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Union Pacific (UNP - Free Report) came out with quarterly earnings of $3.53 per share, beating the Zacks Consensus Estimate of $3.47 per share. This compares to earnings of $3.08 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +1.73%. A quarter ago, it was expected that this railroad would post earnings of $3.2 per share when it actually produced earnings of $3.41, delivering a surprise of +6.56%.

Over the last four quarters, the company has surpassed consensus EPS estimates three times.

Union Pacific, which belongs to the Zacks Transportation - Rail industry, posted revenues of $7.2 billion for the quarter ended September 2026, surpassing the Zacks Consensus Estimate by 1.13%. This compares to year-ago revenues of $6.24 billion. The company has topped consensus revenue estimates three times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Union Pacific shares have added about 24.5% since the beginning of the year versus the S&P 500's gain of 13.3%.

What's Next for Union Pacific?While Union Pacific has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Union Pacific was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $3.32 on $6.92 billion in revenues for the coming quarter and $13.05 on $26.97 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Transportation - Rail is currently in the top 24% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Canadian Pacific Kansas City (CP - Free Report) , another stock in the same industry, has yet to report results for the quarter ended September 2026. The results are expected to be released on October 28.

This railroad is expected to post quarterly earnings of $0.95 per share in its upcoming report, which represents a year-over-year change of +18.8%. The consensus EPS estimate for the quarter has been revised 0.5% lower over the last 30 days to the current level.

Canadian Pacific Kansas City's revenues are expected to be $3.02 billion, up 13.6% from the year-ago quarter.

Union Pacific Chief Financial Officer Jennifer Hamann to Retire After 35 Years of Service
Union Pacific Railroad today announced Executive Vice President and Chief Financial Officer Jennifer Hamann will retire in early 2027, concluding a remarkable 35-year career that helped shape the railroad through decades of growth, transformation and industry leadership.

Hamann's career reflects the very best of Union Pacific: a deep commitment to service, a willingness to embrace new challenges and an unwavering focus on creating long-term value for customers, employees, communities and shareholders. She joined Union Pacific in 1992 as a member of the company's audit staff and steadily rose through the organization, serving in leadership roles across Finance, Human Resources, Marketing and Sales, Investor Relations and Corporate Audit before being named chief financial officer in January 2020.

Over the course of her career, Hamann became one of the railroad industry's most respected financial leaders, guiding Union Pacific through periods of significant change, including the COVID-19 pandemic and major operational transformation efforts. She played a key leadership role in strengthening the company's balance sheet, enhancing capital allocation strategies and maintaining Union Pacific's position as an industry leader in financial performance. Just as important was Hamann’s ability to build relationships, inspiring her team and establishing trust with investors. She became the first woman to serve as Union Pacific's chief financial officer and was recognized with a Women MAKE Award for her leadership and contributions to the manufacturing and transportation industries.

Hamann championed employee development and inclusion, serving as executive sponsor of LEAD, Union Pacific’s women's employee resource group, helping foster opportunities for future generations of railroaders. She was also a fierce advocate for fighting breast cancer, leading fundraising efforts at Union Pacific for Susan G. Komen’s Race for the Cure. Her leadership extended beyond Union Pacific through service on several corporate and industry boards, including TTX Company, Grupo Ferroviario Mexicano and Steel Dynamics.

“For 35 years, she led with integrity and heart, guiding our finances through historic challenges, executing our strategy, mentoring future leaders and representing Union Pacific across the industry,” said Jim Vena, Chief Executive Officer. “Jennifer was tough – she never said yes, unless she believed it was the right thing to do for Union Pacific. She made this railroad stronger, and her contributions will be felt for generations. I am deeply grateful for her leadership and friendship.”

Known for her collaborative and thoughtful leadership style, Hamann was respected for standing her ground when she believed in something. She pushed her team and developed leaders to be the best. She often credits the pride and dedication of Union Pacific employees as a driving force behind the railroad's success.

“It’s been my honor to serve and represent Union Pacific as its CFO,” said Hamann. “I am grateful for all who supported me along the way – my family, friends and the Union Pacific family I’ve worked alongside for nearly 35 years. Becoming the nation’s first transcontinental railroad is the exciting chapter ahead. I remain an ardent supporter of the merger and with Jim and team leading the way, I’m confident of our success.”

The company will announce succession plans at a later date.

