UNP · Earnings call · 2026Q3T · Full report

Supply Chain And Inventory

UNION PACIFIC CORP · 2026-10-22 · Importance 40 · Surprise 42

Management said Union Pacific responded to improving freight demand by unstacking containers and deploying buffer resources, while preserving additional surge capacity. It had added locomotives to service and had more than 300 employees in training to ensure crews were available if growth accelerated; management cited 589 excess locomotives, including 289 stored. Boxcar orders were near 100% of the company's mutual commitment program, and management said the railroad was at full capacity on car orders. These resources supported higher volumes while maintaining service and network fluidity.