Norfolk Southern Q2 2026 earnings: revenue hits record $3.5B

Revenue roseate 11% compared with the 2nd 4th of 2025, the institution said. Higher substance surcharges accounted for six percent points of that growth. The results bushed expert expectations of $3.37 billion, according to the Wall Street Journal.

Earnings came successful astatine $3.26 per diluted share. When one-time items are excluded — including costs from the Union Pacific tie-up and the Ohio derailment — adjusted net reached $3.52 per share, clearing the $3.31 per stock expert consensus, according to the Journal.

Income from railway operations fell 4% to $1.1 billion. On an adjusted basis, operating income roseate 5% to $1.2 billion. The reported operating ratio — a measurement of costs comparative to revenue, wherever little is amended — was 67.6%, compared with 62.2% successful the aforesaid play past year. The adjusted operating ratio was 65.5%.

President and Chief Executive Officer Mark George said results exceeded what the institution had projected astatine the outset of the quarter. "Our squad adapted to a dynamic operating situation with absorption and an unwavering committedness to safety," helium said successful a statement. George added that the institution is focused connected moving a reliable railroad and capitalizing connected what helium described arsenic encouraging request trends successful the 2nd fractional of the year.

Norfolk Southern banal roseate 1.3% successful premarket trading.

The net study comes arsenic Norfolk Southern's projected merger with Union Pacific faces regulatory uncertainty. The Surface Transportation Board paused its reappraisal of their $85 cardinal woody aft the national regulator determined that the railroads' revised exertion did not supply capable accusation for a implicit evaluation. The STB ordered the 2 companies to taxable supplemental materials by July 27, putting the biology reappraisal connected clasp arsenic well.

The merger, which would make the archetypal coast-to-coast freight railroad successful the U.S. spanning much than 50,000 miles crossed 43 states, has encountered pushback from rival carriers, shippers, and labour groups, who contend that consolidation would harm competitory pricing crossed the freight market. Separately, Union Pacific and Canadian National Railway struck a woody connected Wednesday nether which CN volition summation expanded introduction to definite Midwest corridors and, successful turn, retreat its objections to the Union Pacific–Norfolk Southern merger.