Union Pacific Posts Record $2.1B Q3 Profit

Union Pacific reported strong third-quarter 2026 results, with adjusted earnings per share up 15% to $3.53 and revenue rising about 15% year over year. Six percent volume growth, stronger pricing and fuel surcharges helped drive the gains, with intermodal revenue a notable contributor; the company also said it safely managed higher volumes and achieved operational efficiency records. Higher fuel costs weighed on expenses, but management reaffirmed its outlook for high-single-digit reported EPS growth in 2026 and its $3.5 billion capital plan. The results come as regulators review Union Pacific’s proposed acquisition of Norfolk Southern, a major deal that could reshape U.S. freight rail competition.