Highest-materiality recent filing
Union Pacific Q2 2026 EPS $3.36, revenue up 12%; raises EPS growth outlook to high-single digit
Net income $2.0B (+6% YoY); diluted EPS $3.36 (+7%); adjusted diluted EPS $3.41 (+13%).
Quorum of 90.76% (538,870,394 of 593,678,300 shares) present at May 14, 2026 annual meeting.
Union Pacific Q1 adjusted EPS $2.93 vs $2.70 YoY; revenue up 3% to $6.2B
Reported net income $1.7B, diluted EPS $2.87; adjusted EPS $2.93 vs $2.70 in Q1 2025.
Union Pacific Q4 reported EPS $3.11; full year net income up 6%; 2026 EPS growth mid-single digit
Q4 reported net income $1.8B, EPS $3.11; adjusted EPS $2.86 vs $2.96 YoY. Revenue $6.1B down 1%.
Filing submitted Dec 19, 2025; nearly 7,000 pages; includes 2,000 letters of support and 99% shareholder votes in favor.
Union Pacific appoints W. Anthony Will to board effective Jan. 5, 2026
Will is retiring as CEO and President of CF Industries on Jan. 4, 2026, then serving as senior advisor through March 15.
Union Pacific shareholders approve Norfolk Southern merger; 99.5% votes in favor
99.5% of votes cast (465.9M for, 2.2M against) approved share issuance for Norfolk Southern merger.
Union Pacific and Norfolk Southern supplement merger proxy after shareholder lawsuits
Three lawsuits filed in NY Supreme Court challenging merger disclosure; Union Pacific and Norfolk Southern deny claims.
Union Pacific Q3 adjusted EPS $3.08, revenue $6.2B; OR improves 180 bps
Adjusted diluted EPS of $3.08, up from $2.75 in prior year; reported EPS $3.01.
Union Pacific CFO: Q3 productivity strong; $50M merger fees; buyback paused
CFO Jennifer Hamann expects continued network fluidity to drive strong Q3 productivity.
Deal values Norfolk Southern at $320/share (1.0 UNP share + $88.82 cash), 25% premium to 30-day VWAP.
Union Pacific to acquire Norfolk Southern for 1 UNP share + $88.82 cash per NSC share
Each Norfolk Southern share exchanged for 1 Union Pacific share plus $88.82 cash.
Union Pacific Q2 EPS $3.15 vs $2.74 YoY; revenue $6.2B up 2%
Diluted EPS of $3.15 (GAAP); adjusted EPS $3.03; net income $1.9B vs $1.7B YoY.
Union Pacific and Norfolk Southern confirm advanced merger discussions
Union Pacific (UNP) and Norfolk Southern (NSC) disclosed advanced talks for a potential business combination on July 24, 2025.
All 11 director nominees elected; votes for ranged from 448,028,387 (McCarthy) to 465,200,198 (Finley).
Beth Whited transitions from President to Strategic Advisor effective July 1, 2025; will advise through early 2026.
Union Pacific Q1 EPS flat at $2.70, revenue flat at $6.0B; volume up 7%
Net income $1.6B ($2.70 diluted EPS) vs $1.6B ($2.69) year ago; EPS unchanged.
Union Pacific establishes $1.5B accelerated share repurchase programs
ASRs with Barclays and Citi for $1.5B aggregate; ~4.8M shares received on Feb 18, 2025.
Union Pacific issues $2B in notes: $1B at 5.100% (2035) and $1B at 5.600% (2054)
Issued $1B 5.100% Notes due 2035 and $1B 5.600% Notes due 2054 via underwritten public offering.
Union Pacific Q4 EPS $2.91 (+7% YoY); FY EPS $11.09 (+6%); operating ratio improves
Q4 operating revenue $6.1B (-1% YoY) on volume +5% and core pricing, offset by lower fuel surcharge.
Union Pacific Q3 EPS $2.75 beats prior year $2.51; operating income up 11%
Diluted EPS $2.75, up 10% from $2.51; net income $1.7B, up 9% from $1.5B.
