Norfolk SouthernNSCEarnings & Financial Report
The Norfolk Southern Railway is a Class I freight railroad operating in the Eastern United States. Headquartered in Atlanta, the company was formed in 1982 with the merger of the Norfolk and Western Railway and Southern Railway. The company operates 19,420 route miles (31,250 km) in 22 eastern states and the District of Columbia, and has rights in Canada over the Albany to Montreal route of the Canadian Pacific Kansas City.
Revenue
$3.1B
Gross Profit
N/A
Operating Profit
$1.1B
Net Profit
$711.0M
Gross Margin
N/A
Operating Margin
35.4%
Net Margin
22.9%
YoY Growth
1.7%
EPS
$3.16
Norfolk Southern Q3 FY2025 Financial Summary
Norfolk Southern reported revenue of $3.1B (up 1.7% YoY) for Q3 FY2025, with a net profit of $711.0M (down 35.3% YoY) (22.9% margin).
Key Financial Metrics
| Total Revenue | $3.1B |
|---|---|
| Net Profit | $711.0M |
| Gross Margin | N/A |
| Operating Margin | 35.4% |
| Report Period | Q3 FY2025 |
Revenue Breakdown
Norfolk Southern Q3 FY2025 revenue of $3.1B breaks down across 6 segments, led by Railway Operating Revenues Market Group Intermodal at $759.0M (24.5% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Railway Operating Revenues Market Group Intermodal | $759.0M | 24.5% |
| Agriculture Forest And Consumer Products | $630.0M | 20.3% |
| Chemicals | $569.0M | 18.3% |
| Metals And Construction | $448.0M | 14.4% |
| Railway Operating Revenues Market Group Coal | $375.0M | 12.1% |
| Automotive | $322.0M | 10.4% |
Norfolk Southern Revenue by Segment — Quarterly Trend
Norfolk Southern revenue by segment across the last 4 reported quarters, showing how each business line (such as Railway Operating Revenues Market Group Intermodal and Agriculture Forest And Consumer Products) has evolved quarter over quarter.
| Segment | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 |
|---|---|---|---|---|
| Railway Operating Revenues Market Group Intermodal | — | $759.0M | $743.0M | $760.0M |
| Agriculture Forest And Consumer Products | — | $630.0M | $645.0M | $636.0M |
| Chemicals | — | $569.0M | $546.0M | $535.0M |
| Metals And Construction | $404.0M | $448.0M | $458.0M | $414.0M |
| Railway Operating Revenues Market Group Coal | $347.0M | $375.0M | $395.0M | $370.0M |
Norfolk Southern Annual Revenue by Year
Norfolk Southern annual revenue history includes year-by-year totals (for example, 2025 revenue was $12.2B).
| Year | Annual Revenue |
|---|---|
| 2025 | $12.2B |
| 2024 | $12.1B |
| 2023 | $12.2B |
| 2022 | $12.7B |
Norfolk Southern Quarterly Revenue & Net Profit History
Norfolk Southern results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 FY2025 | $3.0B | -1.7% | $644.0M | 21.7% |
| Q3 FY2025 | $3.1B | +1.7% | $711.0M | 22.9% |
| Q2 FY2025 | $3.1B | +2.2% | $768.0M | 24.7% |
| Q1 FY2025 | $3.0B | -0.4% | $750.0M | 25.1% |
| Q4 FY2024 | $3.0B | -1.6% | $733.0M | 24.2% |
| Q3 FY2024 | $3.1B | +2.7% | $1.1B | 36.0% |
| Q2 FY2024 | $3.0B | +2.1% | $737.0M | 24.2% |
| Q1 FY2024 | $3.0B | -4.1% | $53.0M | 1.8% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.00B | $3.04B | $3.05B | $3.02B | $2.99B | $3.11B | $3.10B | $2.97B |
| YoY Growth | -4.1% | 2.1% | 2.7% | -1.6% | -0.4% | 2.2% | 1.7% | -1.7% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $42.13B | $42.56B | $43.26B | $43.68B | $43.80B | $44.16B | $44.58B | $45.24B |
| Liabilities | $29.59B | $29.58B | $29.47B | $29.38B | $29.29B | $29.37B | $29.44B | $29.69B |
| Equity | $12.54B | $12.98B | $13.79B | $14.31B | $14.51B | $14.79B | $15.14B | $15.55B |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $839.0M | $1.04B | $1.23B | $951.0M | $950.0M | $1.08B | $1.27B | $1.06B |