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Mar 31, 2025
Union Pacific Q1 2025 Earnings Report
Union Pacific reported flat revenue and earnings in a mixed operating environment.
Key Takeaways
Union Pacific posted steady Q1 results with revenue of $6.0 billion and net income of $1.626 billion. EPS was unchanged at $2.70, as gains from volume and pricing were offset by fuel headwinds and unfavorable business mix.
Operating revenue was flat year-over-year at $6.027 billion.
EPS held steady at $2.70, with core pricing helping offset fuel costs and leap year impacts.
Freight revenue excluding fuel surcharge rose 4% despite a challenging mix.
Operational metrics improved, with record freight car velocity and workforce productivity gains.
Revenue by Segment
Forward Guidance
Union Pacific reaffirmed its full-year 2025 outlook, targeting EPS growth aligned with its long-term CAGR goal despite a mixed economic environment.
Positive Outlook
- EPS growth expected to meet high-single to low-double digit CAGR target
- Strong focus on safety, service, and operational excellence
- Core pricing expected to remain accretive to operating ratio
- Capital plan of $3.4 billion to support infrastructure and growth
- Share repurchase program of $4.0 to $4.5 billion remains in place
Challenges Ahead
- Mixed economic backdrop affecting volume
- Challenging YoY comparisons in international intermodal
- Coal demand remains variable
- Operating ratio impacted by fuel and leap year
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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