Collaboration brings together Schneider’s asset-based expertise with Norfolk Southern’s eastern U.S. intermodal network to deliver greater efficiency and more flexible capacity for shippers

Key Takeaways

Norfolk Southern and Schneider are partnering to advance domestic intermodal growth by combining Norfolk Southern’s eastern U.S. rail network and infrastructure investments with Schneider’s asset-based intermodal services.The partnership gives shippers a more scalable alternative to over-the-road transportation, with improved efficiency, flexible capacity and greater supply chain resilience.Schneider brings 35 years of intermodal expertise, professional company drivers, company-owned tractors, approximately 23,900 chassis and 26,800 containers and more than 60 North American intermodal rail hubs.Norfolk Southern is investing ahead of customer demand across its 22-state intermodal network, including gateway capacity, terminal expansions, double-stack clearance improvements, reliability upgrades and enhanced security.

ATLANTA and GREEN BAY, Wis., Oct. 29, 2026 /PRNewswire/ — Norfolk Southern Corporation (NYSE: NSC) and Schneider National, Inc. (NYSE: SNDR), a premier multimodal provider of transportation, intermodal and logistics services, today announced a strategic agreement that combines Schneider’s 35 years of intermodal expertise, professional company drivers, company-owned assets and logistics capabilities with Norfolk Southern’s extensive eastern U.S. intermodal network and ongoing infrastructure investments.

The partnership brings together two networks built around breadth, consistency and customer growth at a time when demand for intermodal solutions continues to build. Schneider’s Intermodal Service is backed by company-owned tractors, approximately 23,900 chassis and 26,800 containers, more than 60 intermodal rail hubs across North America, and professional company dray drivers who complete more than 90% of Schneider’s domestic dray moves. Norfolk Southern’s intermodal volumes grew 3% in the third quarter of 2026, supported by steady consumer demand, favorable truck-market dynamics and network improvements.

“Schneider’s Intermodal network is built on a strong asset-based foundation that gives customers the control, consistency and reliability they depend on,” said Michael Baumgardt, Executive Vice President of Intermodal and Logistics at Schneider. “As we transition our primary eastern rail provider to Norfolk Southern, we’ll expand access to key markets, increase network flexibility and create new opportunities to better serve our customers. It will strengthen Schneider’s competitive position and enhance the reliable service experience our customers expect.”

As one of the largest intermodal carriers in North America, Schneider brings more than three decades of intermodal expertise to help customers move freight with truck-like reliability and rail-driven efficiency. In addition to its company-owned containers, lightweight chassis, company-operated dray fleet, and company drivers, Schneider also supports performance through priority rail access, proactive execution across long-haul lanes, satellite tracking for real-time visibility, and advanced security measures. Aligning with Norfolk Southern reflects Schneider’s commitment to evolving with customer needs and changing freight flows. Norfolk Southern’s expansive eastern network broadens Schneider’s reach, creating new opportunities to grow with existing customers, attract new freight, and convert truckload shipments to intermodal.

“Customers are taking a broader view of intermodal than ever before, and we are investing ahead of that demand,” said Ed Elkins, EVP and Chief Commercial Officer at Norfolk Southern. “By combining Norfolk Southern’s network reach, as well as our terminal investments and capacity, with Schneider’s proven logistics expertise, owned equipment and customer relationships, we are creating new opportunities to move freight across North America and make rail a stronger part of the domestic supply chain.”

The agreement builds on Norfolk Southern’s strategy to invest ahead of customer growth across its 22-state intermodal network. Recent and ongoing projects include a new service between Cincinnati and Atlanta; double-stack clearance improvements connecting the Midwest and New England through the East Edge route; and terminal expansions in Ohio, Michigan, North Carolina and Illinois. At facilities across Atlanta, Louisville, Harrisburg, Croxton, Chesapeake, Charlotte, Chicago and St. Louis, Norfolk Southern is also improving pavement, lighting, storage areas, maintenance facilities, truck access routes and security systems to strengthen reliability, driver turn times and the everyday terminal experience customers depend on.

