Norfolk Southern Corp. reported record third-quarter railway operating revenue of $3.5 billion, an increase of $423 million, or 14%, compared with the same quarter in 2025.
Rail traffic volume increased 3% year over year, while higher fuel surcharges accounted for 8 percentage points of revenue growth.
Income from railway operations was $1.2 billion, an increase of $52 million, or 5%, from the third quarter of 2025. The operating ratio was 67.4%, compared with 64.6% a year earlier.
Diluted earnings per share were $3.37, an increase of 21 cents, or 7%, from the same quarter last year.
Excluding merger-related expenses and the effects of the East Palestine, Ohio, derailment in both years, as well as restructuring and other charges in 2025, adjusted income from railway operations was $1.2 billion, an increase of $82 million, or 7%.
The adjusted operating ratio was 65.4%, an increase of 210 basis points from the third quarter of 2025. Adjusted diluted earnings per share were $3.62, up 32 cents, or 10%, from a year earlier.
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