Union Pacific Corp

UNP: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Union Pacific Earnings: Intermodal Boom Ends, Network Efficiency Holds Strong

Matthew Young

Oct 23, 2025

Class I railroad Union Pacific's third-quarter revenue grew 2.5% year over year on higher core pricing and a swing to favorable mix (international intermodal activity is now falling), as volume was flat. Adjusted operating profitability showed continued improvement on a year-over-year basis.

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Union Pacific Corp

Union Pacific Earnings: Intermodal Boom Ends, Network Efficiency Holds Strong

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