Overview
- Union Pacific reported Q3 net income of $1.79 billion, or $3.01 per share, with adjusted EPS of $3.08 on $6.24 billion in revenue and an operating ratio of 59.2%.
- Management said a detailed merger application to acquire Norfolk Southern will be submitted to the Surface Transportation Board by late November or early December, kicking off an estimated 12 to 18 month review.
- Results were lifted by core pricing, efficiency gains and resilient bulk shipments such as coal and grain, while intermodal volumes declined.
- The railroad cited record operational metrics, including faster car velocity, higher train speed, lower terminal dwell at 20.4 hours and best‑ever workforce productivity.
- Reactions to the $85 billion proposal remain split, with support from the largest rail union and some customers and opposition from rivals and certain shipper groups, and Norfolk Southern also posted higher adjusted profit.