Norfolk Southern annual operating expenses
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Norfolk Southern Operating Expenses Growth & History (NSC)
Norfolk Southern's operating expenses was $7.82B for fiscal 2025.
View full Norfolk Southern company overviewNorfolk Southern annual operating expenses history
| Fiscal year | Period ended | Operating expenses | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | $7.82B | −$228.0M | −2.83% |
| 2024 | 2024-12-31 | $8.05B | −$1.25B | −13.47% |
| 2023 | 2023-12-31 | $9.30B | $1.37B | +17.25% |
| 2022 | 2022-12-31 | $7.94B | $1.24B | +18.54% |
| 2021 | 2021-12-31 | $6.70B | −$92.0M | −1.36% |
| 2020 | 2020-12-31 | $6.79B | −$520.0M | −7.12% |
| 2019 | 2019-12-31 | $7.31B | −$192.0M | −2.56% |
| 2018 | 2018-12-31 | $7.50B | $470.0M | +6.69% |
| 2017 | 2017-12-31 | $7.03B | $150.0M | +2.18% |
| 2016 | 2016-12-31 | $6.88B | −$748.0M | −9.81% |
| 2015 | 2015-12-31 | $7.63B | −$422.0M | −5.24% |
| 2014 | 2014-12-31 | $8.05B | $61.0M | +0.76% |
| 2013 | 2013-12-31 | $7.99B | $72.0M | +0.91% |
| 2012 | 2012-12-31 | $7.92B | −$43.0M | −0.54% |
| 2011 | 2011-12-31 | $7.96B | $1.12B | +16.36% |
| 2010 | 2010-12-31 | $6.84B | $833.0M | +13.87% |
| 2009 | 2009-12-31 | $6.01B | −$1.57B | −20.72% |
| 2008 | 2008-12-31 | $7.58B | $730.0M | +10.66% |
| 2007 | 2007-12-31 | $6.85B | — | — |
Norfolk Southern quarterly operating expenses
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| Fiscal quarter | Period ended | Operating expenses | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $2.34B | $406.0M | +20.98% |
| Q1 2026 | 2026-03-31 | $2.12B | $274.0M | +14.83% |
| Q4 2025 | 2025-12-31 | $2.04B | $144.0M | +7.61% |
| Q3 2025 | 2025-09-30 | $2.00B | $550.0M | +37.80% |
| Q2 2025 | 2025-06-30 | $1.94B | $22.0M | +1.15% |
| Q1 2025 | 2025-03-31 | $1.85B | −$944.0M | −33.82% |
| Q4 2024 | 2024-12-31 | $1.89B | −$372.0M | −16.42% |
| Q3 2024 | 2024-09-30 | $1.46B | −$760.0M | −34.31% |
| Q2 2024 | 2024-06-30 | $1.91B | −$491.0M | −20.42% |
| Q1 2024 | 2024-03-31 | $2.79B | $370.0M | +15.28% |
| Q4 2023 | 2023-12-31 | $2.27B | $209.0M | +10.17% |
| Q3 2023 | 2023-09-30 | $2.21B | $144.0M | +6.95% |
| Q2 2023 | 2023-06-30 | $2.40B | $425.0M | +21.48% |
| Q1 2023 | 2023-03-31 | $2.42B | $591.0M | +32.30% |
| Q4 2022 | 2022-12-31 | $2.06B | $333.0M | +19.33% |
| Q3 2022 | 2022-09-30 | $2.07B | $355.0M | +20.69% |
| Q2 2022 | 2022-06-30 | $1.98B | $347.0M | +21.26% |
| Q1 2022 | 2022-03-31 | $1.83B | $206.0M | +12.68% |
| Q4 2021 | 2021-12-31 | $1.72B | $134.0M | +8.43% |
| Q3 2021 | 2021-09-30 | $1.72B | $50.0M | +3.00% |
| Q2 2021 | 2021-06-30 | $1.63B | $157.0M | +10.64% |
| Q1 2021 | 2021-03-31 | $1.62B | −$433.0M | −21.05% |
| Q4 2020 | 2020-12-31 | $1.59B | −$139.0M | −8.04% |
| Q3 2020 | 2020-09-30 | $1.67B | −$179.0M | −9.70% |
| Q2 2020 | 2020-06-30 | $1.48B | −$385.0M | −20.70% |
| Q1 2020 | 2020-03-31 | $2.06B | $183.0M | +9.77% |
| Q4 2019 | 2019-12-31 | $1.73B | −$90.0M | −4.95% |
| Q3 2019 | 2019-09-30 | $1.84B | −$82.0M | −4.26% |
| Q2 2019 | 2019-06-30 | $1.86B | −$12.0M | −0.64% |
