NYSE$UNP
Union Pacific Corp · Q3 2025 earnings
Q3 2025 earnings · · Before market open · Investor relations
Briefing
Union Pacific reported Q3 2025 operating revenues of $6.24B with net income of $1.79B and diluted EPS of $3.01.
Operating revenues increased to $6.24 billion with net income of $1.79 billion and diluted EPS of $3.01. Freight revenue per car and operational efficiency initiatives supported results despite volume mix shifts.
- Q3 operating revenues $6.24B.
- Net income $1.79B; diluted EPS $3.01.
- Freight revenues $5.93B for the quarter.
- Network productivity and pricing remain key margin levers.
Headline financials
Revenue & EPS history
Union Pacific · Revenue · Quarterly
$6.24B
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
The filing discusses Union Pacific's outlook, capital allocation, and key risks for upcoming periods, including guidance or operating priorities where disclosed.
Tailwinds
- Union Pacific cites execution and demand trends supporting the outlook.
- Liquidity and balance-sheet capacity support operations and returns.
Headwinds
- Macro, input costs, and FX may pressure margins quarter to quarter.
- Segment mix and one-time items can affect comparability.
- Fuel, labor, and volume trends can swing quarterly earnings.
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 Q3 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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