---
schema_version: "secwatch.filing_event.v1"
accession: "0001552781-22-000364"
form_type: "8-K"
ticker: "NSC"
cik: "0000702165"
company_name: "NORFOLK SOUTHERN CORP"
filed_at: "2022-04-27T23:59:59+00:00"
generated_at: "2026-06-26T04:17:23.755582+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Norfolk Southern reports record Q1 revenue $2.9B, EPS $2.93; CEO Shaw compensation set

## Summary
- Railway operating revenue $2.9B (+10% YoY), income from ops $1.1B (+7%), net income $703M.
- Diluted EPS $2.93, up from $2.66 in Q1 2021; first-quarter record for revenue, ops income, net income, EPS.
- Railway operating ratio 62.8%; fuel expense rose to $301M (+70% YoY) driven by higher prices.
- Alan H. Shaw CEO base salary $950k, incentive at 225% of base, supplemental LTI award $2.6M effective May 1.
- Repurchased 2.2M shares for $600M in Q1; cash and equivalents rose to $1.571B.

## SEC filing metadata
- accession: 0001552781-22-000364
- form_type: 8-K
- ticker: NSC
- cik: 0000702165
- company_name: NORFOLK SOUTHERN CORP
- filed_at: 2022-04-27T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/702165/000155278122000364/0001552781-22-000364-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/702165/000155278122000364/e22280_nsc-8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001552781-22-000364
- JSON: https://secwatch.observer/filing/0001552781-22-000364.json
- Plain text: https://secwatch.observer/filing/0001552781-22-000364.txt

## Key facts
- Executive change
  Alan H. Shaw was appointed as Chief Executive Officer at NORFOLK SOUTHERN CORP.
  - Action: appointed
  - Role: Chief Executive Officer
  source text: the Board, appointed Alan H. Shaw as Chief Executive Officer ('CEO'), effective May 1, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/702165/000155278122000364/0001552781-22-000364-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.