ABOUT UNION PACIFIC

Union Pacific (NYSE: UNP) delivers the goods families and businesses use every day with safe, reliable and efficient service. Operating in 23 western states, the company connects its customers and communities to the global economy. Trains are the most environmentally responsible way to move freight, helping Union Pacific protect future generations. More information about Union Pacific is available at www.up.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20261016013664/en/

Disclosures
I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours.

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Union Pacific (UNP -0.23%) is on the precipice of a game-changing $85 billion merger with Norfolk Southern (NSC -0.04%). The deal would make Union Pacific the first transcontinental railroad in the U.S., with more than 52,000 miles of track.

The merger is not a slam dunk. It has to pass muster with the Surface Transportation Board, with a decision expected sometime next year. A coalition of labor, competitors, and farm groups opposes the merger. The concern is that the merger would create a de facto monopoly and eliminate competition. On the positive side, it could also lead to lower freight costs for shippers and reduced pollution by reducing the need for interstate trucking with single-line coast-to-coast rail service.

The stock is up more than 19% so far this year, and billionaires Chris Hohn, Ken Griffin, and Bill Gates are all among the major owners of Union Pacific through the investment firms they control. Griffin, who owns Citadel, is Union Pacific's leading shareholder, with 2,675,693 shares. Hohn, who owns TCI Fund Management, owns 4,032 shares of the railroad, and Gates, through Cascades, owns 3,435 shares of Union Pacific.

Like most railroads, Union Pacific isn't a high-profile growth stock, but it has a huge economic moat, and the merger would supercharge its potential while trimming transit times by 24 to 48 hours for more than 1 million intermodal loads annually and eliminating roughly 2.1 million truck trips per year, the company said.

Here are three reasons why the stock may make sense for retail investors, not just billionaires.

Image source: Getty Images.

1. Steady growth, solid balance sheet In the second quarter, Union Pacific reported record numbers, including operating revenue of $6.86 billion, up 12% over the same period a year ago; net income of $2 billion, up 6% year over year; and adjusted earnings per share (EPS) of $3.41, up 13% over the same period last year.

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The company raised guidance for reported EPS growth to the high single digits this year, consistent with its goals of single- to low-double-digit compound annual growth through 2027.

Because rail remains the most cost-effective way to move bulk commodities, grain, and industrial products over long distances, Union Pacific retains strong pricing power that consistently outpaces inflation.

2. An above-average dividend that is safe The industrial company raised its quarterly dividend by 2.8% this year, the 20th consecutive year it has increased it. The yield on that dividend is 2.01%, and the payout ratio is a safe 50.1%.

The dividend is well protected. Union Pacific reported six-month cash from operations of $5.5 billion, up 21%, year over year. The company has made its dividend even safer by trimming its debt-to-earnings before interest, taxes, depreciation, and amortization (EBITDA) ratio over the past three years.

3. The company already has a huge moat Its merger with Norfolk Southern would mean Union Pacific would operate in 43 states, across more than 52,000 miles of track and serving more than 100 ports. Despite the pushback against the deal, it is likely to be approved because of its benefits to U.S. supply lines, a weakness that emerged during the COVID-19 pandemic. It could also cut costs and improve delivery speeds for essential items, including food.

Even if the deal doesn't go through, Union Pacific is the nation's largest freight railroad, and there's no Class I competitor in sight because of the expense and complications involved in matching its 32,000 miles of track.

The company's network connects Gulf Coast ports to the West Coast and to six leading Mexican routes. That makes it a prime beneficiary of long-term nearshoring trends and North American freight traffic. The company's strong cash flow from operations gives it ample leverage to grow, including pursuing a multibillion-dollar merger.

Key Takeaways Union Pacific launched two FLXdrive battery-electric locomotives in Southern California for testing.Two more Union Pacific locomotives are due in October 2026, completing a four-unit Los Angeles fleet.Each FLXdrive stores nearly 2.7 MWh and uses almost 7,000 battery cells. In a bid to strengthen its position in the railroad industry, Union Pacific (UNP - Free Report) announced the launch of two battery-electric locomotives in Southern California. The move comes as part of Union Pacific’s ongoing investments in testing next-generation technologies in real-world operating environments.

The locomotives are the first of four FLXdrivebattery-electric units manufactured by Wabtec Corporation (WAB - Free Report) and ordered by Union Pacific. Two additional locomotives are slated to be delivered in October 2026, thereby completing the four-unit fleet which is expected to operate in the greater Los Angeles area. Each locomotive offers nearly 2.7 megawatt-hours (MWh) of energy storage and generates zero tailpipe emissions during operation.

Powered by almost 7,000 battery cells, the FLXdrive will undergo extensive testing in a variety of railroad operations, including switching and providing local customer service.

