Union Pacific Corp. (UNP) Financials
Key financial figures for Union Pacific Corp. (Q2 2026).
Union Pacific posted record Q2 2026 operating revenue of $6.9 billion (+12% YoY) and diluted EPS of $3.36 (+7% YoY), even as the reported operating ratio ticked up 70 bps to 59.7% on higher fuel prices. Operating revenue hit a record $6.9 billion, up 12% YoY, driven by higher fuel surcharge, volume growth, core pricing gains, and other revenue, partially offset by unfavorable business mix. Freight revenue rose 12% to $6.518 billion; freight revenue excluding fuel surcharge grew 4%. All three commodity groups grew: Premium +21% to $2.089B (Intermodal +26%, Automotive +11%), Industrial +8% to $2.386B, and Bulk +7% to $2.043B. Reported operating ratio was 59.7% (adjusted 59.2%), up 70 bps (adjusted +110 bps) YoY; management said higher fuel price alone was a 120 bps drag on the ratio. On the outlook: Union Pacific improved its 2026 outlook, now expecting reported EPS growth in the high-single digits (consistent with its 3-year CAGR target of high-single to low-double digits through 2027), and affirmed pricing gains in excess of inflation, continued operating ratio improvement, strong cash generation, a $3.3 billion capital plan, and consistent annual dividend increases; the company also reiterated it is proceeding through the regulatory process on its pending combination with Norfolk Southern. Figures are for Q2 2026, as Union Pacific Corporation reported them.
- Revenue
- $6.9B
- Net Income
- $2.0B
- EPS
- $3.36
- Total Assets
- $71.2B
- Operating Cash Flow
- $3.1B
Recent quarters
| Period | Revenue | Net Income | EPS | Operating Margin | Free Cash Flow |
|---|---|---|---|---|---|
| Q2 FY2026 | $6.9B | $2.0B | $3.36 | 40.25% | $2.2B |
| Q1 FY2026 | $6.2B | $1.7B | $2.87 | 39.36% | $1.5B |
| Q4 FY2025 | $6.1B | $1.8B | $3.11 | 39.23% | $1.2B |
| Q3 FY2025 | $6.2B | $1.8B | $3.01 | 40.82% | $1.6B |
| Q2 FY2025 | $6.2B | $1.9B | $3.15 | 40.92% | $1.4B |
Recent fiscal years
| Period | Revenue | Net Income | EPS | Operating Margin | Free Cash Flow |
|---|---|---|---|---|---|
| FY2025 | $24.5B | $7.1B | $11.97 | 40.14% | $5.5B |
| FY2024 | $24.3B | $6.7B | $11.09 | 40.05% | $5.9B |
| FY2023 | $24.1B | $6.4B | $10.45 | 37.65% | $4.8B |
Frequently asked questions
What was Union Pacific Corporation's revenue last quarter?
Union Pacific Corporation reported revenue of $6.86 billion for Q2 FY2026, up 11.5% from the same period a year earlier.
Is Union Pacific Corporation profitable?
Yes. Union Pacific Corporation reported net income of $1.99 billion for Q2 FY2026, a net margin of 29.04% on revenue.
How has Union Pacific Corporation's margin trended?
Operating margin was 40.25% in Q2 FY2026, compared with 40.92% in the same period a year earlier. The quarter by quarter series is on the SentiSense financials page.
When does Union Pacific Corporation report next?
Union Pacific Corporation is scheduled to report results on 2026-10-22. The company has confirmed that date.
Full income statement, balance sheet and cash flow for Union Pacific Corp. on SentiSense, with up to forty quarters and twenty fiscal years of history.