This collaboration reflects a shared commitment to making intermodal transportation more dependable and more accessible for customers. By bringing together complementary strengths and investing for long-term growth, Schneider and Norfolk Southern are helping shape the future of domestic freight transportation.

About Norfolk Southern
Since 1827, Norfolk Southern Corporation (NYSE: NSC) and its predecessor companies have safely moved the goods and materials that drive the U.S. economy. Today, it operates a customer-centric and operations-driven freight transportation network. Committed to furthering sustainability, Norfolk Southern helps its customers avoid approximately 15 million tons of yearly carbon emissions by shipping via rail. Its dedicated team members deliver more than 7 million carloads annually, from agriculture to consumer goods. Norfolk Southern also has the most extensive intermodal network in the eastern U.S. It serves a majority of the country’s population and manufacturing base, with connections to every major container port on the Atlantic coast as well as major ports in the Gulf of Mexico and Great Lakes. Learn more by visiting www.NorfolkSouthern.com.

About Schneider
Schneider is a premier multimodal provider of transportation, intermodal and logistics services, helping customers turn supply chain complexity into greater control. Backed by more than 90 years of operational expertise and innovation, Schneider delivers reliable, flexible and responsible solutions that help businesses move freight with confidence.

Schneider’s broad portfolio includes Regional and Long-Haul Truckload, Expedited, Dedicated, Bulk, Intermodal, Brokerage, Warehousing, Supply Chain Management, Port Logistics and Logistics Consulting. Through its digital marketplace, Schneider FreightPower®, the company gives shippers access to an expanded, highly flexible capacity network and carriers access to quality drop-and-hook freight.

For more information about Schneider, visit Schneider.com or follow the company socially on Facebook, LinkedIn and X: @WeAreSchneider. Always Delivering. Always Ahead. 

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SOURCE Norfolk Southern Corporation

The article explains how practical updates and local market conditions can help homeowners prepare for a successful sale.

RACINE, Wis., Oct. 29, 2026 /PRNewswire/ — HelloNation Article Examines Home Improvements Before Selling, Featuring Real Estate Expert Rosa Stong

The article explains how practical updates and local market conditions can help homeowners prepare for a successful sale.

What should you fix before listing your house? HelloNation answers that question in an article featuring insights from Real Estate Expert Rosa Stong of Becker Stong Real Estate Group in Racine, Wisconsin.

The article explains that preparing your home for sale begins with understanding that every property and every seller’s situation is different. While many homeowners wonder whether to invest in major renovations, the article notes that the best time to sell depends on your situation, and the same principle applies to deciding which updates to complete before listing. Thoughtful preparation can often produce stronger results than expensive remodeling projects.

According to the HelloNation article, many of the most effective pre-sale home improvements involve addressing basic maintenance issues that buyers quickly notice. Loose door handles, dripping faucets, damaged light fixtures, cracked caulk, and scuffed walls can suggest routine upkeep has been neglected. Completing these repairs shows the property has been well cared for and can increase buyer confidence during showings.

The article also highlights fresh paint as one of the most affordable and effective updates sellers can make. Neutral paint colors help rooms appear brighter, cleaner, and more spacious while making it easier for buyers to imagine themselves living in the home. Repainting worn or boldly colored spaces often creates a noticeable improvement without requiring a significant financial investment.

Curb appeal receives similar attention because buyers begin evaluating a property before they step inside. The article explains that maintaining the lawn, trimming landscaping, cleaning walkways, and refreshing the front door can create an inviting appearance. These relatively simple improvements help establish a positive first impression and encourage greater buyer interest from the moment prospective buyers arrive.

The HelloNation article also discusses home staging as another valuable tool when preparing your home for sale. Professional staging may not always be necessary, but thoughtfully arranging furniture, removing excess personal belongings, and organizing storage areas can help rooms feel larger and more functional. Clean countertops and uncluttered living spaces allow buyers to focus on the home’s layout instead of the current owner’s possessions.

Rather than recommending costly remodeling projects, the article encourages sellers to focus on updates that appeal to a broad audience. Replacing outdated cabinet hardware, installing modern light fixtures, updating faucets, and improving worn flooring can create a fresh look while keeping costs manageable. These practical pre-sale improvements often add more value than highly personalized renovations that may not appeal to every buyer.