Revenue (ex-fuel) to grow faster than volume (ex-coal) and outpace served markets over 3 years.
Union Pacific Q2 EPS $2.74, up 7%; operating income up 9%
Q2 2024 diluted EPS $2.74, up 7% YoY vs $2.57; net income $1.7B vs $1.6B.
Union Pacific shareholders elect all 12 directors, approve say-on-pay, reject two proposals
All 12 incumbent directors elected; lowest vote total was McCarthy with 445.6M for vs 25.9M against.
Union Pacific Q1 EPS $2.69 (+1%); operating income record $2.4B, OR improves 140 bps
Net income $1.6B ($2.69 diluted EPS), up 1% from $2.67 YoY; revenue flat at $6.0B.
Union Pacific Q4 EPS $2.71 (+1% YoY); full-year net income down 9% to $6.4B
Q4 diluted EPS $2.71, net income $1.7B, both up ~1% YoY.
Union Pacific appoints John Tien, former DHS deputy secretary, to board of directors
John Tien elected to board effective December 14, 2023; fills current vacancy.
Union Pacific Q3 EPS $2.51 vs $3.05 YoY; revenue down 10% to $5.9B
Net income of $1.5B ($2.51 diluted EPS) vs $1.9B ($3.05) in Q3 2022, a 21% decline.
Union Pacific director Jose H. Villarreal retires; committee chairs appointed
Villarreal retires effective Oct 1, 2023, after 14 years; no disagreement with company.
Union Pacific CEO Lance Fritz to step down, remain as advisor through early 2025
Lance Fritz resigns as Chairman, President and CEO effective August 14, 2023, and will serve as Special Advisor until February 1, 2025.
Union Pacific Q2 EPS $2.57 vs $2.93 YoY; revenue down 5% to $6B
Net income $1.6B ($2.57 diluted EPS) vs $1.8B ($2.93) in Q2 2022.
Union Pacific names Jim Vena CEO, Beth Whited President; adds two directors, new safety committee
Vena (former COO) becomes CEO effective Aug 14; Fritz steps down.
Union Pacific sees Q2 $70M labor charge; Nebraska tax adds $75M; 2023 operating ratio to exceed 2022
One-time pre-tax expense of ~$70M in Q2 2023 from SMART-TD crew staffing ratification; adds ~120 bps to Q2 operating ratio.
UNP annual meeting: all 10 directors elected; shareholder proposals rejected
All 10 director nominees elected with votes for ranging from 425M to 451M; largest against was Lance Fritz (31.8M withhold).
Union Pacific Q1 EPS $2.67, revenue up 3% to $6.1B; operating ratio worsens 270 bps
EPS diluted $2.67, net income $1.6B; Q1 record operating revenue $6.1B (+3% YoY) driven by fuel surcharge and core pricing.
Union Pacific Board expects to name new CEO in 2023; Lance Fritz to step down after 8 years
Board expects to name successor in 2023; current CEO Lance Fritz to transition after 8-year tenure.
Union Pacific issues $1B in notes: $500M 4.750% due 2026, $500M 4.950% due 2053
Issued $500M of 4.750% Notes due 2026 and $500M of 4.950% Notes due 2053.
Q4 EPS $2.67 (flat vs $2.66); revenue $6.2B +8%; operating income $2.4B -1%; operating ratio 61.0% worsened 360 bps.
Union Pacific Q3 2022: EPS $3.05 ($3.19 adj); revenue $6.6B +18%; OR 59.9% (adj 58.2%)
Net income $1.9B ($3.05 diluted EPS); adjusted EPS $3.19 vs $2.57 in Q3 2021.
Union Pacific prices $1.9B debt offering across three tranches with maturities 2033-2063
Issued $900M of 4.500% Notes due 2033, $600M of 4.950% Notes due 2052, and $400M of 5.150% Notes due 2063.
Union Pacific Q2 EPS $2.93, revenue up 14% to $6.3B; operating ratio worsens to 60.2%
Net income $1.8B ($2.93 diluted EPS) vs $1.8B ($2.72); revenue $6.3B, up 14% YoY.
