UNION PACIFIC CORP is expected to release its Q3 2026 10-Q filing on October 21, 2026, before market open. Last quarter: Union Pacific delivered Q2 FY2026 diluted EPS of $3.36 (+6.7% YoY) on revenue of $6.864B (+11.5% YoY), as strong pricing and freight demand offset a higher operating ratio driven by a 60% jump in fuel prices and Norfolk Southern acquisition-related expenses.
EPS Estimate
$3.35
Revenue Estimate
$6.72B
Analyst consensus from Finnhub. Actual results posted within minutes of the SEC filing on the UNP page.
Drawn from management commentary in the Q2 2026 10-Q:
Freight revenues increased 12% in Q2 2026 to $6,518M from $5,843M, driven by higher fuel surcharge revenues (up to $1.0B from $569M), 2% carload growth, and core pricing gains, partially offset by unfavorable business mix from higher domestic intermodal (up 19%) which carries lower average revenue per car. Coal carloads declined 17% and international intermodal declined 14%.
Operating income increased 9% to $2.8B, but the operating ratio of 59.7% deteriorated 0.7 points versus Q2 2025's 59.0%, primarily due to a 60% YoY increase in average locomotive diesel fuel price ($3.86/gallon vs $2.42/gallon) and acquisition-related expenses tied to the pending Norfolk Southern merger.
The company paused share repurchases (buybacks fell to just $26M YTD from $2,679M prior year) as part of the pending Norfolk Southern acquisition announced in Q3 2025, and incurred acquisition-related expenses that contributed to higher purchased services and materials costs.
Revenue
$6.86B
++11.54% YoY
EPS (Basic)
$3.36
++6.33% YoY
Operating Income
$2.76B
++9.43% YoY
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