UNP · 10-Q · 2026Q3

UNION PACIFIC CORP

Filed 2026-10-22 · Other · View original filing on EDGAR

Ranked Events

• Fuel Cost PressureImportance 69 · Surprise 64
  Union Pacific said locomotive diesel fuel prices climbed to record levels amid continued supply chain pressures in the third quarter of 2026. The average price per gallon rose 64% year over year, to $4.21 from $2.56,…
• Market Demand TrendsImportance 54 · Surprise 40
  Third-quarter freight revenue increased 15% year over year, with carloads up 6%, as higher fuel surcharge revenue, core pricing gains, and volume growth more than offset an unfavorable mix from higher intermodal…
• Operating Margin DriversImportance 54 · Surprise 40
  Third-quarter operating income increased 15% to $2.9 billion, and the operating ratio improved 0.1 percentage point to 59.1% from 59.2% a year earlier. Top-line growth, productivity, and lower acquisition-related costs…
• Revenue Performance and MixImportance 54 · Surprise 40
  Third-quarter 2026 operating revenues increased 15% to $7.197 billion, while freight revenues rose 15% to $6.813 billion; nine-month operating and freight revenues increased 10% to $20.278 billion and $19.224 billion,…
• Capital Expenditure OutlookImportance 52 · Surprise 42
  Union Pacific expects its 2026 capital plan to be approximately $3.5 billion. Planned spending supports growth, network safety, resiliency and operational efficiency, infrastructure hardening, and replacement of older…
• Cash Flow and LiquidityImportance 52 · Surprise 22
  Cash provided by operating activities increased 18% to $8.302 billion in the first nine months of 2026, reflecting lower income taxes paid and higher net income. Cash used in investing activities was $3.456 billion, up…
• Liquidity and Debt PositionImportance 49 · Surprise 32
  Debt was $30.324 billion at September 30, 2026, down from $31.814 billion at December 31, 2025, and debt to net income improved to 4.0 from 4.5. Adjusted debt to adjusted EBITDA declined to 2.4 from 2.7 over the same…
• Capital Expenditure PlanImportance 49 · Surprise 32
  Union Pacific’s 2026 capital plan is approximately $3.5 billion. Cash capital investments totaled $2.834 billion in the first nine months of 2026, compared with $2.792 billion in the same 2025 period. Road…
• Operating Expense TrendsImportance 47 · Surprise 22
  Operating expenses increased 15% in the third quarter to $4.254 billion and 10% in the first nine months to $12.114 billion. Quarterly increases reflected higher fuel prices, volume-related costs, inflation, and…
• Quarterly Dividend IncreaseImportance 45 · Surprise 50
  Union Pacific increased its quarterly dividend from $1.38 to $1.42 per share in the third quarter of 2026. The company paid $2.484 billion in dividends during the first nine months of 2026, compared with $2.418 billion…
• Manufacturing And CapacityImportance 44 · Surprise 24
  Union Pacific’s 2026 capital plan includes investments intended to support growth and improve network safety, resiliency, and operating efficiency. Planned projects include terminal investments for the manifest network…
• Income Tax Rate ChangesImportance 41 · Surprise 48
  Income tax expense increased 23% in the third quarter and 19% in the first nine months of 2026, driven by higher pretax income and lower deferred tax adjustments. The effective tax rate rose to 23.8% from 22.9% for the…
• Network Capacity and ServiceImportance 37 · Surprise 32
  Union Pacific handled 6% higher carload volume in the third quarter while freight car velocity improved 1% and terminal dwell improved 2%. The railroad leveraged capacity investments and optimized its transportation…
• Mexico Freight GrowthImportance 37 · Surprise 32
  Mexico freight revenue increased 9% to $820 million in the third quarter, with volume up 4%. Intermodal, finished vehicles, and construction-related shipments drove growth, partly offset by lower grain and forest…
• Intermodal Market PositionImportance 31 · Surprise 32
  Third-quarter intermodal volume increased 11%, with domestic growth supported by business development and reduced truck-market capacity. International intermodal carloads also increased, reflecting improving U.S. West…
• Industrial Market DemandImportance 31 · Surprise 32
  Industrial freight shipments increased 6% in the third quarter, with all industrial business teams contributing to volume growth. Higher domestic steel, construction project-related materials, and plastics demand,…
• Bulk Market DemandImportance 31 · Surprise 32
  Bulk freight revenue increased 10% in the third quarter, driven by fuel surcharge revenue and core pricing gains on essentially flat volume. Continued export grain strength and higher renewable fuels, ethanol, and…

Revenue by Product (in millions)