Union Pacific’s chief executive officer, Jim Vena, stated, "Union Pacific has never been content to stand still. Our industry is constantly evolving, and if we're not exploring what's next, we risk being left behind. Testing technologies like battery-electric locomotives help us to better understand what's possible by putting these emerging technologies to work in actual railroad operations.”

To ConcludeThe deployment of FLXdrive in daily operations is expected to provide Union Pacific with real-world insights and valuable real-world data on the technology’s performance, reliability and operational capabilities. This shall help UNP assess the battery-electric technology’s potential to improve efficiency and support longer-term fleet modernization.

Rail remains one of the most fuel-efficient modes of overland freight transportation, capable of moving one ton of freight nearly 500 miles on a single gallon of fuel. Union Pacific’s battery-electric locomotive evaluation supports its broader push to modernize operations, improve efficiency and potentially lower greenhouse gas emissions, reinforcing the railroad’s long-term cost and sustainability goals for freight transportation.

Zacks Rank and Stocks to ConsiderUnion Pacific carries a Zacks Rank #3 (Hold).

Investors interested in the Zacks Transportation sector may consider Seanergy Maritime Holdings (SHIP - Free Report) and Schneider National, Inc. (SNDR - Free Report) .

Seanergy Maritime Holdings currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

SHIP has an expected earnings growth rate of more than 100% for the current year. The company has an encouraging earnings surprise history. Its earnings topped the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average beat of 38%.

Schneider presently carries a Zacks Rank #2 (Buy).

Schneider has an expected earnings growth rate of 65.08% for the current year.  Schneider’s earnings outpaced the Zacks Consensus Estimate in two of the trailing four quarters (missed the mark in the remaining two quarters), delivering an average miss of 10.01%. The Zacks Consensus Estimate for Schneider’s full-year earnings has moved 14.29% north in the past 60 days.

Allworth Financial LP decreased its position in shares of Union Pacific Corporation (NYSE:UNP – Free Report) by 25.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,370 shares of the railroad operator’s stock after selling 17,231 shares during the period. Allworth Financial LP’s holdings in Union Pacific were worth $13,973,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. California State Teachers Retirement System boosted its stake in Union Pacific by 29,250.5% during the second quarter. California State Teachers Retirement System now owns 247,700,336 shares of the railroad operator’s stock valued at $67,374,491,000 after buying an additional 246,856,396 shares during the last quarter. State Street Corp increased its stake in Union Pacific by 4.3% in the 4th quarter. State Street Corp now owns 26,330,080 shares of the railroad operator’s stock worth $6,090,674,000 after acquiring an additional 1,082,285 shares during the last quarter. Capital World Investors raised its holdings in shares of Union Pacific by 92.1% during the 4th quarter. Capital World Investors now owns 20,136,349 shares of the railroad operator’s stock worth $4,658,142,000 after acquiring an additional 9,655,306 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Union Pacific by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 15,360,668 shares of the railroad operator’s stock worth $3,552,550,000 after acquiring an additional 296,814 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Union Pacific by 0.4% during the 2nd quarter. Bank of America Corp DE now owns 14,527,563 shares of the railroad operator’s stock valued at $3,951,497,000 after acquiring an additional 64,492 shares during the last quarter. 80.38% of the stock is owned by institutional investors.

Union Pacific Stock Performance NYSE:UNP opened at $288.68 on Wednesday. The stock’s fifty day moving average is $294.62 and its 200 day moving average is $271.35. Union Pacific Corporation has a fifty-two week low of $210.84 and a fifty-two week high of $315.99. The firm has a market capitalization of $171.50 billion, a PE ratio of 23.37, a PEG ratio of 2.88 and a beta of 0.96. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.82 and a current ratio of 0.99.

Union Pacific (NYSE:UNP – Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.26 by $0.15. Union Pacific had a return on equity of 38.46% and a net margin of 28.85%.The company had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.72 billion. During the same period last year, the company earned $3.03 earnings per share. Union Pacific’s revenue was up 11.5% on a year-over-year basis. On average, sell-side analysts anticipate that Union Pacific Corporation will post 13.02 earnings per share for the current year. Union Pacific Increases Dividend The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Monday, August 31st will be paid a dividend of $1.42 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.0%. This is a boost from Union Pacific’s previous quarterly dividend of $1.38. Union Pacific’s dividend payout ratio is presently 45.99%.