Union Pacific files revised service recovery plan with STB, includes key operating metrics
Filed revised service recovery plan with U.S. Surface Transportation Board on June 23, 2022.
Union Pacific says 2022 OR starting with '55' unlikely; inflation ~4%
CFO Hamann reaffirmed FY2022 OR improvement vs 2021, but incremental margins below original mid-60% forecast.
Union Pacific to record $80M pre-tax gain from land sale to Illinois Tollway
Railroad completed second closing of land sale to Illinois State Toll Highway Authority on May 26, 2022.
Union Pacific shareholders elect all 10 director nominees, ratify auditor, approve say-on-pay
All 10 director nominees elected with majority votes; Lance M. Fritz received 440.6M for, 40.1M against.
Union Pacific Q1 2022 EPS $2.57, revenue up 17%, operating ratio improves to 59.4%
Diluted EPS of $2.57, net income $1.6B, up from $2.00 and $1.3B in Q1 2021.
Union Pacific launches $2.2B accelerated share repurchase; to receive ~7M shares immediately
Established ASRs with JPMorgan and Mizuho to repurchase $2.2B of common stock.
Union Pacific issues $3.5B in notes across four maturities up to 2072
Offered $1.25B 2.80% notes due 2032, $500M 3.375% notes due 2042, $1.25B 3.50% notes due 2053, $500M 3.85% notes due 2072.
Union Pacific publishes first 'We Are One' human capital report highlighting DEI progress
Nearly 50% of 2021 new hires were people of color; 13% female.
Union Pacific elects Teresa Finley to board of directors
Teresa M. Finley, 60, elected to board effective Feb. 4, 2022.
On May 8, 2025, the Board of Directors of the Company approved the appointment of Carrie J. Powers as Vice President, Controller, and Chief Accounting Officer and to serve as principal accounting officer, effective immediately.
On May 8, 2025, the Company also announced that Todd M. Rynaski will transition from Senior Vice President, Chief Accounting, Risk, and Compliance Officer to Senior Vice President-Strategy effective immediately
On May 9, 2025, Union Pacific Corporation (the “Company”) announced that its President, Elizabeth F. Whited, will transition from President to Strategic Advisor, effective July 1, 2025
The Board of Directors (the Board) of Union Pacific Corporation (the Company) elected John K. Tien, age 60, to serve on the Board as a director of the Company, effective December 14, 2023.
On September 28, 2023, the Board of Directors (the Board) of Union Pacific Corporation (Company) accepted the request of Director Jose H. Villarreal to retire from his service on the Board.
Lance M. Fritz will cease to serve as the Chairman, President and Chief Executive Officer of Union Pacific Corporation (the “Company”) and will retire from the Company’s Board of Directors (the “Board”) on August 14, 2023 (the “Transition Date”).
the Board appointed Mr. Vena to the Board, effective August 14, 2023
the Board appointed Elizabeth F. Whited, 58, the Company's current Executive Vice President - Sustainability and Strategy, as the Company and Railroad’s President, effective August 14, 2023.
Mr. Vena succeeds Lance M. Fritz, who will cease to serve as the Company's President and Chief Executive Officer and will retire from the Board on August 14, 2023.
appointed Doyle R. Simons, former President and CEO of Weyerhaeuser Company, and John P. Wiehoff, former Chairman, President and CEO of C.H. Robinson Worldwide, Inc., to the Board, each effective July 26, 2023.
the Board appointed V. James Vena, 64, the Company's former Chief Operating Officer, as Chief Executive Officer of the Company and Union Pacific Railroad Company, the principal operating subsidiary of the Company (the “Railroad”), effective August 14, 2023.
appointed Doyle R. Simons, former President and CEO of Weyerhaeuser Company, and John P. Wiehoff, former Chairman, President and CEO of C.H. Robinson Worldwide, Inc., to the Board, each effective July 26, 2023.
Max materiality 1.00 · Median 0.70 · Most common event earnings