Description
Union Pacific & Norfolk Southern — A Pivotal Rail Consolidation Test!
Union Pacific Corporation reported third quarter 2026 net income of $2.1 billion, reflecting a 16% increase compared to the same period in 2025. Diluted earnings per share rose accordingly to $3.49, up 16%, with adjusted diluted EPS at $3.53, marking a 15% improvement. Revenue growth was supported by a 15% increase in operating revenues to $7.2 billion, driven by a combination of higher fuel surcharges, 6% volume growth in revenue carloads, core pricing gains, and increased other revenue, partially offset by business mix effects. Freight revenue excluding fuel surcharges grew 6%. Operationally, Union Pacific maintained improvements in several efficiency metrics. Reportable personal injury rates declined, freight car velocity increased by 1%, average terminal dwell time improved by 2%, and fuel consumption per thousand gross ton-miles improved by 2%. Workforce productivity increased by 5%, with more car miles per employee.
