May 2026 Amtrak Financial Report
The May Report was dated June 30, 2026, and posted on July 24, 2026. Amtrak changed the name of the report (from Amtrak Monthly Financial Report) to Amtrak Monthly Report. The previous Amtrak Monthly Reports dealt with on-time performance, and that material disappeared with the changeover.
The Northeast Corridor (NEC) has an operating surplus of $247.5 million, and the remaining National System has an operating deficit of $577.0 million. Combined, the deficit is $329.5 million.
NEC has capital expenditures of $2.2 billion and debt service of $121.3 million, and with Federal Grants and Capital Sources, a carryover balance for the year of $126.3 million plus any accumulated reserves from previous years.
The National System has capital expenditures of $1.1 billion and $0.1 million in debt service. With Federal Grants and Capital Sources, the balance is a negative $559.6 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, and $2.7 billion in available-for-sale securities. This brings total cash reserves as of October 1, 2024, 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 $474.964 million.
November, the burn rate was $394.741 million.
December, the burn rate was $464.160 million.
January, the burn rate was $471.8 million.
February, the burn rate was $468.3 million.
March, the burn rate was $423.8 million.
April, the burn rate was $554.2 million.
May, the burn rate was $508.4 million.
Total Capital Spending for the year to date is $3.313 billion and breaks down as:
Capital Renewal: $561.0 million;
Mechanical: $228.9 million;
Operations: $27.9 million;
Digital Technology: $155.3 million;
ADA: $132.3 million;
Stations & Facilities: $42.6 million;
Amtrak Police & Emergency Management: $0.1 million;
Safety: $0.2 million;
Environmental: $5.1 million;
Procurement and other: $2.0 million;
Acela 21: $95.8 million;
Bridges, Tunnels & Track: $860.1 million;
Mega Program: $10.0 million;
Planning & Strategy: $251.0 million;
B&P Tunnel: $288.6 million;
Airo: $126.9 million;
Major Stations: $996.1 million;
Long-Distance Equipment Procurement: $3.1 million;
Facilities: $392.0 million;
Power: $12.4 million;
Commercial: $2.1 million;
Finance and other: $15.7 million;
The total was $103.2 million less than FY2025 for the same period.
The GAAP loss for the year to date appears to be $1,132.0 billion, which is $108.4 million better than FY2025. The cash operating earnings for the year to date were $138.1 million better than in FY2025. The cash operating loss in May 2026 was $37.3 million.
For cash operating earnings, the corporation is $2.2 million ahead of its forecast for the fiscal year to date. The GAAP figure is $343.6 million better than the Forecast.
The number of product lines showing an operating surplus for the period was five. All five product lines were measurable:
Northeast Regional: $158.7 million
Acela: $141.5 million
Auto Train: $12.5 million
Ethan Allen: $2.8 million
Adirondack: $1.5 million
The four Virginia product lines generated a total loss of $21.6 million.
Ridership for the Fiscal Year so far is more than 1,436,200 from FY2025.
For the year, Ridership stands at 23,900,900 (Amtrak reports ridership to the nearest 100). The total number of riders in April was 3,264,700.
One of the two boring machines to be used under the Palisades (New Jersey) is beginning to take shape. A contract to construct the connection between the Secaucus and the Palisades has been let.
Nothing new has occurred regarding the 2027 THUD Appropriations since the House Appropriations Committee approved its draft. The draft does contain an earmark of $250,000 for Westerly Station.
Steve Musen, Representative from Rhode Island to NARP's Council of Representatives