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Norfolk Southern Posts Double-Digit Revenue Growth on Volume Gains Across All Segments

Norfolk Southern's second-quarter operating income climbed 5% to $1.19 billion as revenue surged 11% to a record $3 billion, driven by volume increases across all three business segments. Overall volume growth reached 4%, with intermodal shipments up 5% fueled by domestic loads and coal carloads rising 3% on the back of a 25% export surge. The railroad's adjusted operating ratio was 65.1 points from a year ago. Expenses increased 15% due to higher fuel costs and inflation. Chief Executive Mark George attributed the strength to energy market gains that have broadened into domestic intermodal and industrial products. The Atlanta-based carrier has improved network speeds after winter weather disruptions, though some crew shortages remain in select locations. Tighter trucking capacity is expected to drive additional highway-to-rail conversions.