NORFOLK SOUTHERN CORP is expected to release its Q3 2026 10-Q filing on October 21, 2026, before market open. Last quarter: NSC delivered 11.4% revenue growth to $3.465B in Q2 FY2026, but GAAP operating income and net income declined 4.3% and 4.4%, respectively, as sharply higher fuel costs, merger-related expenses, and the absence of prior-year Eastern Ohio incident insurance recoveries more than offset volume and pricing gains. Source: 10-Q Item 2 MD&A, pp.24-30.
EPS Estimate
$3.33
Revenue Estimate
$3.3B
Analyst consensus from Finnhub. Actual results posted within minutes of the SEC filing on the NSC page.
Drawn from management commentary in the Q2 2026 10-Q:
Second-quarter railway operating revenue increased 11% year over year to $3.465B. Total units rose 4% to 1.862M, while average revenue per unit increased 7% to $1,861; fuel surcharge revenue rose to $415M from $203M. Intermodal revenue grew 22% to $908M, with domestic intermodal volume up 11%, partly offset by a 3% decline in international volume.
Railway operating expenses increased 21% to $2.341B, exceeding the 11% revenue increase, and the GAAP operating ratio worsened to 67.6% from 62.2%. Fuel expense rose 85% to $405M due to higher locomotive fuel prices; the company also incurred $51M of merger-related expense and recorded $15M of Eastern Ohio incident expense versus a $47M net recovery in the prior-year quarter.
Excluding merger-related expenses, restructuring and other charges, and Eastern Ohio incident effects, adjusted operating income increased 5% to $1.196B, adjusted net income increased 7% to $793M, and adjusted diluted EPS increased 7% to $3.52. Adjusted operating ratio was 65.5%, compared with 63.4% in the prior-year quarter.
Revenue
$3.46B
++11.41% YoY
EPS (Basic)
$3.26
-4.40% YoY
Operating Income
$1.12B
-4.34% YoY
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