Norfolk Southern reports Q2 2025 earnings with $3.1B revenue, 62.2% operating ratio, and confirms historic $85B merger talks with Union Pacific to create transcontinental railroad.

Union Pacific and Norfolk Southern today announced an $85 billion deal to tie their networks together and create the first U.S. transcontinental railroad. The merged company — which will be called Union Pacific — will transform the U.

Union Pacific said on Tuesday it would buy smaller rival Norfolk Southern in an $85 billion deal to create the first U.S. coast-to-coast freight rail operator and reshape the movement of goods from grains to autos across the country.