# Norfolk Southern Corp: financial statements, quarterly

NSC · NYSE · CIK 702165 · [Industrials](/sectors/industrials.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/nsc.md) · [Financials](/companies/nsc/financials.md) · [Filings](/companies/nsc/filings.md) · [Insiders](/companies/nsc/insiders.md)

Standardized line items from XBRL company facts. Each value links to its filing; d marks a value derived from year-to-date figures. Other view: [annual](/companies/nsc/financials.md?period=annual).

## Income statement

| Line item | Unit | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) | Q3 FY2026 (2026-09-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [3,073 d](/filings/0001628280-26-006268.md) | [3,004](/filings/0000702165-25-000013.md) | [3,044](/filings/0000702165-25-000028.md) | [3,051](/filings/0001628280-25-046128.md) | [3,024 d](/filings/0001628280-26-006268.md) | [2,993](/filings/0001628280-26-027051.md) | [3,110](/filings/0001628280-26-049326.md) | [3,103](/filings/0001628280-26-066836.md) | [2,974 d](/filings/0001628280-26-006268.md) | [2,998](/filings/0001628280-26-027051.md) | [3,465](/filings/0001628280-26-049326.md) | [3,526](/filings/0001628280-26-066836.md) |
| Operating income | $m | [808 d](/filings/0001628280-26-006268.md) | [213](/filings/0000702165-25-000013.md) | [1,131](/filings/0000702165-25-000028.md) | [1,596](/filings/0001628280-25-046128.md) | [1,131 d](/filings/0001628280-26-006268.md) | [1,146](/filings/0001628280-26-027051.md) | [1,175](/filings/0001628280-26-049326.md) | [1,098](/filings/0001628280-26-066836.md) | [937 d](/filings/0001628280-26-006268.md) | [877](/filings/0001628280-26-027051.md) | [1,124](/filings/0001628280-26-049326.md) | [1,150](/filings/0001628280-26-066836.md) |
| Interest expense | $m | [195 d](/filings/0000702165-25-000008.md) | [201](/filings/0000702165-24-000009.md) | [204](/filings/0000702165-25-000028.md) | [203](/filings/0001628280-25-046128.md) | [199 d](/filings/0000702165-25-000008.md) | [199](/filings/0001628280-26-027051.md) | [201](/filings/0001628280-26-049326.md) | [197](/filings/0001628280-26-066836.md) | [195 d](/filings/0001628280-26-006268.md) | [197](/filings/0001628280-26-027051.md) | [197](/filings/0001628280-26-049326.md) | [193](/filings/0001628280-26-066836.md) |
| Income tax | $m | [124 d](/filings/0001628280-26-006268.md) | [(23.0)](/filings/0000702165-25-000013.md) | [207](/filings/0000702165-25-000028.md) | [328](/filings/0001628280-25-046128.md) | [195 d](/filings/0001628280-26-006268.md) | [228](/filings/0001628280-26-027051.md) | [230](/filings/0001628280-26-049326.md) | [213](/filings/0001628280-26-066836.md) | [121 d](/filings/0001628280-26-006268.md) | [168](/filings/0001628280-26-027051.md) | [225](/filings/0001628280-26-049326.md) | [228](/filings/0001628280-26-066836.md) |
| Net income | $m | [527 d](/filings/0001628280-26-006268.md) | [53.0](/filings/0001628280-25-046128.md) | [737](/filings/0001628280-25-046128.md) | [1,099](/filings/0001628280-25-046128.md) | [733 d](/filings/0001628280-26-006268.md) | [750](/filings/0001628280-26-066836.md) | [768](/filings/0001628280-26-066836.md) | [711](/filings/0001628280-26-066836.md) | [644 d](/filings/0001628280-26-006268.md) | [547](/filings/0001628280-26-066836.md) | [734](/filings/0001628280-26-066836.md) | [759](/filings/0001628280-26-066836.md) |
| Diluted EPS | $ per share | not reported | [0.23](/filings/0000702165-25-000013.md) | [3.25](/filings/0000702165-25-000028.md) | [4.85](/filings/0001628280-25-046128.md) | not reported | [3.31](/filings/0001628280-26-027051.md) | [3.41](/filings/0001628280-26-049326.md) | [3.16](/filings/0001628280-26-066836.md) | not reported | [2.43](/filings/0001628280-26-027051.md) | [3.26](/filings/0001628280-26-049326.md) | [3.37](/filings/0001628280-26-066836.md) |
| Basic EPS | $ per share | not reported | [0.23](/filings/0000702165-25-000013.md) | [3.26](/filings/0000702165-25-000028.md) | [4.86](/filings/0001628280-25-046128.md) | not reported | [3.31](/filings/0001628280-26-027051.md) | [3.41](/filings/0001628280-26-049326.md) | [3.16](/filings/0001628280-26-066836.md) | not reported | [2.43](/filings/0001628280-26-027051.md) | [3.26](/filings/0001628280-26-049326.md) | [3.38](/filings/0001628280-26-066836.md) |

- Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
- Operating income: us-gaap:OperatingIncomeLoss
- Interest expense: us-gaap:InterestExpense, us-gaap:InterestExpenseNonoperating
- Income tax: us-gaap:IncomeTaxExpenseBenefit
- Net income: us-gaap:NetIncomeLoss
- Diluted EPS: us-gaap:EarningsPerShareDiluted
- Basic EPS: us-gaap:EarningsPerShareBasic

## Balance sheet

| Line item | Unit | FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) | Q3 FY2026 (2026-09-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | $bn | [1.6](/filings/0000702165-25-000008.md) | [0.7](/filings/0000702165-24-000009.md) | [0.7](/filings/0000702165-24-000028.md) | [1.0](/filings/0000702165-24-000035.md) | [1.6](/filings/0001628280-26-006268.md) | [1.0](/filings/0000702165-25-000013.md) | [1.3](/filings/0000702165-25-000028.md) | [1.4](/filings/0001628280-25-046128.md) | [1.5](/filings/0001628280-26-066836.md) | [1.3](/filings/0001628280-26-027051.md) | [1.1](/filings/0001628280-26-049326.md) | [1.6](/filings/0001628280-26-066836.md) |
| Current assets | $bn | [3.3](/filings/0000702165-25-000008.md) | [2.4](/filings/0000702165-24-000009.md) | [2.3](/filings/0000702165-24-000028.md) | [2.7](/filings/0000702165-24-000035.md) | [3.2](/filings/0001628280-26-006268.md) | [2.7](/filings/0000702165-25-000013.md) | [2.9](/filings/0000702165-25-000028.md) | [3.0](/filings/0001628280-25-046128.md) | [3.2](/filings/0001628280-26-066836.md) | [3.0](/filings/0001628280-26-027051.md) | [2.8](/filings/0001628280-26-049326.md) | [3.3](/filings/0001628280-26-066836.md) |
| Total assets | $bn | [41.7](/filings/0000702165-25-000008.md) | [42.1](/filings/0000702165-24-000009.md) | [42.6](/filings/0000702165-24-000028.md) | [43.3](/filings/0000702165-24-000035.md) | [43.7](/filings/0001628280-26-006268.md) | [43.8](/filings/0000702165-25-000013.md) | [44.2](/filings/0000702165-25-000028.md) | [44.6](/filings/0001628280-25-046128.md) | [45.2](/filings/0001628280-26-066836.md) | [45.1](/filings/0001628280-26-027051.md) | [45.1](/filings/0001628280-26-049326.md) | [45.9](/filings/0001628280-26-066836.md) |
| Current liabilities | $bn | [2.6](/filings/0000702165-25-000008.md) | [3.4](/filings/0000702165-24-000009.md) | [3.7](/filings/0000702165-24-000028.md) | [3.7](/filings/0000702165-24-000035.md) | [3.5](/filings/0001628280-26-006268.md) | [3.5](/filings/0000702165-25-000013.md) | [3.7](/filings/0000702165-25-000028.md) | [3.5](/filings/0001628280-25-046128.md) | [3.8](/filings/0001628280-26-066836.md) | [3.3](/filings/0001628280-26-027051.md) | [3.4](/filings/0001628280-26-049326.md) | [3.7](/filings/0001628280-26-066836.md) |
| Total liabilities | $bn | [28.9](/filings/0000702165-25-000008.md) | [29.6](/filings/0000702165-24-000009.md) | [29.6](/filings/0000702165-24-000028.md) | [29.5](/filings/0000702165-24-000035.md) | [29.4](/filings/0001628280-26-006268.md) | [29.3](/filings/0000702165-25-000013.md) | [29.4](/filings/0000702165-25-000028.md) | [29.4](/filings/0001628280-25-046128.md) | [29.7](/filings/0001628280-26-066836.md) | [29.3](/filings/0001628280-26-027051.md) | [28.9](/filings/0001628280-26-049326.md) | [29.2](/filings/0001628280-26-066836.md) |
| Long-term debt | $bn | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Current portion of debt | $bn | [0.0](/filings/0000702165-25-000008.md) | not reported | not reported | not reported | [0.6](/filings/0001628280-26-006268.md) | not reported | not reported | not reported | [0.6](/filings/0001628280-26-006268.md) | not reported | not reported | not reported |
| Short-term borrowings | $bn | [0.0](/filings/0000702165-24-000028.md) | [0.4](/filings/0000702165-24-000009.md) | [0.4](/filings/0000702165-24-000028.md) | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Shareholders' equity | $bn | [12.8](/filings/0001628280-26-006268.md) | [12.5](/filings/0001628280-25-046128.md) | [13.0](/filings/0001628280-25-046128.md) | [13.8](/filings/0001628280-25-046128.md) | [14.3](/filings/0001628280-26-066836.md) | [14.5](/filings/0001628280-26-066836.md) | [14.8](/filings/0001628280-26-066836.md) | [15.1](/filings/0001628280-26-066836.md) | [15.5](/filings/0001628280-26-066836.md) | [15.8](/filings/0001628280-26-066836.md) | [16.3](/filings/0001628280-26-066836.md) | [16.7](/filings/0001628280-26-066836.md) |

