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Union Pacific Corp. (UNP)
NYSE:UNP
Earnings Data
Report Date
Apr 23, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
2.83Last Year’s EPS
2.7Same Quarter Last Year
Moderate Buy
Based on 14 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized multiple operational and financial record achievements (net income, EPS, productivity, safety, freight revenue ex-fuel, domestic intermodal, cash returned to shareholders and ROIC) and management presented a confident, execution-focused outlook. At the same time, there are clear near-term headwinds: Q4 volume softness (especially international intermodal), mix pressure, rising operating costs (including merger-related and inflation-driven expense increases), and regulatory uncertainty around the merger which pauses some capital actions. Management expects mid-single-digit EPS growth in 2026, plans targeted capital investment ($3.3B) to support productivity, and reiterated commitment to improving the operating ratio despite a softer macro environment.Company Guidance
Record Full-Year Profitability
2025 reported net income of $7.1 billion, up 6% year-over-year, and reported EPS of $11.98, up 8%; full-year adjusted operating ratio improved 60 basis points to 59.3% versus 2024.
Freight Revenue Growth (Ex-Fuel)
Full-year 2025 freight revenue excluding fuel grew 3% versus 2024 and set a best-ever full-year record, driven by strong core pricing gains and an additional 113,000 cars.
Quarterly Financial Records
Q4 reported net income of $1.8 billion (quarter record), reported EPS $3.11, adjusted EPS $2.86, and Q4 adjusted operating ratio of 60%.
Outstanding Operational Productivity
Best-ever full-year and multiple quarterly records across safety, service and operations: freight car velocity 239 miles/day (+9% vs prior Q4 record), terminal dwell 19.8 hours (record), locomotive productivity +4% in Q4 vs 2024, workforce productivity improved 3% (full year) while using 3% fewer employees to move 1% more volume.
Intermodal and Domestic Wins
2025 was the best-ever year for domestic intermodal with record results in the quarter driven by strong service and business wins despite weaker international intermodal trends.
Strong cash generation and shareholder returns
Full-year cash from operations of $9.3 billion (roughly flat vs 2024); cash returned to shareholders grew 25% to $5.9 billion through dividends and share repurchases.
Balance Sheet and ROIC Strength
Adjusted debt/EBITDA finished at 2.7x and return on invested capital improved 50 basis points to 16.3%, maintaining strong credit and A ratings.
Other Income and Asset Monetization
Other income was the best-ever quarter, increasing by $264 million in Q4 primarily due to industrial parkland sales, demonstrating opportunistic asset monetization.
Capital Plan Focused on Productivity
2026 targeted capital spending of roughly $3.3 billion prioritized safety, core infrastructure, locomotive modernization and targeted capacity projects (siding extensions, terminals, Inland Empire and Phoenix intermodal investments) to support future growth and efficiency.
Rapid Weather Recovery and Operational Resilience
Company reported quick recovery from a major winter weather event, ~70% recovered in impacted southern regions within days and expected to be fully recovered shortly; management highlighted operational buffer and resource positioning.
UNP Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
UNP Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Jan 27, 2026 | $230.89 | $232.55 | +0.72% |
Oct 23, 2025 | $223.93 | $218.76 | -2.31% |
Jul 24, 2025 | $228.23 | $217.88 | -4.53% |
Apr 24, 2025 | $215.84 | $211.58 | -1.97% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Union Pacific Corp. (UNP) report earnings?
Union Pacific Corp. (UNP) is schdueled to report earning on Apr 23, 2026, Before Open (Confirmed).
What is Union Pacific Corp. (UNP) earnings time?
Union Pacific Corp. (UNP) earnings time is at Apr 23, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is UNP EPS forecast?
UNP EPS forecast for the fiscal quarter 2026 (Q1) is 2.83.
