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Compared to Estimates, Union Pacific (UNP) Q1 Earnings: A Look at Key Metrics

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For the quarter ended March 2026, Union Pacific (UNP - Free Report) reported revenue of $6.22 billion, up 3.2% over the same period last year. EPS came in at $2.93, compared to $2.70 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $6.21 billion, representing a surprise of +0.14%. The company delivered an EPS surprise of +2.84%, with the consensus EPS estimate being $2.85.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Union Pacific performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
  • Operating Ratio: 60.5% versus 60.5% estimated by three analysts on average.
  • Revenue Ton-Miles: 111.5 billion compared to the 109.8 billion average estimate based on two analysts.
  • Revenue Carloads - Total: 2.08 million versus 2.09 million estimated by two analysts on average.
  • Revenue Carloads - Industrial Products: 560 thousand compared to the 560.2 thousand average estimate based on two analysts.
  • Average revenue per car: $2,829.00 versus the two-analyst average estimate of $2,809.10.
  • Average revenue per car - Industrial Products: $3,911.00 versus $3,871.94 estimated by two analysts on average.
  • Revenue Carloads - Premium: 975 thousand versus 981.24 thousand estimated by two analysts on average.
  • Freight Revenues- Premium: $1.68 billion compared to the $1.68 billion average estimate based on two analysts. The reported number represents a change of -5.5% year over year.
  • Freight Revenues- Bulk: $2.03 billion versus the two-analyst average estimate of $2.02 billion. The reported number represents a year-over-year change of +10.4%.
  • Operating Revenues- Other revenues: $324 million versus the two-analyst average estimate of $322.56 million. The reported number represents a year-over-year change of -3.6%.
  • Freight Revenues- Industrial Products: $2.19 billion compared to the $2.17 billion average estimate based on two analysts. The reported number represents a change of +5.2% year over year.
  • Operating Revenues- Freight revenues: $5.89 billion versus the two-analyst average estimate of $5.86 billion. The reported number represents a year-over-year change of +3.6%.

View all Key Company Metrics for Union Pacific here>>>

Shares of Union Pacific have returned +3.3% over the past month versus the Zacks S&P 500 composite's +9.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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