NORFOLK SOUTHERN CORP

Norfolk Southern Corporation (NYSE: NSC) is a major freight railroad company headquartered in Atlanta, Georgia, that owns and operates Norfolk Southern Railway Company. The company operates approximately 19,100 route miles of track across 22 states and the District of Columbia, making it one of the largest rail transportation networks in the eastern United States. Norfolk Southern's website is www.norfolksouthern.com.

The company generates railway operating revenues of approximately $12.2 billion annually through three primary commodity groups. Merchandise represents the largest revenue segment at 63 percent, encompassing agriculture, forest and consumer products; chemicals; metals and construction; and automotive shipments. Intermodal services account for 25 percent of revenues, consisting of domestic and international container and trailer shipments. Coal transportation represents 12 percent of revenues, serving electric generation markets, export markets, and metallurgical customers through major eastern coal basins and western coal sources received via Memphis and Chicago gateways.

Norfolk Southern operates an extensive intermodal network across the eastern half of the United States and provides access to Atlantic and Gulf Coast ports for overseas freight. The company handled 2.3 million merchandise carloads, 4.1 million intermodal units, and 78 million tons of coal in 2025. The railroad maintains approximately 19,400 employees, with roughly 80 percent covered by collective bargaining agreements with various labor unions.

The company's infrastructure is capital intensive, with net properties valued at approximately $36 billion on a historical cost basis. Norfolk Southern owns or leases 3,258 locomotives and 36,564 freight cars, along with 56,391 intermodal equipment units. The company's fleet includes gondola, hopper, covered hopper, box, and flat cars designed to transport diverse cargo types.

Norfolk Southern competes with CSX Corporation, other railroads, motor carriers, water carriers, and private carriage options. The company's pricing mechanisms, primarily private contracts and exempt price quotes, are not subject to regulatory rate controls. In July 2025, Norfolk Southern entered into a merger agreement with Union Pacific Corporation, subject to regulatory approvals including Surface Transportation Board approval.