---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-001638"
form_type: "8-K"
ticker: "UNP"
cik: "0000100885"
company_name: "UNION PACIFIC CORP"
filed_at: "2023-01-24T23:59:59+00:00"
generated_at: "2026-06-20T10:22:35.747103+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Union Pacific Q4 EPS $2.67 vs $2.66; revenue $6.2B (+8%). FY22 EPS $11.21 vs $9.95; revenue $24.9B (+14%).

## Summary
- Q4 EPS $2.67 (flat vs $2.66); revenue $6.2B +8%; operating income $2.4B -1%; operating ratio 61.0% worsened 360 bps.
- FY22 EPS $11.21 vs $9.95; revenue $24.9B +14%; operating income $9.9B +6%; operating ratio 60.1% worsened 290 bps.
- Service metrics declined: freight car velocity down 6% FY, locomotive productivity down 6% FY.
- Fuel consumption rate improved to record 1.078 gallons/thousand GTMs FY (-1%).
- 2023 guidance: carloads to exceed industrial production; operating ratio improvement; capital plan $3.6B; dividend target ~45% of earnings.

## SEC filing metadata
- accession: 0001437749-23-001638
- form_type: 8-K
- ticker: UNP
- cik: 0000100885
- company_name: UNION PACIFIC CORP
- filed_at: 2023-01-24T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/100885/000143774923001638/0001437749-23-001638-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/100885/000143774923001638/unp20221219b_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-001638
- JSON: https://secwatch.observer/filing/0001437749-23-001638.json
- Plain text: https://secwatch.observer/filing/0001437749-23-001638.txt

## Key facts
- Earnings Releases
  UNION PACIFIC CORP reported Full year ended December 31, 2022 results: net income $7.0 billion, EPS $11.21.
  - Period: Full year ended December 31, 2022
  - Net income: $7.0 billion
  - EPS: $11.21
  - Result: reported results
  source text: Reported net income for full year 2022 was $7.0 billion, or $11.21 per diluted share.
  evidence_url: https://www.sec.gov/Archives/edgar/data/100885/000143774923001638/0001437749-23-001638-index.htm
- Earnings Releases
  UNION PACIFIC CORP reported Fourth quarter ended December 31, 2022 results: net income $1.6 billion, EPS $2.67.
  - Period: Fourth quarter ended December 31, 2022
  - Net income: $1.6 billion
  - EPS: $2.67
  - Result: reported results
  source text: Union Pacific Corporation (NYSE: UNP) today reported 2022 fourth quarter net income of $1.6 billion, or $2.67 per diluted share.
  evidence_url: https://www.sec.gov/Archives/edgar/data/100885/000143774923001638/0001437749-23-001638-index.htm
- Earnings Releases
  UNION PACIFIC CORP updated its Fiscal year 2023 guidance (initiated).
  - Period: Fiscal year 2023
  - Guidance: initiated
  - Result: guidance update
  source text: 2023 Guidance ● Full year carloads to exceed Industrial Production ○ Current Industrial Production forecast: -0.5% ● Full year operating ratio improvement ● Pricing dollars in excess of inflation dollars ● Capital Allocation: ○ Capital spending less than 15% of revenue ■ Capital plan of $3.6 billion ○ Long term dividend payout target of ~45% of earnings ○ Excess cash to share repurchases
  evidence_url: https://www.sec.gov/Archives/edgar/data/100885/000143774923001638/0001437749-23-001638-index.htm

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