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

Norfolk Southern (NSC) has reported Operating Expenses for 18 consecutive years, with $2.3 billion the latest figure, recorded in Q2 2026.

• On a quarterly basis, Operating Expenses rose 20.98% year-over-year to $2.3 billion in Q2 2026; TTM through Jun 2026 was $8.5 billion, a 19.27% increase from a year earlier, with the FY2025 full-year figure at $7.8 billion, down 2.83% from the prior year.
• Operating Expenses was $2.3 billion for Q2 2026 at Norfolk Southern, up from $2.1 billion in the prior quarter.
• Over five years, Operating Expenses peaked at $2.8 billion in Q1 2024 and troughed at $1.5 billion in Q3 2024.
• A 5-year average of $2.1 billion and a median of $2.0 billion in 2022 frame the typical range for Operating Expenses.
• Across the five-year window, Operating Expenses plunged 34.31% in 2024 and jumped 37.8% in 2025, its largest moves.
• Over 5 years, Operating Expenses stood at $2.1 billion in 2022, then increased by 10.17% to $2.3 billion in 2023, then dropped by 16.42% to $1.9 billion in 2024, then rose by 7.61% to $2.0 billion in 2025, then increased by 14.92% to $2.3 billion in 2026.
• The last three Operating Expenses figures came in at $2.3 billion (Q2 2026), $2.1 billion (Q1 2026), and $2.0 billion (Q4 2025), per Business Quant data.