The article further explains that preparation decisions should reflect local market conditions and the home’s price range. In highly competitive markets, buyers may overlook small cosmetic imperfections. In slower markets, presentation becomes more important because buyers often have more options. Real Estate Expert Rosa Stong notes in the article’s insights that understanding local buyer expectations helps homeowners prioritize improvements most likely to generate buyer interest.

The article concludes that preparing your home for sale is about showcasing the property’s strengths while reducing distractions for potential buyers. Completing needed repairs, improving curb appeal, applying fresh paint where appropriate, and making thoughtful cosmetic updates can help create a welcoming experience while recognizing that the best time to sell depends on your situation.

The Best Time to Sell Depends on Your Situation features insights from Rosa Stong, a real estate expert in Racine, Wisconsin, in HelloNation.

About HelloNation

HelloNation is America’s Good News Network, a premier media platform built on the idea that good news travels faster when real people tell real stories. Through its community-focused publications and innovative “edvertising” approach, HelloNation delivers content that informs, inspires, and spotlights the leaders making a meaningful impact in their communities.

www.hellonation.com

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SOURCE HelloNation

Q3 Net revenue of $131 million (+20% YoY)Q3 GAAP diluted EPS of $0.47; Adjusted diluted EPS of $0.45Q3 Adjusted EBITDA of $71 million (+47% YoY); Adjusted EBITDA margin of 54% (+>1,000 bps YoY)Updates full-year 2026 expense guidance

PRINCETON, N.J. and MIAMI, Oct. 29, 2026 /PRNewswire/ — Miami International Holdings, Inc. (MIAX or MIH) (NYSE: MIAX), a technology-driven leader in building and operating regulated financial markets across multiple asset classes, today announced financial results for the third quarter of 2026.

MIAX delivered strong financial results in Q3 2026. Total net revenue grew 20% year-over-year to $131.0 million, adjusted EBITDA increased 47% to $70.8 million, and adjusted EBITDA margin was 54%. Adjusted diluted earnings per share was $0.45. The company’s options business posted a 15% year-over-year increase in average daily volume to 11.1 million contracts.

“MIAX’s lean, high-margin operating model enabled us to deliver strong revenue growth and margin expansion in the third quarter,” said Thomas P. Gallagher, Chairman and Chief Executive Officer of MIAX. “Net revenue grew 20% year-over-year and options market share increased to 17.4%. Adjusted expenses came in below last year’s level and adjusted EBITDA margin expanded by more than 1,000 basis points.”

Mr. Gallagher added: “Our next growth phase is underway, with Bloomberg index futures now available on NinjaTrader and four fertilizer futures contracts recently launched in response to clear member interest. With a strong balance sheet and the technology, licenses and customer relationships to compete in a fast-changing market, MIAX remains well-positioned to deliver long-term value for our shareholders.”

Third Quarter 2026 Highlights

All figures are compared to the third quarter of 2025 unless otherwise stated.

Net revenue, defined as revenues less cost of revenues, grew 20%, or $21.5 million, to  $131.0 million, compared to $109.5 million in the prior-year period. The increase was primarily driven by strong options business performance, including increased industry volumes and higher non-transaction revenue.Total operating expenses were $83.8 million, compared to $109.8 million in the prior-year period. The decrease was primarily due to initial public offering (IPO) related expense in 2025.Total adjusted operating expenses of $60.3 million decreased 2% compared to the prior-year period.Operating income was $47.2 million, compared to an operating loss of  $0.3 million in the prior-year period.GAAP net income was $52.5 million, compared to a net loss of $102.1 million in the prior-year period.Adjusted earnings increased 25% to $50.1 million, compared to $39.9 million in the prior-year period.Adjusted EBITDA increased 47% to $70.8 million, compared to $48.0 million in the prior-year period, driven primarily by strong growth in net revenues.Adjusted EBITDA margin expanded to 54% from 44% in the prior-year period.Diluted EPS of $0.47 compared to $(1.46) in the prior-year period.Adjusted diluted EPS of $0.45 compared to $0.42 in the prior-year period.

