UNION PACIFIC $UNP Q3’26 EARNINGS HIGHLIGHTS
🔹 Revenue: $7.20B (Est. $7.11B) 🟢; +15% YoY
🔹 Adj. EPS: $3.53 (Est. $3.47) 🟢; +15% YoY
🔹 Adj. Oper Income: $2.97B (Est. $2.92B) 🟢
🔹 Adj. Net Income: $2.10B (Est. $2.06B) 🟢
🔹 Adj. Operating Ratio: 58.8%
FY26 Guide:
🔹 Reported EPS Growth: High-single digit
🔹 Capital Plan: $3.5B
Freight Revenue by Group:
🔹 Bulk: $2.12B; +10% YoY
🔹 Industrial: $2.51B; +14% YoY
🔹 Premium: $2.19B; +21% YoY
Other Q3 Metrics:
🔹 Operating Ratio: 59.1%
🔹 Freight Revenue: $6.81B; +15% YoY
🔹 Freight Revenue ex Fuel Surcharge: +6% YoY
🔹 Revenue Carloads: +6% YoY
Key Updates:
🔹 GAAP EPS: $3.49; adj. EPS of $3.53 excludes $0.04 of acquisition-related expense
🔹 Acquisition-related expense: $22M; excluded from adjusted results
🔹 Revenue Drivers: higher fuel surcharge, 6% volume growth, core pricing gains and increased other revenue partially offset by business mix
Comments:
🔸 “Union Pacific's third quarter results demonstrate our ability to safely deliver the service we sold to our customers while efficiently handling six percent volume growth.”
🔸 “We look forward to the upcoming steps of the Surface Transportation Board's merger review process and to delivering the benefits of America's first transcontinental railroad for our customers.”
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