Overview
- Union Pacific, which reported first-quarter results Thursday, posted net income of $1.7 billion and earnings of $2.87 per share on $6.22 billion in revenue.
- Efficiency improved, with an adjusted operating ratio of 59.9%, freight car velocity up 9%, terminal dwell down 11%, and locomotive productivity up 6%.
- The company said it will resubmit its Norfolk Southern merger application by April 30 after the U.S. Surface Transportation Board sought more detail, and it is targeting regulatory approval in 2027.
- Quarterly results included $36 million in merger costs as Union Pacific reaffirmed mid-single-digit 2026 EPS growth and planned $3.3 billion for network investment.
- Support for the first coast-to-coast freight railroad remains split, with some unions backing job guarantees and key shipper groups raising competition concerns, while President Donald Trump said the deal sounds good to him.