Union Pacific Q3 2026 Earnings: Revenue Up 15% With a Clean Beat
As seen on the 24/7 Wall St. homepage on October 22, 2026.
A 15% revenue jump is rare for a mature rail network, and Union Pacific beat on every line with an adjusted operating ratio of 58.8%. FY26 guidance is the next swing factor as the Norfolk Southern merger moves through the STB.
UNION PACIFIC $UNP Q3’26 EARNINGS HIGHLIGHTS 🔹 Revenue: $7.20B (Est. $7.11B) 🟢; +15% YoY 🔹 Adj. EPS: $3.53 (Est. $3.47) 🟢; +15% YoY 🔹 Adj. Oper Income: $2.97B (Est. $2.92B) 🟢 🔹 Adj. Net Income: $2.10B (Est. $2.06B) 🟢 🔹 Adj. Operating Ratio: 58.8% FY26 Guide: 🔹 https://t.co/bNSyQq0QYW
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Union Pacific posted third-quarter 2026 revenue of $7.20 billion, beating expectations on a 15% year-over-year gain that is unusually large for a railroad of this scale and maturity.
Every major line came in above consensus, with adjusted EPS of $3.53 topping expectations and rising 15% year over year.
The adjusted operating ratio of 58.8% shows volume gains are flowing through to the bottom line, and for a railroad, lower is better.
Full-year 2026 guidance is the next thing investors will weigh closely, with commentary flagging the Norfolk Southern merger review at the Surface Transportation Board as a swing factor for the competitive landscape.
Mentioned: UNP