NYSE$UNP
Union Pacific Corp · Q2 2025 earnings
Q2 2025 earnings · · Before market open · Investor relations
Briefing
Union Pacific reported Q2 2025 operating revenue with net income of $1.88B and strong operating leverage.
The railroad reported net income of approximately $1.88 billion in the quarter ended June 30, 2025. Volume, yield, and productivity initiatives shaped results as intermodal and bulk commodities moved through the network. Fuel prices and labor agreements remain industry-wide variables.
- Q2 net income ~$1.88B.
- Volume and pricing support core freight revenue.
- Productivity and network efficiency remain priorities.
- Grain, energy, and intermodal demand drive mix shifts.
Headline financials
Revenue & EPS history
Union Pacific · Revenue · Quarterly
$6.15B
Revenue by segment
Union Pacific · $5.55B total across 10 segments · Q3 2023
- Intermodal$1.11B-17.9%20.1%
- Grain & Grain Products$825M-6.3%14.9%
- Energy & Spec. Markets$611M-2.1%11.0%
- Automotive$609M+1.3%11.0%
- Chemicals & Plastics$557M-3.8%10.0%
- Metals & Minerals$556M-7.5%10.0%
- Coal & Renewables$488M-20.1%8.8%
- Forest Products$333M-14.6%6.0%
- Food & Refrigerated$259M-10.7%4.7%
- Fertilizer$194M+9.0%3.5%
Forward guidance
Energy and environmental services outlook ties to commodity prices and volumes.
Tailwinds
- Production or volume growth and pricing.
- Capital discipline and shareholder returns.
Headwinds
- Commodity volatility and regulatory changes.
- Weather and operating cost inflation.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2025
+0.3%
Avg return
Earnings day
+0.6%
Avg return
5 days after
+2.8%
Avg return
30 days after
54%
39 / 72 earnings
Positive
+7.7%
Q2 2023
Best reaction
-8.2%
Q3 2009
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +7.4% | +7.4% | +6.5% | |
| Q4 2025 | +0.4% | +1.8% | +15.0% | |
| Q3 2025 | -2.3% | -3.4% | +0.4% | |
| Q2 2025 | -0.7% | +0.3% | -3.7% | |
| Q1 2025 | -2.0% | -2.4% | +1.1% | |
| Q3 2024 | -4.6% | -3.9% | +0.4% | |
| Q2 2024 | +1.3% | +3.4% | +4.0% | |
| Q1 2024 | +4.7% | +2.2% | +0.0% | |
| Q4 2023 | -0.8% | +1.8% | +6.0% | |
| Q3 2023 | +2.6% | -0.2% | +6.5% | |
| Q2 2023 | +7.7% | +7.6% | +4.0% | |
| Q1 2023 | -1.6% | -3.6% | -1.5% | |
| Q4 2022 | -4.8% | -3.7% | -8.0% | |
| Q3 2022 | -4.8% | -2.7% | +5.3% | |
| Q2 2022 | -0.5% | +0.7% | +11.2% | |
| Q1 2022 | -5.2% | -5.5% | -13.6% | |
| Q4 2021 | +2.9% | +1.9% | +4.9% | |
| Q3 2021 | +4.2% | +5.6% | +5.8% | |
| Q2 2021 | +1.4% | +0.4% | +3.0% | |
| Q1 2021 | +0.0% | +1.0% | -0.9% | |
| Q4 2020 | -5.1% | +1.8% | -4.0% | |
| Q3 2020 | -5.7% | -10.0% | +2.0% | |
| Q2 2020 | -1.8% | -2.8% | +6.8% | |
| Q1 2020 | +6.1% | +9.7% | +12.3% | |
| Q4 2019 | +2.6% | -0.7% | +0.4% | |
| Q3 2019 | -1.1% | +4.6% | +7.9% | |
| Q2 2019 | +6.5% | +5.3% | +1.0% | |
| Q1 2019 | +5.0% | +4.4% | +3.2% | |
| Q4 2018 | +4.3% | +3.8% | +10.2% | |
| Q3 2018 | +1.6% | +4.2% | +2.2% | |
| Q2 2018 | +0.1% | +0.8% | +5.8% | |
| Q1 2018 | -0.6% | -2.4% | +6.6% | |
| Q4 2017 | -4.9% | -4.1% | -4.4% | |
| Q3 2017 | +6.2% | +5.0% | +7.2% | |
| Q2 2017 | -2.8% | -2.7% | -3.7% | |
| Q1 2017 | +1.6% | +0.8% | +0.4% | |
| Q4 2016 | +4.7% | +4.8% | +5.8% | |
| Q3 2016 | -7.0% | -7.3% | +2.8% | |
| Q2 2016 | -1.3% | -1.2% | +1.7% | |
| Q1 2016 | +6.9% | — | — | |
| Q4 2015 | -4.9% | — | — | |
| Q3 2015 | +3.8% | — | — | |
| Q2 2015 | -5.2% | — | — | |
| Q1 2015 | -2.9% | — | — | |
| Q4 2014 | +5.0% | — | — | |
| Q3 2014 | +7.2% | — | — | |
| Q2 2014 | -0.8% | — | — | |
| Q1 2014 | +1.8% | — | — | |
| Q4 2013 | +1.9% | — | — | |
| Q3 2013 | -3.2% | — | — | |
| Q2 2013 | +2.3% | — | — | |
| Q1 2013 | +6.5% | — | — | |
| Q4 2012 | -0.4% | — | — | |
| Q3 2012 | +0.0% | — | — | |
| Q2 2012 | +0.8% | — | — | |
| Q1 2012 | -2.2% | — | — | |
| Q4 2011 | +0.3% | — | — | |
| Q3 2011 | +3.0% | — | — | |
| Q2 2011 | +0.4% | — | — | |
| Q1 2011 | +0.4% | — | — | |
| Q4 2010 | +1.1% | — | — | |
| Q3 2010 | +2.3% | — | — | |
| Q2 2010 | +4.2% | — | — | |
| Q1 2009 | +1.1% | — | — | |
| Q1 2010 | +0.0% | — | — | |
| Q4 2009 | +0.0% | — | — | |
| Q4 2007 | +0.0% | — | — | |
| Q3 2008 | -8.2% | — | — | |
| Q3 2009 | -8.2% | — | — | |
| Q2 2009 | -2.2% | — | — | |
| Q4 2008 | -2.2% | — | — | |
| Q2 2008 | -2.2% | — | — |
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