| Metric | Value ($ M) | Q2 FY26 | Q3 FY25 |
|---|---|---|---|
| Revenue | 7.2K | 4.8% | 15.3% |
| Total Income | 7.2K | 4.8% | 15.3% |
| Expenditure | 4.3K | 3.7% | 15.1% |
| PBT | 2.7K | 6.7% | 17.6% |
| Net Profit | 2.1K | 4.2% | 16.1% |
| OPM | 40.89% | 0.64pp | 0.07pp |
| NPM | 28.84% | 0.19pp | 0.21pp |
| EPS | 3.50 | 4.2% | 15.9% |
Union Pacific Reports Q3 2026 Results: Net Income Up 16% to $2.1 Billion
22 Oct 2026 · 1d ago, 5:26 pm
Summary
Union Pacific Corporation announced strong third quarter 2026 results, with net income rising 16% to $2.1 billion and diluted EPS increasing by 16% to $3.49. Total operating revenue grew 15% year-over-year to $7.2 billion, driven by a 6% increase in revenue carloads, higher fuel surcharges, and core pricing gains. The company's operating ratio improved slightly to 59.1%. Management highlighted the ability to safely deliver service while handling volume growth, reinforcing their position as an industry leader.
Key Highlights
- 1
Union Pacific reported third quarter 2026 net income of $2.1 billion, a 16% increase compared to the prior year.
- 2
Diluted earnings per share (EPS) for the third quarter of 2026 were $3.49, also up 16% year-over-year.
- 3
Operating revenue for the third quarter of 2026 reached $7.2 billion, marking a 15% increase driven by higher fuel surcharge, volume growth, and pricing gains.
- 4
Revenue carloads grew by 6% in the third quarter of 2026 compared to the same period in 2025.
- 5
The reported operating ratio improved to 59.1% in the third quarter of 2026, a 10 basis point improvement.
- 6
Adjusted diluted EPS for Q3 2026 was $3.53, an increase of 15% compared to Q3 2025.
Management Comments
Jim Vena
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 executed at a consistently high level, enabling record financial results and further reinforcing our position as the industry leader. 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.
Informational and educational content only. Not investment advice.