Union Pacific Corp

Company facts

Industry

Railroads, Line-Haul Operating

Headquarters

Omaha, Nebraska

Most recent report

10-Q, filed Jul 23, 2026

Incorporated

Utah

Filings on record

1,000+ filings

On EDGAR

CIK 100885

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Jun 2026 10-Q

SECSift found 2 of 13 sections worth reading, with 3 positive, 6 notable, and 1 negative flags.

• Financial Statements (Item 1)

  Core financials and notes with acquisition details, debt renewal, and paused buybacks.
  Notable

  • Replaced $2.0B credit facility, extending maturity from 2027 to 2031; cross-default trigger doubled to $300M.
  • STB accepted revised merger application on May 28, 2026, but held proceedings in abeyance.

• Management's Discussion (Item 2)

  Full operating results, liquidity, and NS acquisition context.
  Positive

  • Q2 2026 EPS up to $3.36 from $3.15, net income $2.0B vs $1.9B.
  • Freight revenues up 12% in Q2 2026 to $6,518M driven by fuel surcharge, 2% volume, pricing.
  • Operating cash flow up 21% to $5.5B in first six months 2026; free cash flow $1.8B vs $1.1B.
  Notable

  • Intermodal SPI declined 4 points to 95% in Q2 2026; manifest SPI down 2 points.
  • Operating ratio worsened 0.7 points to 59.7% in Q2 2026 due to fuel costs.
  • Average diesel fuel price $3.86/gal in Q2 2026, up 60% from $2.42/gal in Q2 2025.
  • Share repurchases paused due to pending Norfolk Southern acquisition.
  Negative

  • International intermodal carloads down 14%, coal carloads down 17% in Q2 2026.

What changed: Jun 2026 vs. Mar 2026

About 6% of UNP's Jun 2026 10-Q is new information. 15 paragraphs were added, 109 changed, and 16 removed. Below are the most important lines SECSift identified.

• Item 2 52
• Item 1 46