Analysts Set New Price Targets A number of research firms recently weighed in on UNP. Barclays reissued an “overweight” rating and issued a $350.00 target price (up from $315.00) on shares of Union Pacific in a report on Friday, July 24th. Benchmark increased their price objective on shares of Union Pacific from $325.00 to $335.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Citigroup lifted their price objective on shares of Union Pacific from $326.00 to $349.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. The Goldman Sachs Group set a $317.00 target price on shares of Union Pacific and gave the stock a “neutral” rating in a report on Thursday, July 23rd. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $335.00 price target (up from $315.00) on shares of Union Pacific in a report on Friday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $320.89.

Read Our Latest Research Report on Union Pacific

Union Pacific Profile (Free Report)

Union Pacific Corporation is a transportation company that operates Union Pacific Railroad, one of the largest freight railroad networks in the United States. The company provides rail transportation and logistics services for a broad range of commodities, including agricultural products, automotive goods, chemicals, coal, industrial products, and intermodal shipments.

Union Pacific’s railroad network serves the western two-thirds of the United States, connecting major markets and ports across approximately 23 states.

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BNP Paribas grew its position in Union Pacific Corporation (NYSE:UNP – Free Report) by 21.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 60,465 shares of the railroad operator’s stock after purchasing an additional 10,706 shares during the quarter. BNP Paribas’ holdings in Union Pacific were worth $16,454,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Cambient Family Office LLC purchased a new stake in Union Pacific in the fourth quarter valued at approximately $1,319,000. First National Bank of Omaha grew its holdings in shares of Union Pacific by 35.8% during the fourth quarter. First National Bank of Omaha now owns 54,635 shares of the railroad operator’s stock worth $12,665,000 after buying an additional 14,399 shares in the last quarter. North Dakota State Investment Board acquired a new position in shares of Union Pacific in the fourth quarter valued at approximately $4,746,000. Sage Investment Advisers LLC acquired a new position in shares of Union Pacific in the fourth quarter valued at approximately $997,000. Finally, Truist Financial Corp lifted its stake in shares of Union Pacific by 3.1% during the fourth quarter. Truist Financial Corp now owns 1,016,071 shares of the railroad operator’s stock valued at $235,038,000 after buying an additional 30,079 shares during the period. 80.38% of the stock is currently owned by institutional investors and hedge funds.

Union Pacific Trading Up 0.0% Shares of NYSE:UNP opened at $307.82 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.99 and a debt-to-equity ratio of 1.40. The company’s 50-day moving average price is $291.07 and its 200 day moving average price is $269.81. The company has a market cap of $182.87 billion, a PE ratio of 24.92, a P/E/G ratio of 3.12 and a beta of 0.96. Union Pacific Corporation has a fifty-two week low of $210.84 and a fifty-two week high of $315.99.

Union Pacific (NYSE:UNP – Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.41 EPS for the quarter, beating analysts’ consensus estimates of $3.26 by $0.15. The company had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.72 billion. Union Pacific had a return on equity of 38.46% and a net margin of 28.85%.The company’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period last year, the company earned $3.03 earnings per share. Sell-side analysts anticipate that Union Pacific Corporation will post 13.01 earnings per share for the current year. Union Pacific Increases Dividend The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Monday, August 31st will be given a $1.42 dividend. This is a positive change from Union Pacific’s previous quarterly dividend of $1.38. The ex-dividend date is Monday, August 31st. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.8%. Union Pacific’s dividend payout ratio is 44.70%.

Analysts Set New Price Targets Several research analysts recently weighed in on the company. Weiss Ratings raised Union Pacific from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 24th. UBS Group reaffirmed a “neutral” rating and set a $310.00 price target (up from $286.00) on shares of Union Pacific in a research report on Friday, July 24th. Citizens Jmp started coverage on Union Pacific in a report on Wednesday, July 15th. They set an “outperform” rating and a $350.00 target price on the stock. The Goldman Sachs Group set a $317.00 price target on Union Pacific and gave the stock a “neutral” rating in a research note on Thursday, July 23rd. Finally, Robert W. Baird raised their price objective on Union Pacific from $311.00 to $344.00 and gave the company an “outperform” rating in a research note on Monday, July 27th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Union Pacific currently has an average rating of “Moderate Buy” and a consensus target price of $320.89.

Read Our Latest Analysis on UNP

Insiders Place Their Bets In other news, EVP Eric J. Gehringer sold 2,991 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $263.96, for a total transaction of $789,504.36. Following the sale, the executive vice president owned 43,012 shares in the company, valued at $11,353,447.52. The trade was a 6.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.22% of the company’s stock.

