| Imagery Source: Flickr |
| Information Source: Union Pacific Corporation |
- Diluted earnings per share (EPS) of $3.15 and adjusted diluted EPS* of $3.03
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- Operating ratio (OR) of 59.0% and adjusted OR* of 58.1%
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| Union Pacific Corporation (NYSE: UNP) today reported 2025 second quarter net income of $1.9 billion, or $3.15 per diluted share. Results compare to 2024 second quarter net income of $1.7 billion, or $2.74 per diluted share. |
| Second quarter 2025 results include a deferred tax benefit of $115 million, or $0.19 per diluted share, partially offset by a crew staffing agreement of $55 million, or $0.07 per diluted share. 2025 second quarter adjusted net income* of $1.8 billion, or $3.03 per diluted share*, compares to 2024 second quarter adjusted net income* of $1.7 billion, or $2.71 per diluted share*. |
| “We are delivering on our strategy and our second quarter results demonstrate our commitment to leading the industry as we set new standards for safety, service, and operational excellence,” said Jim Vena, Union Pacific Chief Executive Officer. "The foundation is built, we are growing with our customers, and we have strong momentum as we continue to maximise the value of our great franchise.” |
| Second Quarter Summary: 2025 vs. 2024 |
| Financial Results: Operational Fluidity and Service Supporting Revenue Growth; Second Quarter Records for Freight Revenue and Operating Income |
- Operating revenue of $6.2 billion grew 2% driven by higher volume and solid core pricing gains, partially offset by reduced fuel surcharge, business mix, and lower other revenue.
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- Freight revenue, excluding fuel surcharge, grew 6%.
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- Reported operating ratio was 59.0%, an improvement of 100 basis points. Adjusted operating ratio* was 58.1%, an improvement of 230 basis points.
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| Operating Results: Continued Improvement in Safety, Service, and Operational Excellence; Second Quarter Record for Locomotive Productivity and Best Ever Quarter for Workforce Productivity and Train Length |
- Reportable personal injury rate and reportable derailment rate both improved.
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- Freight car velocity was 221 daily miles per car, a 10% improvement.
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- Locomotive productivity was 141 gross ton-miles (GTMs) per horsepower day, a 5% improvement. The
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- average maximum train length was 9,689 feet, a 2% increase.
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- Workforce productivity improved 9% to 1,124 car miles per employee.
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| * Adjusted diluted earnings per share and adjusted operating ratio are considered non-GAAP financial measures. See the attached supplemental schedule of non-GAAP measures for a reconciliation to GAAP. |
| On Track With Investor Day Targets |
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- Well-positioned to meet customer demand; challenging second half international intermodal comparison.
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- Pricing dollars are accretive to the operating ratio
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- Earnings per share growth consistent with attaining the 3-year CAGR target of high-single to low-double digit
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- Industry-leading operating ratio and return on invested capital
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- No change to long-term capital allocation strategy
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- Capital plan of $3.4 billion
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- Share repurchases of $4.0 to $4.5 billion
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- Third quarter 2025 dividend increase of 3%
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| For the full document, click the link below |
| Union Pacific Corporation |
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