Union Pacific Corp

UNP: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Union Pacific Earnings: Intermodal Cools, Wage Inflation Picks Up Again

Matthew Young

Jan 28, 2026

Class-I railroad Union Pacific's fourth-quarter revenue fell 1% year over year on difficult comps for intermodal, only partly offset by solid core pricing and favorable mix (lower international intermodal activity). Adjusted operating profitability deteriorated due to rising cost inflation.

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Union Pacific Corp

Union Pacific Earnings: Intermodal Cools, Wage Inflation Picks Up Again

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