July 2026 Amtrak Financial Report
The July Report was dated August 31, 2026, and "posted on September 24, 2026.
The Northeast Corridor (NEC) has an operating surplus of $302.7 million, and the remaining National System has an operating deficit of $726.8 million. Combined, the deficit is $424.8 million.
NEC has capital expenditures of $2.8 billion and debt service of $148.8 million, and with Federal Grants and Capital Sources, a carryover balance for the year of $441.1 million plus any accumulated reserves from previous years.
The National System has capital expenditures of $1.5 billion and $0.071 million in debt service. With Federal Grants and Capital Sources, it has a positive balance of $313.5 million plus any accumulated reserves from previous years.
The combined accumulated reserves at October 1, 2025, totaled:
$242 million in cash and cash equivalents;
$116 million in short-term investments;
$2.8 billion in available-for-sale securities;
This brings total cash reserves as of October 1, 2025, to $3.1 billion. The current ratio (Current Assets divided by Current Liabilities) was 1.38, which would make Amtrak quite creditworthy for any fresh borrowings.
In October 2025, Amtrak’s burn rate (Operating Revenues-Minus Operating Expense-Minus Debt Service-Capital Expenditures) was $474.0 million.
Capital Spending for the year-to-date total is $4.314 billion, and breaks down as:
Capital Renewal: $718.5 million;
Mechanical: $293.5 million;
Operations: $35.3 million;
Digital Technology: $202.1 million;
ADA: $171.5 million;
Stations & Facilities: $54.2 million;
Amtrak Police & Emergency Management: $0.1 million;
Safety: $0.6 million;
Environmental: $5.7 million;
Procurement and other: $3.1 million;
Acela 21: $111.2 million;
Bridges, Tunnels & Track: $1.0 billion;
Mega Program: $12.0 million;
Planning & Strategy: $292.1 million;
B&P Tunnel: $399.6 million;
Airo: $275.6 million;
Major Stations: $162.3 million;
Long-Distance Equipment Procurement: $5.0 million;
Facilities: $509.7 million;
Power: $20.8 million;
Commercial: $2.3 million;
Finance and other: $10.4 million;
The total was $198.4 million less than FY2025 for the same period.
The GAAP loss for the year to date appears to be $1.4 billion, which is $56.7 million better than FY2025. The cash operating earnings for the year to date were $107.7 million better than in FY2025. The cash operating loss in July 2026 was $38.2 million.
For cash operating earnings, the corporation is $29.9 million behind its forecast for the fiscal year to date. The GAAP figure is $369.5 million better than the Forecast.
The number of product lines showing an operating surplus for the period was six. The five product lines that were measurable:
Northeast Regional: $210.1 million;
Acela:$ 177.4 million;
Auto Train: $14.6 million;
Ethan Allen: $2.4 million
Adirondack: $1.1 million.
The four Virginia product lines generated a total loss of $28.2 million.
Ridership for the Fiscal Year so far is more than 2,056,600 from FY2025.
For the year, ridership stands at 30,647,800 (Amtrak reports ridership to the nearest 100). The total number of riders in June was 3,321,100.
Congress passed a Continuing Resolution to keep the government open through December 11, 2026. Amtrak's appropriations for this period would be prorated with the current level of appropriations. But the pre-appropriated items such as the Federal State Partnership were not funded in the resolution.
One of the two boring machines at the Palisades is nearing completion. While the Gateway website says that boring will commence by the end of the year, it is possible that one of the bores might begin earlier. The other machine has a few parts welded together on site, and at the current welding rate, it does not look like it will be ready until next spring.
The new Aero Train sets have begun operating in the Cascade Corridor. Two frequencies, one between Eugene and Seattle and one between Seattle and Vancouver, BC, were selected.
Steve Musen, Representative from Rhode Island to NARP's Council of Representatives