Norfolk Southern (NSC) Operating Expenses (2009 - 2026)

Norfolk Southern (NSC) has 18 years of Operating Expenses data on file, last reported at $2.1 billion in Q1 2026.

• Quarterly Operating Expenses rose 14.83% year-over-year to $2.1 billion in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $8.1 billion (up 13.93% YoY) and the FY2025 annual result came in at $7.8 billion, down 2.83% from the prior year.
• Operating Expenses climbed to $2.1 billion in Q1 2026 per NSC's latest filing, from $2.0 billion in the prior quarter.
• Across five years, Operating Expenses topped out at $2.8 billion in Q1 2024 and bottomed at $1.5 billion in Q3 2024.
• The 5-year median for Operating Expenses is $2.0 billion (2025), against an average of $2.1 billion.
• The widest annual swing landed in 2024, when Operating Expenses sank 34.31%; it then soared 37.8% in 2025.
• Tracing NSC's Operating Expenses over 5 years: stood at $2.1 billion in 2022, then grew by 10.17% to $2.3 billion in 2023, then slipped by 16.42% to $1.9 billion in 2024, then increased by 7.61% to $2.0 billion in 2025, then climbed by 4.12% to $2.1 billion in 2026.
• Per Business Quant, the three latest NSC Operating Expenses figures stand at $2.1 billion (Q1 2026), $2.0 billion (Q4 2025), and $2.0 billion (Q3 2025).

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