Every material Form 8-K Union Pacific has filed with the SEC since November 17, 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Union Pacific reported third quarter 2026 net income of $2.1 billion, up 16%, and diluted EPS of $3.49, up from $3.01 a year earlier. Operating revenue reached $7.2 billion, up 15%, with 6% volume growth, while higher fuel prices added 140 basis points to the operating ratio. The company affirmed its 2026 EPS growth outlook of high-single digits and said it is on track with its Investor Day targets.
Diluted EPS of $3.49 vs. $3.01 in Q3 2025, up 16%; adjusted diluted EPS of $3.53, up 15%
Operating revenue of $7.2 billion, up 15%; revenue carloads up 6%
Reported operating ratio of 59.1%, improved 10 basis points; higher fuel prices unfavorably affected the ratio by 140 basis points
2026 outlook: reported EPS growth of high-single digits affirmed; capital plan updated to $3.5 billion
Union Pacific said Chief Financial Officer Jennifer Hamann will retire in early 2027 after 35 years with the company, and she will keep her current responsibilities until then. The company has not yet named a successor and said it will announce succession plans and further transition details at a later date.
Jennifer L. Hamann, Executive Vice President and Chief Financial Officer, plans to retire effective in early 2027.
Hamann joined Union Pacific in 1992 and was named chief financial officer in January 2020.
Union Pacific said it will announce succession plans and additional transition details at a later date.
The filing reports no financial results; the announcement is furnished as Exhibit 99.1.
Union Pacific reported second quarter 2026 net income of $2.0 billion, up 6%, and diluted EPS of $3.36, up 7%, with operating revenue of $6.9 billion, up 12%. Adjusted diluted EPS was $3.41, up 13%, and the company said reported EPS growth for 2026 increased to high-single digits, which it said is consistent with its 3-year target. Higher fuel prices weighed on margins, with the operating ratio rising to 59.7%.
Diluted EPS of $3.36 (up 7%) and adjusted diluted EPS of $3.41 (up 13%) for the quarter ended June 30, 2026
Operating revenue of $6.9 billion, up 12%; freight revenue excluding fuel surcharge grew 4%
Reported operating ratio of 59.7%, up 70 basis points; higher fuel prices unfavorably affected the ratio by 120 basis points
2026 outlook: reported EPS growth increased to high-single digit; capital plan of $3.3 billion and consistent annual dividend increases affirmed
Union Pacific reported first quarter 2026 net income of $1.7 billion, or $2.87 per diluted share, up from $1.6 billion, or $2.70 per diluted share, a year earlier. Operating revenue rose 3% to $6.2 billion and the reported operating ratio improved to 60.5%. The company affirmed its 2026 outlook, including mid-single-digit reported EPS growth, and results include $36 million of merger costs.
Net income of $1.7 billion and diluted EPS of $2.87, versus $1.6 billion and $2.70 in Q1 2025; adjusted diluted EPS was $2.93
Operating revenue of $6.2 billion, up 3%; freight revenue up 4% to $5.9 billion
Reported operating ratio of 60.5%, a 20 basis point improvement; merger costs of $36 million, or $0.06 per diluted share
2026 outlook affirmed, including reported EPS growth of mid-single digits and a $3.3 billion capital plan
Union Pacific reported fourth-quarter 2025 net income of $1.8 billion and diluted EPS of $3.11, up 7% from $2.91, with results helped by $234 million of industrial park land sales. Adjusted quarterly diluted EPS was $2.86, down from $2.96, and fourth-quarter operating revenue fell 1%. For the full year, net income rose 6% to $7.1 billion and diluted EPS rose 8% to $11.98, and the company expects 2026 EPS growth in the mid-single digits.
Q4 operating revenue of $6.1 billion declined 1%, and revenue carloads fell 4%
Q4 diluted EPS was $3.11 reported and $2.86 adjusted, versus $2.91 and $2.96 a year earlier
Full year 2025 net income of $7.1 billion rose 6%; diluted EPS of $11.98 rose 8%
2026 outlook calls for EPS growth of mid-single digits and a capital plan of $3.3 billion
Union Pacific's board elected W. Anthony Will, current president and CEO of CF Industries Holdings, as a director effective January 5, 2026, and he will join the Audit and Finance Committees. The filing says the board found him independent under NYSE standards, and it discloses no financial results or changes to operations.
Will is elected effective January 5, 2026, and will serve on the Audit and Finance Committees.
He retires as CF Industries president and CEO effective January 4, 2026, and serves as Senior Advisor until March 15, 2026.
The board determined he has no material relationship with the company and is independent under NYSE listing standards.
The company issued a press release dated December 12, 2025, attached as Exhibit 99.1.
Union Pacific shareholders approved the issuance of Union Pacific common stock under the Norfolk Southern merger agreement at a November 14, 2025 special meeting, with 465,888,036 votes for and 2,214,119 against. The mergers still depend on conditions including regulatory approvals, such as review by the Surface Transportation Board, so the transaction is not complete.
Share Issuance Proposal: 465,888,036 for, 2,214,119 against, 786,729 abstentions
Quorum of 468,888,884 shares, about 79% of the 593,127,035 shares outstanding on the October 6, 2025 record date
Adjournment Proposal passed with 443,263,243 for, but no adjournment was needed
Completion of the mergers remains subject to conditions, including certain regulatory approvals
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Union Pacific filing is on SEC EDGAR ↗. 8-K briefs of other companies →