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Union Pacific (UNP) Reports Q3 Earnings: What Key Metrics Have to Say

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Union Pacific (UNP - Free Report) reported $7.2 billion in revenue for the quarter ended September 2026, representing a year-over-year increase of 15.3%. EPS of $3.53 for the same period compares to $3.08 a year ago.

The reported revenue represents a surprise of +1.13% over the Zacks Consensus Estimate of $7.12 billion. With the consensus EPS estimate being $3.47, the EPS surprise was +1.73%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

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: 59.1% versus the three-analyst average estimate of 58.7%.
  • Revenue Ton-Miles: 114.08 billion compared to the 113.1 billion average estimate based on two analysts.
  • Revenue Carloads - Total: 2.29 million compared to the 2.28 million average estimate based on two analysts.
  • Revenue Carloads - Industrial Products: 606 thousand compared to the 607.95 thousand average estimate based on two analysts.
  • Average revenue per car: $2,971.00 versus $2,982.64 estimated by two analysts on average.
  • Average revenue per car - Industrial Products: $4,136.00 versus the two-analyst average estimate of $4,107.79.
  • Revenue Carloads - Premium: 1.16 million compared to the 1.15 million average estimate based on two analysts.
  • Freight Revenues- Premium: $2.19 billion compared to the $2.22 billion average estimate based on two analysts. The reported number represents a change of +21.4% year over year.
  • Freight Revenues- Bulk: $2.12 billion versus $2.09 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +9.6% change.
  • Operating Revenues- Other revenues: $384 million versus $311.14 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +21.1% change.
  • Freight Revenues- Industrial Products: $2.51 billion compared to the $2.5 billion average estimate based on two analysts. The reported number represents a change of +14.4% year over year.
  • Operating Revenues- Freight revenues: $6.81 billion versus $6.81 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +15% change.

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

Shares of Union Pacific have returned +4.5% over the past month versus the Zacks S&P 500 composite's no 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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