Union Pacific News Roundup Here are the key news stories impacting Union Pacific this week:

Positive Sentiment: New analyst coverage adds support: Erste Group Bank AG initiated coverage of Union Pacific with a “buy” rating, signaling confidence in the railroad’s valuation and outlook. Erste Group Bank coverage Positive Sentiment: Dividend and earnings backdrop remains favorable: Union Pacific is being highlighted as a dividend-growth railroad, and recent quarterly results showed earnings and revenue above analyst expectations, with revenue up year over year. These factors reinforce the company’s appeal to income and quality-focused investors. Dividend-paying railroad stocks Neutral Sentiment: Merger application advances: Union Pacific and Norfolk Southern submitted expanded customer protections to the Surface Transportation Board, including broader eligibility for committed gateway pricing. The proposed terms could improve the prospects for approval of the first single-line transcontinental railroad network, although the transaction remains subject to a lengthy regulatory review. Union Pacific and Norfolk Southern merger protections Neutral Sentiment: Management will address investors: CEO Jim Vena and CFO Jennifer Hamann are scheduled to participate in a Bernstein Research fireside chat on September 1. Investors may look for updates on merger strategy, rail efficiency and operating trends. Union Pacific Bernstein fireside chat Negative Sentiment: Regulatory and efficiency risks remain: The companies continue defending the merger against opponents’ challenges, while new analysis describes Union Pacific as facing a fresh test of rail efficiency. Any tougher STB scrutiny or evidence of operational weaknesses could temper merger-driven optimism. Merger application regulatory review Union Pacific Company Profile (Free Report)

Union Pacific Corporation (NYSE: UNP) is one of the largest freight railroad companies in the United States. Its principal operating subsidiary, Union Pacific Railroad, has roots that trace back to the Pacific Railway Act of 1862 and the construction of the first transcontinental rail link completed in 1869. The company is headquartered in Omaha, Nebraska, and operates as a holding company for rail transportation and related services.

Union Pacific’s core business is the movement of freight by rail across an extensive rail network serving the western two‑thirds of the United States.

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Blue Capital Inc. bought a new position in shares of Union Pacific Corporation (NYSE:UNP – Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,470 shares of the railroad operator’s stock, valued at approximately $672,000.

Other large investors also recently modified their holdings of the company. Rachor Investment Advisory Services LLC bought a new position in Union Pacific during the 4th quarter worth $25,000. Tucker Asset Management LLC bought a new stake in Union Pacific in the fourth quarter valued at $25,000. SWAN Capital LLC lifted its stake in Union Pacific by 2,575.0% in the fourth quarter. SWAN Capital LLC now owns 107 shares of the railroad operator’s stock valued at $25,000 after buying an additional 103 shares during the last quarter. High Point Wealth Management LLC acquired a new position in shares of Union Pacific during the fourth quarter valued at $26,000. Finally, Cornerstone Financial Management LLC bought a new position in shares of Union Pacific during the fourth quarter worth about $27,000. 80.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets A number of research firms recently weighed in on UNP. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Union Pacific in a report on Monday, July 13th. BMO Capital Markets restated a “market perform” rating and issued a $320.00 price target (up from $285.00) on shares of Union Pacific in a research note on Friday, July 24th. Susquehanna lifted their price target on Union Pacific from $305.00 to $333.00 and gave the company a “positive” rating in a report on Tuesday, July 14th. Wells Fargo & Company reiterated an “overweight” rating and set a $335.00 price objective (up from $315.00) on shares of Union Pacific in a research report on Friday, July 24th. Finally, The Goldman Sachs Group set a $317.00 price objective on Union Pacific and gave the stock a “neutral” rating in a report on Thursday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Union Pacific presently has an average rating of “Moderate Buy” and an average target price of $320.89.

Check Out Our Latest Report on Union Pacific Insider Buying and Selling at Union Pacific In other news, EVP Eric J. Gehringer sold 2,991 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $263.96, for a total value of $789,504.36. Following the completion of the sale, the executive vice president directly owned 43,012 shares of the company’s stock, valued at $11,353,447.52. This represents a 6.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.22% of the stock is owned by corporate insiders.

Union Pacific Trading Up 1.3% NYSE UNP opened at $307.97 on Friday. Union Pacific Corporation has a twelve month low of $210.84 and a twelve month high of $315.99. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.82 and a current ratio of 0.99. The stock has a market cap of $182.96 billion, a price-to-earnings ratio of 24.94, a PEG ratio of 3.10 and a beta of 0.96. The firm’s 50 day moving average price is $286.30 and its two-hundred day moving average price is $267.60.