| Q1 2019 | 2019-03-31 | $1.87B | −$8.0M | −0.43% |
| Q4 2018 | 2018-12-31 | $1.82B | $147.0M | +8.80% |
| Q3 2018 | 2018-09-30 | $1.93B | $152.0M | +8.56% |
| Q2 2018 | 2018-06-30 | $1.87B | $107.0M | +6.06% |
| Q1 2018 | 2018-03-31 | $1.88B | $64.0M | +3.52% |
| Q4 2017 | 2017-12-31 | $1.67B | −$123.0M | −6.86% |
| Q3 2017 | 2017-09-30 | $1.77B | $71.0M | +4.17% |
| Q2 2017 | 2017-06-30 | $1.76B | $81.0M | +4.81% |
| Q1 2017 | 2017-03-31 | $1.82B | $121.0M | +7.13% |
| Q4 2016 | 2016-12-31 | $1.79B | −$82.0M | −4.37% |
| Q3 2016 | 2016-09-30 | $1.70B | −$187.0M | −9.89% |
| Q2 2016 | 2016-06-30 | $1.68B | −$215.0M | −11.32% |
| Q1 2016 | 2016-03-31 | $1.70B | −$264.0M | −13.46% |
| Q4 2015 | 2015-12-31 | $1.88B | −$103.0M | −5.20% |
| Q3 2015 | 2015-09-30 | $1.89B | −$134.0M | −6.62% |
| Q2 2015 | 2015-06-30 | $1.90B | −$124.0M | −6.13% |
| Q1 2015 | 2015-03-31 | $1.96B | −$61.0M | −3.02% |
| Q4 2014 | 2014-12-31 | $1.98B | −$21.0M | −1.05% |
| Q3 2014 | 2014-09-30 | $2.02B | $50.0M | +2.53% |
| Q2 2014 | 2014-06-30 | $2.02B | $57.0M | +2.90% |
| Q1 2014 | 2014-03-31 | $2.02B | −$25.0M | −1.22% |
| Q4 2013 | 2013-12-31 | $2.00B | $30.0M | +1.52% |
| Q3 2013 | 2013-09-30 | $1.98B | $13.0M | +0.66% |
| Q2 2013 | 2013-06-30 | $1.97B | $26.0M | +1.34% |
| Q1 2013 | 2013-03-31 | $2.05B | $3.0M | +0.15% |
| Q4 2012 | 2012-12-31 | $1.97B | −$27.0M | −1.35% |
| Q3 2012 | 2012-09-30 | $1.96B | $11.0M | +0.56% |
| Q2 2012 | 2012-06-30 | $1.94B | −$51.0M | −2.56% |
| Q1 2012 | 2012-03-31 | $2.04B | $24.0M | +1.19% |
| Q4 2011 | 2011-12-31 | $2.00B | $247.0M | +14.11% |
| Q3 2011 | 2011-09-30 | $1.95B | $241.0M | +14.09% |
| Q2 2011 | 2011-06-30 | $1.99B | $294.0M | +17.32% |
| Q1 2011 | 2011-03-31 | $2.02B | $337.0M | +20.02% |
| Q4 2010 | 2010-12-31 | $1.75B | $193.0M | +12.40% |
| Q3 2010 | 2010-09-30 | $1.71B | $209.0M | +13.92% |
| Q2 2010 | 2010-06-30 | $1.70B | $308.0M | +22.17% |
| Q1 2010 | 2010-03-31 | $1.68B | $123.0M | +7.88% |
| Q4 2009 | 2009-12-31 | $1.56B | — | — |
| Q3 2009 | 2009-09-30 | $1.50B | −$499.0M | −24.95% |
| Q2 2009 | 2009-06-30 | $1.39B | — | — |
| Q1 2009 | 2009-03-31 | $1.56B | — | — |
| Q3 2008 | 2008-09-30 | $2.00B | — | — |
Norfolk Southern operating expenses trends
Over the last five fiscal years, Norfolk Southern's operating expenses increased from $6.79B to $7.82B, a change of $1.04B. The latest reported quarter, Q2 2026, shows $2.34B.
About the metric
What operating expenses mean
Operating expenses are the recurring costs of running a company’s business beyond the direct costs used to calculate gross profit. They commonly include selling, general and administrative expenses, research and development, and other operating costs.
Calculation and source
SEC-reported and calculated operating expenses
TickerStat uses operating expenses reported in company SEC filings when available. When a separate total is unavailable, it calculates operating expenses as aligned gross profit minus operating income for the same fiscal period. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Norfolk Southern source filings ↗