Norfolk Southern Railway (NSC) income statement
NYSE · Industrials · Railroads · 19,300 employees · CEO Mark R. George
- Price
- $342.64 +0.13%
- Market cap
- $77B
- Enterprise value
- $92B
- Last report
- Q3 '26 filed 2026-10-22
- Next report
- 2027-02-04 EPS est. $3.26
Norfolk Southern Railway (NSC) reported revenue of $3.53B for Q3 '26 (+13.6% year on year), operating income of $1.15B (32.6% of revenue) and net income of $759M. Over the last four quarters revenue was $13B.
Income statement
| Income statement | Trend | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.07B | $3B | $3.04B | $3.05B | $3.02B | $2.99B | $3.11B | $3.1B | $2.97B | $3B | $3.47B | $3.53B | |
| Cost of revenue | $2.28B | $2.69B | $1.94B | $1.8B | $1.93B | $2.06B | $2.01B | $2.07B | $877M | $1.71B | $1.15B | $2.38B | |
| Gross profit | $795M | $312M | $1.1B | $1.26B | $1.09B | $938M | $1.1B | $1.03B | $2.1B | $1.29B | $2.32B | $1.15B | |
| General & administrative | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $753M | $0 | $0 | $0 | |
| Other operating expenses | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $407M | $414M | $1.19B | $0 | |
| Operating expenses | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1.16B | $414M | $1.19B | $0 | |
| Operating income | $795M | $312M | $1.1B | $1.26B | $1.09B | $938M | $1.1B | $1.03B | $937M | $877M | $1.12B | $1.15B | |
| Interest expense | $195M | $201M | $204M | $203M | $199M | $199M | $201M | $197M | $195M | $197M | $197M | $193M | |
| Other non-operating income (gains on investments, FX ...) | -$51M | $81M | -$45M | -$374M | -$34M | -$239M | -$95M | -$92M | -$23M | $35M | $32M | -$30M | |
| Total non-operating income | -$144M | -$282M | -$159M | $171M | -$165M | $40M | -$106M | -$105M | -$172M | -$162M | -$165M | -$163M | |
| Income before tax | $651M | $30M | $944M | $1.43B | $928M | $978M | $998M | $924M | $765M | $715M | $959M | $987M | |
| Income tax | $124M | -$23M | $207M | $328M | $195M | $228M | $230M | $213M | $121M | $168M | $225M | $228M | |
| Net income | $527M | $53M | $737M | $1.1B | $733M | $750M | $768M | $711M | $644M | $547M | $734M | $759M | |
| EPS (basic) | $2.34 | $0.23 | $3.26 | $4.86 | $3.24 | $3.31 | $3.41 | $3.16 | $2.87 | $2.43 | $3.26 | $3.38 | |
| EPS (diluted) | $2.33 | $0.23 | $3.25 | $4.85 | $3.23 | $3.31 | $3.41 | $3.16 | $2.87 | $2.43 | $3.26 | $3.37 | |
| Shares (basic, weighted) | 226M | 226M | 226M | 226M | 226M | 226M | 225M | 224M | 225M | 225M | 225M | 225M | |
| Shares (diluted, weighted) | 226M | 226M | 226M | 227M | 227M | 227M | 225M | 225M | 225M | 225M | 225M | 225M | |
| Depreciation & amortization | $330M | $337M | $335M | $339M | $342M | $346M | $346M | $348M | $353M | $352M | $358M | $363M | |
| EBITDA | $1.18B | $568M | $1.48B | $1.97B | $1.47B | $1.52B | $1.55B | $1.47B | $1.31B | $1.19B | $1.45B | $1.54B |
| Income statement | Trend | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $9.89B | $10.6B | $11.5B | $11.3B | $9.79B | $11.1B | $12.7B | $12.2B | $12.1B | $12.2B | |
| Cost of revenue | $6.82B | $7.03B | $7.5B | $7.4B | $6.39B | $6.78B | $8.01B | $9.35B | $8.36B | $7.01B | |
| Gross profit | $3.07B | $3.52B | $3.96B | $3.89B | $3.4B | $4.37B | $4.73B | $2.81B | $3.76B | $5.17B | |
| General & administrative | $0 | $0 | $0 | $0 | $0 | -$102M | -$126M | -$117M | -$120M | $753M | |
| Other operating expenses | $0 | $0 | $0 | $0 | $0 | $102M | $126M | $117M | $120M | $407M | |
| Operating expenses | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1.16B | |
| Operating income | $3.07B | $3.52B | $3.96B | $3.89B | $3.4B | $4.37B | $4.73B | $2.81B | $3.76B | $4.01B | |
| Interest income | $10M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Interest expense | $569M | $550M | $557M | $604M | $625M | $646M | $692M | $722M | $807M | $792M | |
| Other non-operating income (gains on investments, FX ...) | -$81M | -$156M | -$67M | -$202M | $242M | -$159M | -$89M | -$234M | -$372M | -$449M | |
| Total non-operating income | -$488M | -$394M | -$490M | -$402M | -$867M | -$487M | -$603M | -$488M | -$435M | -$343M | |
| Income before tax | $2.58B | $3.13B | $3.47B | $3.49B | $2.53B | $3.88B | $4.13B | $2.32B | $3.33B | $3.67B | |
| Income tax | $914M | -$2.28B | $803M | $769M | $517M | $873M | $860M | $493M | $707M | $792M | |
| Net income | $1.67B | $5.4B | $2.67B | $2.72B | $2.01B | $3.01B | $3.27B | $1.83B | $2.62B | $2.87B | |
| EPS (basic) | $5.66 | $18.76 | $9.94 | $10.32 | $7.88 | $12.16 | $13.92 | $8.04 | $11.58 | $12.75 | |
| EPS (diluted) | $5.62 | $18.61 | $9.51 | $10.25 | $7.84 | $12.11 | $13.88 | $8.02 | $11.57 | $12.75 | |
| Shares (basic, weighted) | 294M | 288M | 268M | 263M | 255M | 247M | 235M | 227M | 226M | 225M | |
| Shares (diluted, weighted) | 296M | 290M | 280M | 266M | 257M | 248M | 236M | 227M | 226M | 225M | |
| Depreciation & amortization | $1.03B | $1.06B | $1.1B | $1.14B | $1.15B | $1.18B | $1.22B | $1.3B | $1.35B | $1.39B | |
| EBITDA | $4.18B | $4.74B | $5.13B | $5.23B | $4.31B | $5.71B | $6.04B | $4.34B | $5.49B | $5.85B |
Standardised by Financial Modeling Prep from the company's filings; outflows and costs keep the sign the provider reports. Hover a period for its end date. Amounts in USD.
Revenue, operating income and growth
quarterlyMargins
quarterlyCosts as % of revenue
quarterlyThe other statements
Sources
Statements, segment revenue, metrics, estimates: Financial Modeling Prep. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-09-30, 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30
Data as of 2026-11-01