Union Pacific Q2 Net Income $2.0B, Up 6% YoY — EPS $3.36

Union Pacific reported Q2 2026 net income of $2.0 billion, up 6% year-over-year, according to an SEC Form 8-K filing on July 23 (local time).

📊 Price at Publication (Jul 23, 2026, 21:12 KST)
$292.56 ▼ -0.19%

Quarter at a Glance

Both revenue and net income hit record highs. Higher freight volumes and price increases drove the improved results, though rising fuel costs weighed on profitability.

• Revenue: $6.9 billion, up 12% year-over-year
• Diluted earnings per share (EPS): $3.36 (up 7% from $3.15 a year earlier); adjusted EPS excluding one-time items was $3.41 (up 13% from $3.03)
• Net income: $2.0 billion, up 6% from $1.9 billion a year earlier
• Adjusted net income (excluding one-time items): $2.0 billion, up 12% from $1.8 billion a year earlier
• Operating ratio (operating expenses as a share of revenue, lower is better): 59.7%, up 0.7 percentage points from a year earlier (rising fuel costs contributed a 1.2 percentage-point drag)

Union Pacific CEO Jim Vena said in the earnings release that 'strong execution and volume growth delivered another good quarter.' He added that the company is 'prepared to meet growing customer demand with safety, service, and operational efficiency.'

Outlook

Union Pacific said it raised its full-year 2026 outlook, lifting its EPS growth guidance to the 'high single digits.' The company also maintained its target of high-single-digit to low-double-digit average annual growth through 2027. This year's capital expenditure plan stands at $3.3 billion. The company said it will continue pricing above inflation and keep expanding dividends steadily.

Market Reaction

As of 9:12 p.m. KST on July 23, Union Pacific shares traded at $292.56, down a slight 0.19% from the previous day. Foreign media outlets noted that the results beat market expectations on an EPS basis, with analysts pointing to a combination of higher freight revenue and cost management. The company is also pursuing its acquisition of Norfolk Southern and said it would continue advancing the related regulatory process.

Related Stocks & ETFs

• Union Pacific Corporation (NYSE: UNP) — a freight railroad operator running rail networks across 23 western U.S. states

This article was automatically generated based on the original SEC Form 8-K filing and wire service reports, with the aim of quickly conveying key data immediately after the announcement. Readers are advised to review the company's official filing before making trading decisions. The stock price reflects the time of writing and may differ from the current price.