---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-25-002292"
form_type: "8-K"
ticker: "UNP"
cik: "0000100885"
company_name: "UNION PACIFIC CORP"
filed_at: "2025-01-23T23:59:59+00:00"
generated_at: "2026-05-27T12:50:46.518121+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Union Pacific Q4 EPS $2.91 (+7% YoY); FY EPS $11.09 (+6%); operating ratio improves

## Summary
- Q4 operating revenue $6.1B (-1% YoY) on volume +5% and core pricing, offset by lower fuel surcharge.
- Q4 operating ratio 58.7%, a 220 bps improvement; includes $40M crew staffing agreement expense.
- FY 2024 operating income $9.7B (+7%); capital spend $3.4B; share repurchases 6.3M shares at $1.5B.
- 2025 outlook: EPS growth targeting high-single to low-double digit CAGR; share repurchases $4.0-4.5B.
- FY 2024 return on invested capital 15.8%; workforce productivity record with 1,062 car miles per employee.

## SEC filing metadata
- accession: 0001628280-25-002292
- form_type: 8-K
- ticker: UNP
- cik: 0000100885
- company_name: UNION PACIFIC CORP
- filed_at: 2025-01-23T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/100885/000162828025002292/0001628280-25-002292-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/100885/000162828025002292/unp-20250123.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-25-002292
- JSON: https://secwatch.observer/filing/0001628280-25-002292.json
- Plain text: https://secwatch.observer/filing/0001628280-25-002292.txt

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