Norfolk Southern reports first quarter 2026 results

Norfolk Southern reported first-quarter 2026 results on April 24, posting flat revenue but lower GAAP profit as higher fuel costs and other pressures weighed on the railroad.

The company said revenue was $3.0 billion, while income from railway operations fell to $877 million. Diluted earnings per share came in at $2.43.

On an adjusted basis, Norfolk Southern reported income from railway operations of $939 million and adjusted diluted EPS of $2.65. Reuters-based and AP coverage both said the adjusted figure was stronger than Wall Street expected.

Management said the quarter was affected by volatile volumes, severe winter weather and a sharp rise in fuel prices in March. The company also pointed to a 1% decline in volume in outside coverage of the results.

Norfolk Southern's release gives investors a first look at how the railroad is navigating a choppy freight environment. The next focus will be on whether volume trends and input costs improve later in the year.