Third Quarter 2026 Business Updates

MIAX options exchanges reached average daily volume of 11.1 million contracts in the third quarter of 2026, a 15.2% year-over-year (YoY) increase.MIAX options exchanges achieved market share of 17.4% in the third quarter of 2026, compared to 17.2% in the prior year period.MIAX options exchange revenue per contract declined 4.9% YoY to $0.098.

Options

Net revenue grew 19% to $112.6 million, compared to $94.5 million in the prior-year period. Growth was primarily driven by both net transaction fees and non-transaction fees. Net transaction fees increased due to higher industry volume, and higher market share, partially offset by lower revenue per contract (RPC). Higher non-transaction fees were primarily driven by increased member connections, and 2026 fee increases.Operating income increased 44% to $73.9 million, compared to $51.4 million in the prior year period. Growth was primarily due to higher net revenues, and lower expenses as the prior-year period included accelerated share-based compensation expenses.Adjusted EBITDA grew 25% to $86.5 million, compared to $69.1 million in the prior-year period.

Equities

Net revenue grew 53% to $6.7 million, compared to $4.4 million in the prior-year period. The increase was primarily due to higher net transaction fees from improved capture.Operating loss of $2.9 million in the third quarter, compared to an operating loss of $4.9 million in the prior-year period. Growth was primarily due to higher net revenues.Adjusted EBITDA of $1.0 million, compared to ($0.9) million in the prior-year period.

Futures

Net revenue was $5.0 million, compared to $4.8 million in the prior-year period. Net transaction fees were relatively flat as increases in agricultural future revenues were offset by inverted financial futures revenue.Operating loss was $12.2 million, compared to an operating loss of $18.5 million in the prior year period. Growth was primarily due to lower expenses as the prior-year period included accelerated share-based compensation expenses.Adjusted EBITDA of ($8.4) million, compared to ($9.6) million in the prior-year period.

International 

Net revenue was $6.1 million, compared to $5.5 million in the prior-year period. The increase was primarily due to increased total listed securities by The International Stock Exchange Group Limited (TISE).Operating income was $1.3 million, compared to $0.8 million in the prior-year period. The increase was primarily due to increased net revenue.Adjusted EBITDA of $2.3 million, compared to $1.7 million in the prior-year period.

Capital and Liquidity

As of September 30, 2026, MIAX had cash and cash equivalents of $698.9 million and total debt of $1.5 million.

FY 2026 Guidance

The company is updating full year 2026 expense guidance and now expects:

Adjusted operating expenses, which exclude share-based compensation, depreciation and amortization, litigation and litigation settlement expenses, and provision for notes receivable in a range between $254 million and $257 million, down from previous guidance of between $260 million and $270 million;Share-based compensation expense in a range between $30 million and $32 million, compared to previous guidance of between $29 million and $32 million;Capital expenditures, including capitalization of internally developed software, in a range between $43 million and $46 million, compared to previous guidance of between $40 million and $45 million;Depreciation and amortization expense in a range between $36 million and $38 million, compared to previous guidance of between $35 million and $39 million;Adjusted effective tax rate post valuation allowance release in a range between 26% and 28%, compared to previous guidance of between 27% and 29%.

Webcast and Conference Call

MIAX will host a webcast and conference call to review its third quarter financial results today, October 29, 2026 at 5:00 p.m. ET. Participants can access the call at 866-652-5200 (International dial-in 412-317-6060) or access the webcast on the Investor Relations section of MIAX’s website at ir.miaxglobal.com. A webcast recording and corresponding presentation will be archived under Events & Presentations at the above link following the event.

Non-GAAP Financial Information

Adjusted earnings, a non-GAAP financial measure, is defined as net income (loss) attributable to MIH adjusted for share-based compensation, investment gain/loss, litigation costs and settlement, acquisition-related costs, change in fair value of puttable warrants issued with debt, change in fair value of puttable common stock, gain on sale of business, unrealized gain/loss on derivative and digital assets, loss on sale of intangible asset, impairment charges, warrant modifications, one time IPO payments, loss on extinguishment of debt, provision for notes receivable, and non-GAAP tax adjustments.

