Norfolk Southern Corporation (NSC) Revenue by Segment

Norfolk Southern revenue by segment at a glance

In Q2 fiscal 2026 (the quarter ended June 30, 2026), Norfolk Southern's largest business segment was Railway Operating Revenues Market Group Merchandise, with $2.13 billion or 62% of revenue, up 8.2% from a year earlier. Next: Railway Operating Revenues Market Group Intermodal (26%) and Railway Operating Revenues Market Group Coal (12%).

By product or service, Railway Operating Revenues Market Group Intermodal brought in 26%, Agriculture, Forest and Consumer Products brought in 19% and Chemicals brought in 19% of revenue in Q2 fiscal 2026.

The fastest-growing business segment from a year earlier was Railway Operating Revenues Market Group Intermodal (+22.2%).

From company filings, in USD; latest quarter ended June 30, 2026; quarterly data from Q1 fiscal 2018.

Norfolk Southern Corporation

NSCManufacturing and Production

United States

Manufacturing and Production

Revenue breakdown

Fiscal quarters, from company filings

Segments by quarter (USD)

Click a bar to see that period below. Striped bars are calculated fourth quarters; an empty slot means it could not be calculated on the same basis i

Railway Operating Revenues Market Group MerchandiseRailway Operating Revenues Market Group IntermodalRailway Operating Revenues Market Group Coal

Q2 FY26 breakdown

Fiscal quarter ended Jun 30, 2026

Item	Revenue	Share	vs year before
Railway Operating Revenues Market Group Merchandise	USD 2.13B	61.6%	+8.2%
Railway Operating Revenues Market Group Intermodal	USD 908.00M	26.2%	+22.2%
Railway Operating Revenues Market Group Coal	USD 424.00M	12.2%	+7.3%

Sum of items USD 3.46B. Shares are of the items shown. Click an item with › to see its parts.

Also reported by:

All periods

Every item and period in one grid. Purple = calculated; "–" = not available.

Item	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24	Q1 FY24	Q4 FY23	Q3 FY23	Q2 FY23	Q1 FY23	Q4 FY22	Q3 FY22	Q2 FY22	Q1 FY22	Q4 FY21	Q3 FY21	Q2 FY21	Q1 FY21	Q4 FY20	Q3 FY20	Q2 FY20	Q1 FY20	Q4 FY19	Q3 FY19	Q2 FY19	Q1 FY19	Q4 FY18	Q3 FY18	Q2 FY18	Q1 FY18
Railway Operating Revenues Market Group Merchandise	2.1B	1.9B	1.9B	2.0B	2.0B	1.9B	1.8B	1.9B	1.9B	1.9B	1.8B	1.8B	1.8B	1.9B	1.9B	1.9B	1.9B	1.7B	1.7B	1.7B	1.7B	1.6B	1.6B	1.6B	1.3B	1.7B	1.6B	1.7B	1.8B	1.7B	1.7B	1.7B	1.7B	1.6B
Railway Operating Revenues Market Group Intermodal	908.0M	749.0M	747.0M	759.0M	743.0M	760.0M	792.0M	763.0M	742.0M	745.0M	794.0M	737.0M	745.0M	814.0M	913.0M	942.0M	972.0M	854.0M	831.0M	812.0M	801.0M	719.0M	730.0M	700.0M	569.0M	655.0M	697.0M	707.0M	701.0M	719.0M	755.0M	746.0M	714.0M	678.0M
Railway Operating Revenues Market Group Coal	424.0M	364.0M	347.0M	375.0M	395.0M	370.0M	390.0M	427.0M	398.0M	396.0M	430.0M	434.0M	409.0M	440.0M	448.0M	471.0M	425.0M	389.0M	350.0M	330.0M	318.0M	312.0M	290.0M	250.0M	209.0M	298.0M	363.0M	403.0M	468.0M	435.0M	457.0M	464.0M	466.0M	434.0M

Norfolk Southern revenue by business segment, last 4 quarters

Business segment	Q2 FY26	Q1 FY26	Q3 FY25	Q2 FY25	Share
Railway Operating Revenues Market Group Merchandise	$2.1B	$1.9B	$2.0B	$2.0B	62%
Railway Operating Revenues Market Group Intermodal	$908.0M	$749.0M	$759.0M	$743.0M	26%
Railway Operating Revenues Market Group Coal	$424.0M	$364.0M	$375.0M	$395.0M	12%

In USD, fiscal quarters as reported; share = part of Q2 FY26 revenue.

Norfolk Southern revenue by product or service, last 4 quarters

Product or service	Q2 FY26	Q1 FY26	Q3 FY25	Q2 FY25	Share
Railway Operating Revenues Market Group Intermodal	$908.0M	$749.0M	$759.0M	$743.0M	26%
Agriculture, Forest and Consumer Products	$673.0M	$625.0M	$630.0M	$645.0M	19%
Chemicals	$646.0M	$567.0M	$569.0M	$546.0M	19%
Metals and Construction	$480.0M	$413.0M	$448.0M	$458.0M	14%
Railway Operating Revenues Market Group Coal	$424.0M	$364.0M	$375.0M	$395.0M	12%
Automotive	$334.0M	$280.0M	$322.0M	$323.0M	10%

In USD, fiscal quarters as reported; share = part of Q2 FY26 revenue.

Questions and answers

What are Norfolk Southern's business segments?

Railway Operating Revenues Market Group Merchandise, Railway Operating Revenues Market Group Intermodal and Railway Operating Revenues Market Group Coal (as reported for Q2 fiscal 2026).

Which business segment makes the most money for Norfolk Southern?

Railway Operating Revenues Market Group Merchandise: $2.13 billion, or 62% of revenue, in Q2 fiscal 2026.

What are Norfolk Southern's main products and services?

By revenue in Q2 fiscal 2026: Railway Operating Revenues Market Group Intermodal (26%), Agriculture, Forest and Consumer Products (19%), Chemicals (19%) and Metals and Construction (14%).

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Disclaimer: This analysis is for informational and educational purposes only and does not constitute financial, investment, tax, or legal advice. Data may be incomplete, delayed, or contain inaccuracies. Consult with a qualified financial advisor before making any investment decisions.