Norfolk Southern (NYSE: NSC) reported strong Q2 2025 results, with revenue reaching $3.1 billion and diluted EPS increasing 5% year-over-year to $3.41.
The company achieved an operating ratio of 62.2% and railway operating income of $1.2 billion.
After adjusting for restructuring and continuing costs from the East Palestine derailment, NS’s adjusted EPS was $3.29, an 8% increase, and its operating ratio improved to 63.4%. Volume saw a 3% growth, and productivity savings are now projected to exceed $175 million in 2025.
In a significant development, NS announced a merger agreement with Union Pacific, which will establish America’s first transcontinental railroad. Under the terms of the agreement, NS shareholders will receive one Union Pacific share plus $88.82 in cash for each NS share, valuing Norfolk Southern at $85 billion.
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