---
schema_version: "secwatch.filing_event.v1"
accession: "0000100885-26-000154"
form_type: "8-K"
ticker: "UNP"
cik: "0000100885"
company_name: "UNION PACIFIC CORP"
filed_at: "2026-04-23T23:59:59+00:00"
generated_at: "2026-05-15T04:22:06.748587+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Union Pacific Q1 adjusted EPS $2.93 vs $2.70 YoY; revenue up 3% to $6.2B

## Summary
- Reported net income $1.7B, diluted EPS $2.87; adjusted EPS $2.93 vs $2.70 in Q1 2025.
- Operating revenue $6.2B (+3%), freight revenue +4% on core pricing gains; carloads down 1%.
- Operating ratio improved to 60.5% (adj. 59.9%); best-ever Q1 for train length and workforce productivity.
- Reaffirms 2026 outlook: mid-single digit EPS growth, capital plan $3.3B, consistent annual dividend increases.
- Merger costs of $36M ($0.06 per share) related to transcontinental railroad regulatory process.

## SEC filing metadata
- accession: 0000100885-26-000154
- form_type: 8-K
- ticker: UNP
- cik: 0000100885
- company_name: UNION PACIFIC CORP
- filed_at: 2026-04-23T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/100885/000010088526000154/0000100885-26-000154-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/100885/000010088526000154/unp-20260423.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000100885-26-000154
- JSON: https://secwatch.observer/filing/0000100885-26-000154.json
- Plain text: https://secwatch.observer/filing/0000100885-26-000154.txt

## Key facts
- Earnings Releases
  UNION PACIFIC CORP reported first quarter 2026 results: revenue $6.2 billion, net income $1.7 billion, EPS $2.87 per diluted share. Guidance reaffirmed.
  - Period: first quarter 2026
  - Revenue: $6.2 billion
  - Net income: $1.7 billion
  - EPS: $2.87 per diluted share
  - Guidance: reaffirmed
  - Result: reported results
  source text: Financial Results: Record First Quarter Operating Revenue, Operating Income, Net Income, Freight Revenue, and Freight Revenue excluding Fuel Surcharge • Operating revenue of $6.2 billion grew 3% driven by core pricing gains, fuel surcharge revenue, and business mix partially offset by 1% fewer carloads and lower other revenue. • Freight revenue increased 4% and
  evidence_url: https://www.sec.gov/Archives/edgar/data/100885/000010088526000154/0000100885-26-000154-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.