- Cash and equivalents: us-gaap:CashAndCashEquivalentsAtCarryingValue
- Current assets: us-gaap:AssetsCurrent
- Total assets: us-gaap:Assets
- Current liabilities: us-gaap:LiabilitiesCurrent
- Total liabilities: us-gaap:Liabilities
- Long-term debt: not reported
- Current portion of debt: us-gaap:DebtCurrent
- Short-term borrowings: us-gaap:ShortTermBorrowings
- Shareholders' equity: us-gaap:StockholdersEquity

## Cash flow

| Line item | Unit | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) | Q3 FY2026 (2026-09-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Operating cash flow | $m | [673 d](/filings/0001628280-26-006268.md) | [839](/filings/0000702165-25-000013.md) | [1,036 d](/filings/0000702165-25-000028.md) | [1,226 d](/filings/0001628280-25-046128.md) | [951 d](/filings/0001628280-26-006268.md) | [950](/filings/0001628280-26-027051.md) | [1,077 d](/filings/0001628280-26-049326.md) | [1,271 d](/filings/0001628280-26-066836.md) | [1,063 d](/filings/0001628280-26-006268.md) | [344](/filings/0001628280-26-027051.md) | [1,054 d](/filings/0001628280-26-049326.md) | [1,322 d](/filings/0001628280-26-066836.md) |
| Capital expenditure | $m | [836 d](/filings/0001628280-26-006268.md) | [557](/filings/0000702165-25-000013.md) | [568 d](/filings/0000702165-25-000028.md) | [581 d](/filings/0001628280-25-046128.md) | [675 d](/filings/0001628280-26-006268.md) | [449](/filings/0001628280-26-027051.md) | [475 d](/filings/0001628280-26-049326.md) | [551 d](/filings/0001628280-26-066836.md) | [729 d](/filings/0001628280-26-006268.md) | [382](/filings/0001628280-26-027051.md) | [439 d](/filings/0001628280-26-049326.md) | [586 d](/filings/0001628280-26-066836.md) |
| Dividends paid | $m | [305 d](/filings/0001628280-26-006268.md) | [305](/filings/0000702165-25-000013.md) | [305 d](/filings/0000702165-25-000028.md) | [305 d](/filings/0001628280-25-046128.md) | [306 d](/filings/0001628280-26-006268.md) | [306](/filings/0001628280-26-027051.md) | [303 d](/filings/0001628280-26-049326.md) | [303 d](/filings/0001628280-26-066836.md) | [303 d](/filings/0001628280-26-006268.md) | [303](/filings/0001628280-26-027051.md) | [303 d](/filings/0001628280-26-049326.md) | [304 d](/filings/0001628280-26-066836.md) |
| Share repurchases | $m | [119 d](/filings/0001628280-26-006268.md) | [0.0](/filings/0000702165-25-000013.md) | [0.0 d](/filings/0000702165-25-000028.md) | [0.0 d](/filings/0001628280-25-046128.md) | [0.0 d](/filings/0001628280-26-006268.md) | [248](/filings/0001628280-26-027051.md) | [208 d](/filings/0001628280-26-049326.md) | [78.0 d](/filings/0001628280-26-066836.md) | [0.0 d](/filings/0001628280-26-006268.md) | [5.0](/filings/0001628280-26-027051.md) | [0.0 d](/filings/0001628280-26-049326.md) | [0.0 d](/filings/0001628280-26-066836.md) |

- Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities
- Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment
- Dividends paid: us-gaap:PaymentsOfDividendsCommonStock
- Share repurchases: us-gaap:PaymentsForRepurchaseOfCommonStock

## Shares

| Line item | Unit | Q1 FY2023 (2023-03-31) | Q2 FY2023 (2023-06-30) | Q3 FY2023 (2023-09-30) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) | Q3 FY2026 (2026-09-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Diluted shares (weighted) | millions of shares | [228](/filings/0000702165-24-000009.md) | [228](/filings/0000702165-24-000028.md) | [227](/filings/0000702165-24-000035.md) | [226](/filings/0000702165-25-000013.md) | [226](/filings/0000702165-25-000028.md) | [227](/filings/0001628280-25-046128.md) | [227](/filings/0001628280-26-027051.md) | [225](/filings/0001628280-26-049326.md) | [225](/filings/0001628280-26-066836.md) | [225](/filings/0001628280-26-027051.md) | [225](/filings/0001628280-26-049326.md) | [225](/filings/0001628280-26-066836.md) |

- Diluted shares (weighted): us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding

Shares outstanding: 224,616,686 at 2026-09-30, from the cover of the [10-Q filed 2026-10-22](/filings/0001628280-26-066836.md) (dei:EntityCommonStockSharesOutstanding).

Source: SEC EDGAR, XBRL company facts. Last ingested by Listed: Oct 24, 2026, 15:22 ET. No prices; not investment advice.