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Union Pacific Gears Up to Report Q3 Earnings: Is a Beat in Store?

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Key Takeaways

  • Union Pacific's Q3 earnings are projected to rise 12.7% to $3.47 per share, with an earnings beat expected.
  • UNP's Q3 revenues are expected to climb 13.97% to $7.12 billion, aided by a 14.8% rise in freight revenues.
  • Lower shipment volumes, Middle East tensions and supply-chain disruptions may pressure UNP's Q3 performance.

Union Pacific Corporation (UNP - Free Report) is scheduled to report third-quarter 2026 results on Oct. 22, before market open.

The Zacks Consensus Estimate for UNP’s third-quarter 2026 earnings has been revised upward by 2.06% over the past 60 days to $3.47 per share. The consensus mark for earnings implies a 12.7% rise from the year-ago actuals. The Zacks Consensus Estimate for UNP’s third-quarter 2026 revenues is pegged at $7.12 billion, indicating 13.97% growth year over year.

Zacks Investment Research
Image Source: Zacks Investment Research

Union Pacific has an encouraging earnings surprise history. The company’s earnings have surpassed the Zacks Consensus Estimate in three of the preceding four quarters and missed once in the remaining, delivering an average beat of 2.75%.

Zacks Investment Research
Image Source: Zacks Investment Research

Let’s see how things are likely to have shaped up for Union Pacific this earnings season.

Factors to Note Ahead of UNP’s Q3 Earnings Release

We expect the company’s top-line performance in the to-be-reported quarter to have been boosted by an uptick in demand for services. The Zacks Consensus Estimate for freight revenues (which account for most of total revenue) is $6.81 billion, indicating a 14.8% increase from third-quarter 2025 actuals.

The consensus mark for other revenues is pegged at $311 million, implying a 1.8% decrease from the third-quarter 2025 actuals.

On the contrary, persistent geopolitical tensions in the Middle East and ongoing supply-chain disruptions are also likely to have pressured the company's bottom line. The decline in shipment volumes is likely to have offset the benefits of pricing initiatives, hampering the company’s third-quarter prospects.

What Our Model Says About UNP

Our proven model predicts an earnings beat for Union Pacific this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.

Union Pacific has an Earnings ESP of +0.28% and a Zacks Rank #3 at present.

Union Pacific Corporation Price and EPS Surprise

Union Pacific Corporation Price and EPS Surprise

Union Pacific Corporation price-eps-surprise | Union Pacific Corporation Quote

Highlights of UNP’s Q2 Earnings

Union Pacific second-quarter 2026 earnings (excluding 5 cents from non-recurring items) of $3.41 per share beat the Zacks Consensus Estimate by 6.6% and increased roughly 13% on a year-over-year basis.

Operating revenues of $6.86 billion beat the Zacks Consensus Estimate of $6.65 billion and rose 11.5% on a year-over-year basis, driven by core pricing gains, volume growth and higher fuel surcharge revenues, partially offset by business mix. Revenue carloads increased 2% year over year.

Other Stocks to Consider

Old Dominion Freight Line (ODFL - Free Report) has an Earnings ESP of +0.25% and a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

ODFL is scheduled to report third-quarter 2026 earnings on Oct. 28. The Zacks Consensus Estimate for third-quarter 2026 earnings has been revised upward by 0.63% over the past 60 days. ODFL’s earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, with the average beat being 6.71%.

Kirby Corporation (KEX - Free Report) has an Earnings ESP of +1.87% and a Zacks Rank #3 at present. KEX is scheduled to report third-quarter 2026 earnings on Oct. 28.

The Zacks Consensus Estimate for third-quarter 2026 earnings has been revised upward by 0.51% to $1.96 per share over the past 60 days. KEX beat the Zacks Consensus Estimate in three of the preceding four quarters and met the mark on the other occasion. The average beat is 2.86%.  

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