Union Pacific Reports Third Quarter 2026 Results
Union Pacific reported record Q3 2026 results with operating revenue of $7.2 billion, up 15% year-over-year, and net income of $2.1 billion, up 16%. Diluted EPS rose 16% to $3.49 (adjusted EPS $3.53, +15%), on 6% revenue carload growth, core pricing gains, and record freight revenue, operating income, and net income. Intermodal freight revenue jumped 27%. The operating ratio came in at 59.1% (adjusted 58.8%), with high fuel prices a 140-basis-point headwind; the company affirmed FY2026 guidance of high-single-digit EPS growth and a $3.5 billion capital plan.
Key figures
- Eps
- 3.49
- Revenue
- 7197000000
- Guidance
- Affirmed FY26 reported EPS growth of high-single digit, consistent with 3-year CAGR target of high-single to low-double digit through 2027; capital plan of $3.5 billion; pricing dollars in excess of inflation dollars
- Revenue Yoy
- 15%
- Net income
- 2076000000
- Adjusted eps
- 3.53
- Net income yoy
- 16%
- Freight revenue
- 6813000000
- Operating ratio
- 59.1%
- Adjusted eps yoy
- 15%
- Operating income
- 2943000000
- Ytd free cash flow
- 2362000000
- Revenue carload growth
- 6%
- Adjusted operating ratio
- 58.8%
- Intermodal freight revenue growth
- 27%
- Freight revenue ex fuel surcharge growth
- 6%
AI analysis
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