Norfolk Southern (NSC) Operating Expenses (2009 - 2026)
Norfolk Southern (NSC) posted quarterly Operating Expenses of $2.3 billion for Q2 2026, up 20.98% year-over-year from $1.9 billion in Q2 2025, and up 10.37% quarter-over-quarter from $2.1 billion in Q1 2026.
Norfolk Southern (NSC) Operating Expenses (2009 - 2026) Analysis & Trends
Norfolk Southern (NSC) has reported Operating Expenses for 18 consecutive years, with $2.3 billion the latest figure, recorded in Q2 2026.
- In Q2 2026, Operating Expenses rose 20.98% year-over-year to $2.3 billion; the TTM figure through Jun 2026 stood at $8.5 billion (up 19.27% YoY), while the FY2025 annual figure was $7.8 billion, down 2.83% from the prior year.
- Operating Expenses rose to $2.3 billion in Q2 2026 per NSC's latest filing, from $2.1 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.
- Historically, Operating Expenses has averaged $2.1 billion across 5 years, with a median of $2.0 billion in 2022.
- Annual changes were most pronounced in 2024 — Operating Expenses tumbled 34.31% — and 2025, when it surged 37.8%.
- Norfolk Southern's Operating Expenses stood at $2.1 billion in 2022, then gained by 10.17% to $2.3 billion in 2023, then fell by 16.42% to $1.9 billion in 2024, then advanced by 7.61% to $2.0 billion in 2025, then gained by 14.92% to $2.3 billion in 2026.
- Business Quant data shows NSC's Operating Expenses at $2.3 billion in Q2 2026, $2.1 billion in Q1 2026, and $2.0 billion in Q4 2025.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Union Pacific | 180.52 Bn | 178.40 Bn | 6.50 Bn | 4.10 Bn |
| 2 | Csx | 94.59 Bn | 93.20 Bn | 3.29 Bn | 2.43 Bn |
| 3 | Canadian Pacific Kansas City | 84.21 Bn | 83.94 Bn | 2.92 Bn | 1.95 Bn |
| 4 | Canadian National Railway | 78.52 Bn | 78.52 Bn | - | 2.83 Bn |
| 5 | Norfolk Southern | 77.93 Bn | 76.86 Bn | - | 2.34 Bn |
| 6 | Westinghouse Air Brake Technologies | 49.47 Bn | 48.80 Bn | 1.16 Bn | 561.00 Mn |
| 7 | Trinity Industries | 2.37 Bn | 2.21 Bn | 109.90 Mn | 51.10 Mn |
| 8 | Greenbrier Companies | 1.42 Bn | 1.15 Bn | 81.10 Mn | 55.20 Mn |
| 9 | Foster L B | 390.24 Mn | 384.46 Mn | 30.87 Mn | 24.11 Mn |
| 10 | FreightCar America | 228.00 Mn | 163.70 Mn | - | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 2.34 Bn |
| Mar 31, 2026 | 2.12 Bn |
| Dec 31, 2025 | 2.04 Bn |
| Sep 30, 2025 | 2.01 Bn |
| Jun 30, 2025 | 1.94 Bn |
| Mar 31, 2025 | 1.85 Bn |
| Dec 31, 2024 | 1.89 Bn |
| Sep 30, 2024 | 1.46 Bn |
| Jun 30, 2024 | 1.91 Bn |
| Mar 31, 2024 | 2.79 Bn |
| Dec 31, 2023 | 2.27 Bn |
| Sep 30, 2023 | 2.22 Bn |
| Jun 30, 2023 | 2.40 Bn |
| Mar 31, 2023 | 2.42 Bn |
| Dec 31, 2022 | 2.06 Bn |
| Sep 30, 2022 | 2.07 Bn |
| Jun 30, 2022 | 1.98 Bn |
| Mar 31, 2022 | 1.83 Bn |
| Dec 31, 2021 | 1.72 Bn |
| Sep 30, 2021 | 1.72 Bn |