A 6.07% single-session move is rare for a $176 billion railroad, and it follows this morning's Q3 earnings beat. Keep an eye on whether the shrunken buyback pace can sustain the rally.
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A 5.4% jump to $294.40 is an outsized day for a $175 billion railroad, and it follows this morning's Q3 earnings beat. The question now is whether shareholders stay patient with a sharply reduced buyback.
Intermodal revenue jumped 27%, enough to beat on both lines and extend the EPS beat streak to five straight quarters. Higher fuel prices weighed on the operating ratio, yet management still affirmed high-single-digit EPS growth for 2026, with CFO Jennifer Hamann retiring in early 2027 and the Norfolk Southern review still pending.
Union Pacific's third quarter results demonstrate our ability to safely deliver the service we sold to our customers while efficiently handling six percent volume growth. We executed at a consistently high level, enabling record financial results and further reinforcing our position as the industry leader. We look forward to the upcoming steps of the Surface Transportation Board's merger review process and to delivering the benefits of America's first transcontinental railroad for our customers.
Record quarterly results give Vena a stronger hand heading into the Surface Transportation Board's review of the Norfolk Southern tie-up, the real swing factor for the $171 billion railroad. Volume growth is doing the heavy lifting while regulators set the timeline.
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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