Norfolk Southern Corp

Company facts

Industry

Railroads, Line-Haul Operating

Headquarters

Atlanta, Georgia

Most recent report

10-Q, filed Jul 23, 2026

Incorporated

Virginia

Filings on record

1,005+ filings

On EDGAR

CIK 702165

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Jun 2026 10-Q

SECSift found 2 of 13 sections worth reading, with 0 positive, 4 notable, and 3 negative flags.

• Financial Statements (Item 1)

  Full financials with merger costs, incident liabilities, and lawsuit updates. Critical numbers for this period.
  Notable

  • A $2.5 billion termination fee could be triggered if the merger falls through, a large contingent liability.
  • Share repurchases halted entirely due to merger restrictions; none bought in 2026 vs $455 million in 2025.
  Negative

  • Securities class action (Exchange Act) survived dismissal motion and entered discovery, a negative litigation milestone.
  • Incident legal accruals dropped to $186 million from $474 million after paying the final $285 million class action settlement.

• Management's Discussion (Item 2)

  Core MD&A with Merger, OPEX surge, and cash flow drop.
  Notable

  • No stock repurchases in H1 2026 vs $456M in H1 2025; $6.3B authorization remains but suspended.
  • New finance lease for office building has $499M residual value guarantee; no amounts probable owed.
  Negative

  • Operating cash flow dropped $0.6B to $1.4B H1 2026 from $2.0B, hit by $322M Incident payments.

What changed: Jun 2026 vs. Mar 2026

About 12% of NSC's Jun 2026 10-Q is new information. 27 paragraphs were added, 106 changed, and 25 removed. Below are the most important lines SECSift identified.

• Item 2 59
• Item 1 47
• Item 6 6
• Item 4 2