Norfolk Southern posted record third-quarter railway revenue of $3.5 billion, up 14% year over year, as its operating ratio also rose to 67.4% from 64.6%.
Revenue increased $423 million from the third quarter of 2025. Volume rose 3%, and higher fuel surcharges contributed eight percentage points to revenue growth.
Income from railway operations totaled $1.15 billion, up 5%. Diluted earnings per share increased 7% to $3.37.
On an adjusted basis, income from railway operations rose 7% to $1.22 billion, while diluted earnings per share increased 10% to $3.62. The adjusted operating ratio was 65.4%, 210 basis points above its year-earlier level.
The company’s adjustments exclude merger-related expenses and the effects of the Eastern Ohio incident in both periods. The adjusted 2025 figures also exclude restructuring and other charges.
Mark George, Norfolk Southern’s president and CEO, said demand for rail service increased during the quarter. He linked the rise in demand to tighter conditions in trucking.
The SEC filing index shows Norfolk Southern filed a Form 8-K on Oct. 22 with disclosures on operating results and Regulation FD. The company’s earnings release reported the quarterly financial results.