Union Pacific (NYSE:UNP – Get Free Report) last released its earnings results on Thursday, July 23rd. The railroad operator reported $3.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.15. The company had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.72 billion. Union Pacific had a return on equity of 38.46% and a net margin of 28.85%.The company’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.03 earnings per share. Equities analysts anticipate that Union Pacific Corporation will post 12.93 EPS for the current year.

Union Pacific Increases Dividend The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Monday, August 31st will be issued a $1.42 dividend. The ex-dividend date is Monday, August 31st. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.8%. This is a positive change from Union Pacific’s previous quarterly dividend of $1.38. Union Pacific’s dividend payout ratio is currently 44.70%.

Union Pacific Company Profile (Free Report)

Union Pacific Corporation (NYSE: UNP) is one of the largest freight railroad companies in the United States. Its principal operating subsidiary, Union Pacific Railroad, has roots that trace back to the Pacific Railway Act of 1862 and the construction of the first transcontinental rail link completed in 1869. The company is headquartered in Omaha, Nebraska, and operates as a holding company for rail transportation and related services.

Union Pacific’s core business is the movement of freight by rail across an extensive rail network serving the western two‑thirds of the United States.

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U.S. railroad Union Pacific (UNP.N) collected $91.1 million more in fuel ​surcharges than it paid for fuel during the second quarter, far outpacing rivals, according to a company filing with the Surface ‌Transportation Board and first reported by Reuters.

Those excess surcharges boosted Union Pacific's profit, underlining criticism from some shippers that surcharges meant to recoup rising petroleum costs due to the U.S. and Israeli war on Iran are sometimes excessive.

Railroads are the only U.S. transportation companies that report both fuel costs and fuel surcharge revenue to regulators, offering rare insight into how ​surcharges can improve company profits.

Union Pacific said its year-over-year percentage fuel surcharge increase is in line with the industry. STB filings showed ​that only Norfolk Southern (NSC.N) and CSX (CSX.O) also had surpluses, of $3.6 million and $8.4 million, respectively, during the second quarter.

"Ultimately, fuel ⁠surcharges are a component of the overall cost we negotiate with customers and something they take into consideration when choosing Union Pacific and the ​service we provide," Union Pacific said in a statement.

Last month, Union Pacific said fuel surcharges added earnings of 14 cents per share in the second quarter. ​Based on shares outstanding, that works out to $83.2 million in profit.

MERGER WITH NORFOLK SOUTHERN
Union Pacific is seeking regulatory approval for an $85 billion acquisition of Norfolk Southern to create the first railroad operator spanning the continental United States.

The Stop the Rail Merger Coalition, which includes six state attorneys general, rival railroads, labor unions and agricultural and chemical industry ​groups, says creating a railroad with 50% market share of domestic rail freight would reduce competition and boost shipping costs that consumers ultimately pay.

The coalition ​did not immediately respond to a request for comment about the surcharges.

Berkshire Hathaway-owned BNSF (BRKa.N) said in an STB filing this month that only Union Pacific and Norfolk Southern ‌would benefit ⁠from the merger, noting that the resulting company "will have every incentive and opportunity to apply UP’s longstanding high-price strategies on a national scale." BNSF declined to comment.

The U.S. transportation industry applies fuel surcharges using benchmarks such as the Department of Energy's On-Highway Diesel Fuel price and a proprietary formula, known as a "trade factor." Surcharges have withstood legal challenges and regulatory scrutiny over decades.

“Rail fuel surcharges overall are up 43 cents a mile since March and now ​sit above the previous record from ​September 2008. That's not a typo,” ⁠said Kyle Henzel, president and chief operating officer at shipping platform Ship.com.

There is generally a lag of up to two months between fuel price moves and railroad surcharges. This year's March fuel surcharge, for example, was based on ​the January diesel price, before the Iran war started.

In the first quarter, as a result, Union Pacific collected $607.6 ​million in fuel ⁠surcharges, $34.8 million less than it paid for fuel, its STB filing showed.

But in the combined first and second quarters, Union Pacific's surcharge revenue was $56.4 million more than its fuel costs.

Union Pacific was the only major railroad to report fuel surcharges that exceeded fuel costs for the first half of 2026.

The biggest gap was ⁠between Union ​Pacific and BNSF, which compete for dominance in the western United States. BNSF's surcharges were $658.1 ​million less than its fuel costs during the first six months of this year, according to STB filings.