Adjusted EBITDA, a non-GAAP financial measure, is defined as net income (loss) attributable to MIH adjusted for interest expense and amortization of debt discount costs, interest income, income tax provision and depreciation and amortization, share-based compensation, investment gain/loss, litigation costs and settlement, acquisition-related costs, change in fair value of puttable warrants issued with debt, change in fair value of puttable common stock, gain on sale of business, unrealized gain/loss on derivative and digital assets, loss on sale of intangible asset, impairment charges, warrant modifications, one time IPO payments, loss on extinguishment of debt, and provision for notes receivable.

Adjusted EBITDA margin, a non-GAAP financial measure, is defined as adjusted EBITDA divided by revenues less cost of revenues.

Adjusted diluted EPS, a non-GAAP financial measure, is defined as adjusted earnings divided by diluted weighted average shares outstanding used for adjusted diluted earnings per share (which includes the impact of anti-dilutive securities on a GAAP basis).

Certain components of the guidance given in this presentation with respect to our financial performance for the full year of 2026 are provided on a non-GAAP basis only without providing the most comparable guidance on a GAAP basis or a quantitative reconciliation to guidance provided on a GAAP basis. Information is presented in this manner because the preparation of such guidance on a GAAP basis and such reconciliation could not be accomplished without unreasonable efforts. The company does not have access to certain information that would be necessary to provide such guidance on a GAAP basis or such reconciliation, including non-recurring items that are not indicative of the company’s ongoing operations. The company does not believe that this information is likely to be significant to an assessment of the company’s ongoing operations. 

For a reconciliation of our non-GAAP results to our GAAP results, see the tables below.

About MIAX

Miami International Holdings, Inc. (NYSE: MIAX) is a technology-driven leader in building and operating regulated financial markets across multiple asset classes and geographies. MIAX® operates eight exchanges across options, futures, equities and international markets including MIAX Options®, MIAX Pearl®, MIAX Emerald®, MIAX Sapphire®, MIAX Pearl Equities™, MIAX Futures®, The Bermuda Stock Exchange, and The International Stock Exchange (TISE). MIAX also owns Dorman Trading, a full-service Futures Commission Merchant and Notice Registered Broker-Dealer with the National Futures Association for purposes of facilitating transactions of security futures. To learn more about MIAX please visit www.miaxglobal.com.

Disclaimer and Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements describe future expectations, plans, results, or strategies and are generally preceded by words such as “may,” “future,” “plan” or “planned,” “will” or “should,” “expect,” “anticipates,” “eventually” or “projected.” You are cautioned that such statements are based on management’s current expectations and are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements. Additional risks and uncertainties that may cause actual results to differ materially include the risks and uncertainties listed in MIAX’s public filings with the Securities and Exchange Commission. In providing forward-looking statements, the company is not undertaking any duty or obligation to update these statements publicly as a result of new information, future events or otherwise.

All third-party trademarks (including logos and icons) referenced by the company remain the property of their respective owners. Unless specifically identified as such, the company’s use of third-party trademarks does not indicate any relationship, sponsorship, or endorsement between the owners of these trademarks and the company. Any references by the company to third-party trademarks is to identify the corresponding third-party goods and/or services and shall be considered nominative fair use under the trademark law.

Contacts:

Investors 
John T. Williams
investor.relations@miaxglobal.com

Media 
Andy Nybo
media@miaxglobal.com

Reconciliation of Net Income (Loss) to EBITDA and Adjusted EBITDA

The following table is a reconciliation of net income (loss) allocated to common stockholders to EBITDA and adjusted EBITDA by segment ($000):

Segment Operating Results

The following sets forth our results of operations by segment ($000):

The following summarizes revenues less cost of revenues, operating expenses, operating income (loss), adjusted EBITDA and adjusted EBITDA margin for our business segments ($000, except percentages):

Reconciliations of GAAP Net Income (Loss) to Adjusted Earnings

The following table is a reconciliation of net income (loss) allocated to common stockholders to adjusted earnings ($000):

Earnings Per Share

The following table sets forth the computation of diluted net income (loss) and adjusted diluted earnings per share ($000, except share and per share data):

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