Union Pacific beats Q2 estimates as freight revenue rises

Published 24/07/2025, 13:20
© Reuters

Investing.com -- Union Pacific Corporation reported second-quarter earnings that exceeded analyst expectations, driven by higher freight volumes and improved operational efficiency. The railroad operator’s shares rose 1.3% following the announcement.

The company posted adjusted earnings per share of $3.03 for the second quarter of 2025, surpassing the analyst estimate of $2.90. Revenue came in at $6.2 billion, above the consensus estimate of $6.15 billion. Freight revenue excluding fuel surcharge grew 6% compared to the same period last year, while overall revenue increased 2% YoY.

Union Pacific (NYSE:UNP) reported a 4% increase in revenue carloads, reflecting stronger demand across its network. The company achieved an adjusted operating ratio of 58.1%, an improvement of 230 basis points from the previous year, indicating enhanced operational efficiency.

"We are delivering on our strategy and our second quarter results demonstrate our commitment to leading the industry as we set new standards for safety, service, and operational excellence," said Jim Vena, Union Pacific Chief Executive Officer. "The foundation is built, we are growing with our customers, and we have strong momentum as we continue to maximize the value of our great franchise."

The railroad achieved significant operational improvements, with freight car velocity increasing 10% to 221 daily miles per car. Locomotive productivity improved 5% to 141 gross ton-miles per horsepower day, while workforce productivity rose 9% to 1,124 car miles per employee.

Union Pacific affirmed its 2025 outlook, projecting earnings per share growth consistent with its three-year target of high-single to low-double digit compound annual growth rate. The company maintained its capital plan of $3.4 billion and share repurchase target of $4.0 to $4.5 billion, while announcing a 3% dividend increase for the third quarter of 2025.

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