Last year, Union Pacific's total fuel surcharge revenue was $2.3 billion, $48 million less than what ​it paid for fuel, the company's STB filings showed.

Posted by Defense World Staff on Jul 25th, 2026

Bollard Group LLC boosted its stake in shares of Union Pacific Corporation (NYSE:UNP – Free Report) by 12.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 26,079 shares of the railroad operator’s stock after purchasing an additional 2,927 shares during the period. Bollard Group LLC’s holdings in Union Pacific were worth $6,327,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Tucker Asset Management LLC acquired a new stake in shares of Union Pacific during the fourth quarter worth $25,000. SWAN Capital LLC raised its stake in Union Pacific by 2,575.0% in the 4th quarter. SWAN Capital LLC now owns 107 shares of the railroad operator’s stock worth $25,000 after acquiring an additional 103 shares during the last quarter. Rachor Investment Advisory Services LLC acquired a new stake in Union Pacific during the 4th quarter worth about $25,000. High Point Wealth Management LLC acquired a new stake in Union Pacific during the 4th quarter worth about $26,000. Finally, Scarborough Advisors LLC purchased a new stake in Union Pacific during the 1st quarter valued at about $27,000. Institutional investors and hedge funds own 80.38% of the company’s stock.

Analyst Ratings Changes Several brokerages have recently issued reports on UNP. Citizens Jmp began coverage on Union Pacific in a research note on Wednesday, July 15th. They issued an “outperform” rating and a $350.00 price objective for the company. Wells Fargo & Company reiterated an “overweight” rating and issued a $335.00 target price (up from $315.00) on shares of Union Pacific in a research report on Friday. The Goldman Sachs Group set a $317.00 price target on shares of Union Pacific and gave the stock a “neutral” rating in a research report on Thursday. JPMorgan Chase & Co. lifted their price objective on shares of Union Pacific from $304.00 to $334.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Raymond James Financial reaffirmed a “strong-buy” rating on shares of Union Pacific in a report on Monday, July 13th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $319.16.

Check Out Our Latest Report on Union Pacific

Insiders Place Their Bets In other Union Pacific news, EVP Eric J. Gehringer sold 2,991 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $263.96, for a total transaction of $789,504.36. Following the transaction, the executive vice president owned 43,012 shares of the company’s stock, valued at approximately $11,353,447.52. This trade represents a 6.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.22% of the stock is currently owned by company insiders.

Key Headlines Impacting Union Pacific Here are the key news stories impacting Union Pacific this week:

Positive Sentiment: Union Pacific reported better-than-expected Q2 results, with adjusted EPS of $3.41 and revenue of $6.86 billion, both ahead of Wall Street estimates, reinforcing confidence in operating momentum and pricing power. Positive Sentiment: Analysts turned more constructive after the earnings beat, with Citigroup, JPMorgan, Benchmark, and Bank of America all raising price targets, suggesting expectations for further upside in the stock. Positive Sentiment: Union Pacific and Canadian National reached a binding access agreement tied to the proposed Norfolk Southern merger, easing competition concerns and improving the odds of regulatory approval while also giving UNP better Chicago routing efficiency and expanded corridor access. Article Title Neutral Sentiment: The broader news flow also highlighted that the merger and access agreement may reshape North American rail traffic patterns, but the deal still depends on Surface Transportation Board approval and final closing. Neutral Sentiment: Several articles noted Union Pacific’s record freight revenue and improved efficiency, which supports the bullish case but is already partly reflected in the recent rally. Union Pacific Stock Performance NYSE:UNP opened at $307.54 on Friday. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.99 and a quick ratio of 0.73. The firm has a market capitalization of $182.59 billion, a price-to-earnings ratio of 24.90, a PEG ratio of 3.18 and a beta of 0.96. The company’s 50-day moving average is $275.12 and its two-hundred day moving average is $258.32. Union Pacific Corporation has a 1-year low of $210.84 and a 1-year high of $315.99.

Union Pacific (NYSE:UNP – Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The railroad operator reported $3.41 earnings per share for the quarter, topping analysts’ consensus estimates of $3.26 by $0.15. The firm had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.72 billion. Union Pacific had a net margin of 28.85% and a return on equity of 38.46%. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the company posted $3.03 EPS. Analysts forecast that Union Pacific Corporation will post 12.64 EPS for the current year.

Union Pacific Dividend Announcement The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, May 29th were given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, May 29th. Union Pacific’s dividend payout ratio (DPR) is 45.47%.

