Union Pacific Q3 adjusted EPS $3.08, revenue $6.2B; OR improves 180 bps

UNION PACIFIC CORP

2025-Q3 EPS reported $8.87 revenue$18,425,000,000

Adjusted diluted EPS of $3.08, up from $2.75 in prior year; reported EPS $3.01.
Operating revenue of $6.2B, up 3% YoY; freight revenue ex-fuel surcharge up 4%.
Adjusted operating ratio 58.5%, an improvement of 180 bps; reported OR 59.2%.
Merger costs of $41M included; CEO highlights Norfolk Southern opportunity.
Operational records: freight car velocity +8%, terminal dwell -9%, workforce productivity +6%.

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