AI-extracted from the 10-Q filed 2026-10-22 — Q3 FY2026 (quarter ended September 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Union Pacific posted $7.2B in Q3 revenue, +15% YoY, with freight revenues up 15% driven by 6% carload growth, core pricing gains, and record fuel surcharges despite headwinds from higher fuel costs.
Biggest Revenue Drivers
Freight revenues$6,813M+15% YoY
6% carload growth, core pricing gains, higher fuel surcharge revenues offset by unfavorable business mix from increased lower-ARC intermodal shipments
Other revenues$384M+21% YoY
Accessorial revenues +27%, other subsidiary revenues +17% from higher intermodal and subsidiary logistics demand
Biggest Revenue Drivers
Total revenue: $7.197B+15% YoY
Freight revenues$6,813M+15% YoY
6% carload growth, core pricing gains, higher fuel surcharge revenues offset by unfavorable business mix from increased lower-ARC intermodal shipments
6% volume growth from increased domestic steel, construction, plastics demand; core pricing gains and higher fuel surcharges
Bulk$2,116M+10% YoY
Higher fuel surcharge revenues and core pricing gains on flat volume; lower coal offset by export grain strength
Other revenues$384M+21% YoY
Accessorial revenues +27%, other subsidiary revenues +17% from higher intermodal and subsidiary logistics demand
Largest Expense Items
Fuel$1,040M+69% YoY
Locomotive diesel fuel prices averaged $4.21/gallon vs. $2.56/gallon; increased gross ton-miles partially offset by 2% fuel consumption rate improvement
Compensation and benefits$1,264M+4% YoY
Wage inflation, higher incentive compensation, training costs partially offset by lower employee levels
Purchased services and materials$746M+9% YoY
Higher subsidiary and intermodal volume-related costs, inflation; lower acquisition-related costs offset higher active fleet maintenance
Depreciation$643M+4% YoY
Higher depreciable asset base from capital investments
Margins: Operating ratio improved 0.1 points to 59.1% as top-line growth from volume and core pricing gains plus productivity offset higher fuel costs and inflation. Operating income increased 15% to $2.9B despite record fuel prices.
Watch Items from the Filing
Pending Norfolk Southern acquisition: $20B cash consideration expected, ~225M shares to be issued; Surface Transportation Board accepted revised application August 2026, holding proceedings in abeyance; expected completion H2 2027; share repurchases paused.
Locomotive fuel prices surged 64% YoY to $4.21/gallon in Q3 2026, creating significant margin headwind; fuel expense up 69% despite 2% improvement in fuel consumption rate.
Personal injury liability estimated range $409M–$457M (FELA); environmental liability recorded at $274M covering 346 identified sites including 30 Superfund sites; biometric privacy class action certified for litigation.
Mexico business revenues $820M (+9% YoY) on 4% volume growth; represents 11.4% of Q3 freight revenue, showing geographic concentration in cross-border trade.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Officers, directors and 10% owners with a Form 4 filed in the last 24 months, most recent first. From SEC EDGAR.
Powers Carrie JVP & CONTROLLERGrant or award · Oct 10, 2026
Rocker Kenyatta GEVP MARKETING & SALESGrant or award · Oct 10, 2026
Conlin Christina BEVP CHIEF LEGAL OFFICER & CORPGrant or award · Oct 10, 2026
Edison Sheri H.DirectorGrant or award · Oct 1, 2026
Finley TeresaDirectorGrant or award · Oct 1, 2026
Hopkins Deborah CDirectorGrant or award · Oct 1, 2026
Lute Jane HDirectorGrant or award · Oct 1, 2026
Mccarthy Michael RDirectorGrant or award · Oct 1, 2026
Simons DoyleDirectorGrant or award · Oct 1, 2026
Tien John K JrDirectorGrant or award · Oct 1, 2026
Congress trading in UNP
51 transactions in UNP reported by 29 members of Congress under the STOCK Act, most recent trade Feb 19, 2026. Reported transactions, not recommendations.
About UNION PACIFIC CORP (UNP): stock profile, AI score and financials
UNION PACIFIC CORP (UNP) stock profile, AI quality score, and SEC EDGAR financial data, a Industrials sector company. 13F Pro's AI-powered ranking engine scores UNP at 70.6/100 on a composite quality score built from its SEC filings, placing it at rank #201 of 2,925 stocks — the top 10% of the AI-ranked universe. UNP scores in the top quartile across revenue scale (94.2), profitability (87.4), balance sheet strength (86.9). Areas of concern include revenue growth (39.8), which score below median versus the broader universe. Based on the latest XBRL financial filings (Q3 2026), UNION PACIFIC CORP reports quarterly revenue of $7.2B, net income of $2.1B, an operating margin of 40.9%. Top institutional holders of UNP by reported 13-F value include BlackRock, VANGUARD CAPITAL MANAGEMENT, STATE STREET, based on the most recent SEC filings. UNP trades on the NYSE exchange and files with the SEC under CIK 100885. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate UNP daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for UNION PACIFIC CORP directly from SEC EDGAR.