Union Pacific Corporation
UNP Industrials Railroads
Union Pacific Corporation’s revenue for fiscal 2025 (year ended December 2025) was $24.5 billion, up 1.07% from fiscal 2024.
- Revenue
- +11.5%
- EPS
- +6.33%
- Free cash flow
- +57.7%
- Total debt
- −7.58%
Quarter to June 2026, against a year earlier
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Union Pacific Corporation 10-Q filed Oct 22, 2026
What changed
Part I, Item 2, Management’s Discussion and Analysis, against the 10-Q filed Jul 23, 2026: 31 modified; 12 with only figures updated
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Modified · Quarterly summary
The Company reported earnings of $
3.363.49 per diluted share on net income of $2.02.1 billion and an operating ratio of59.759.1% in thesecondthird quarter of 2026 compared to earnings of $3.153.01 per diluted share on net income of $1.91.8 billion and an operating ratio of59.059.2% in thesecondthird quarter of 2025. Freight revenues increased1215% in thesecondthird quarter of 2026 compared to thesame period inthird quarter of 2025 as higher fuel surcharge revenues,26% volume growth, and core pricing gains more than offset the impact of unfavorable business mix (from higherdomesticintermodal carloads).Second quarter of 2026 volume growth was attributable to a 19% increase in domesticContinued strong intermodalcombined with higherand grain and grain productsand plastics carloads, offsetting the impact of lower international intermodal carloadsshipments coupled with increased metals and minerals andcoal carloads, which declined 14%energy and17%, respectively, compared to the second quarter of 2025specialized market shipments more than offset declines in coal shipments.