Union Pacific Company Profile (Free Report)

Union Pacific Corporation (NYSE: UNP) is one of the largest freight railroad companies in the United States. Its principal operating subsidiary, Union Pacific Railroad, has roots that trace back to the Pacific Railway Act of 1862 and the construction of the first transcontinental rail link completed in 1869. The company is headquartered in Omaha, Nebraska, and operates as a holding company for rail transportation and related services.

Union Pacific’s core business is the movement of freight by rail across an extensive rail network serving the western two‑thirds of the United States.

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Union Pacific (UNP - Free Report) came out with quarterly earnings of $3.41 per share, beating the Zacks Consensus Estimate of $3.2 per share. This compares to earnings of $3.03 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +6.56%. A quarter ago, it was expected that this railroad would post earnings of $2.85 per share when it actually produced earnings of $2.93, delivering a surprise of +2.81%.

Over the last four quarters, the company has surpassed consensus EPS estimates three times.

Union Pacific, which belongs to the Zacks Transportation - Rail industry, posted revenues of $6.86 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 3.18%. This compares to year-ago revenues of $6.15 billion. The company has topped consensus revenue estimates three times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Union Pacific shares have added about 26.5% since the beginning of the year versus the S&P 500's gain of 9.6%.

What's Next for Union Pacific?While Union Pacific has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Union Pacific was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $3.32 on $6.73 billion in revenues for the coming quarter and $12.62 on $26.04 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Transportation - Rail is currently in the bottom 24% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Canadian National (CNI - Free Report) , another stock in the same industry, has yet to report results for the quarter ended June 2026. The results are expected to be released on July 24.

This railroad is expected to post quarterly earnings of $1.39 per share in its upcoming report, which represents a year-over-year change of +3%. The consensus EPS estimate for the quarter has been revised 1.7% lower over the last 30 days to the current level.

Canadian National's revenues are expected to be $3.26 billion, up 5.5% from the year-ago quarter.

Earnings are arguably the most important single number on a company's quarterly financial report. Wall Street clearly dives into all of the other metrics and management's input, but the EPS figure helps cut through all the noise.

The earnings figure itself is key, of course, but a beat or miss on the bottom line can sometimes be just as, if not more, important. Therefore, investors should consider paying close attention to these earnings surprises, as a big beat can help a stock climb and vice versa.

Now that we know how important earnings and earnings surprises are, it's time to show investors how to take advantage of these events to boost their returns by utilizing the Zacks Earnings ESP filter.

The Zacks Earnings ESP, ExplainedThe Zacks Earnings ESP, or Expected Surprise Prediction, aims to find earnings surprises by focusing on the most recent analyst revisions. The basic premise is that if an analyst reevaluates their earnings estimate ahead of an earnings release, it means they likely have new information that could possibly be more accurate.

The core of the ESP model is comparing the Most Accurate Estimate to the Zacks Consensus Estimate, where the resulting percentage difference between the two equals the Expected Surprise Prediction. The Zacks Rank is also factored into the ESP metric to better help find companies that appear poised to top their next bottom-line consensus estimate, which will hopefully help lift the stock price.

When we join a positive earnings ESP with a Zacks Rank #3 (Hold) or stronger, stocks posted a positive bottom-line surprise 70% of the time. Plus, this system saw investors produce roughly 28% annual returns on average, according to our 10 year backtest.

Stocks with a #3 (Hold) ranking, which is most stocks covered at 60%, are expected to perform in-line with the broader market. But stocks that fall into the #2 (Buy) and #1 (Strong Buy) ranking, or the top 15% and top 5% of stocks, respectively, should outperform the market. Strong Buy stocks should outperform more than any other rank.

Should You Consider Union Pacific?The last thing we will do today, now that we have a grasp on the ESP and how powerful of a tool it can be, is to quickly look at a qualifying stock. Union Pacific (UNP - Free Report) holds a #3 (Hold) at the moment and its Most Accurate Estimate comes in at $3.15 a share 30 days away from its upcoming earnings release on July 23, 2026.

By taking the percentage difference between the $3.15 Most Accurate Estimate and the $3.14 Zacks Consensus Estimate, Union Pacific has an Earnings ESP of +0.29%. Investors should also know that UNP is one of a large group of stocks with positive ESPs. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Find Stocks to Buy or Sell Before They're ReportedUse the Zacks Earnings ESP Filter to turn up stocks with the highest probability of positively, or negatively, surprising to buy or sell before they're reported for profitable earnings season trading. Check it out here >>