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Union Pacific UNP Q2 2026 earnings

Reported July 23, 2026 · Before market open

Revenue$6.9BBeat by $148.5M
EPS$3.41Beat by $0.15
Revenue estimate$6.7B
EPS estimate$3.26
“Looking ahead, we are prepared to meet increasing customer demand with best-in class safety, service and operational excellence. Additionally, we are ready to move forward in the regulatory process and deliver the benefits of America's first transcontinental railroad offering greater competition, better service and a stronger supply chain.”
Jim Vena

Next report

Oct 22, 2026 (In 2 weeks)
Revenue estimate$7.0B
EPS estimate$3.44

Financials

Q2 2026

Income statement

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Revenue$6.9B+11.5%
Operating income$2.8B+9.4%
Net income$2.0B+6.2%
EPS (diluted)$3.36+6.7%

Balance sheet

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Cash & equivalents$1.6B+52.3%
Total debt$31.2B-8.2%
Total equity$20.7B+27.2%
Total assets$71.2B+3.8%

Cash flow

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Operating cash flow$3.1B+31.8%
CapEx$873.0M-6.7%
Free cash flow$2.2B+57.7%

Valuation & ratios

Valuation

as of 10/02/26
See full
Market cap$161.84B+16.3%
Enterprise value$191.39B+11.8%
P/E22.1×+2.4×
P/S6.4×+0.7×

Profitability

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Operating margin40%-0.3pp
Net margin28.8%+0.4pp
FCF margin25.6%-0.1pp

Returns & leverage

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Return on equity39.7%-2.7pp
Debt / equity1.5×-0.6×
Current ratio1×+0.3×

Segments

By segment

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Reportable Segment$6.9B+11.5%

By geography

See full
Mexico$828.0M+10.3%

FAQ

When did Union Pacific report Q2 2026 earnings?
Union Pacific (UNP) reported Q2 2026 earnings on July 23, 2026 before market open.
What were Union Pacific's Q2 2026 revenue and EPS?
Union Pacific reported revenue of $6.9B and eps of $3.41 for Q2 2026.
Did Union Pacific beat estimates in Q2 2026?
Revenue beat the consensus estimate of $6.7B by $148.5M. EPS beat the consensus estimate of $3.26 by $0.15.
How did Union Pacific's Q2 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 11.5% from $6.2B a year earlier and eps grew 12.5% from $3.03.
Where can I find Union Pacific's Q2 2026 SEC filings?
You can read the 8-K earnings release (0000100885-26-000249) and the 10-Q periodic report (0000100885-26-000250) directly on SEC EDGAR. The filing index links above go to sec.gov.