Union Pacific said operating income for 2024 was $9.7 billion, up 7% from 2023, and its operating ratio was 59.9%, improving 2.4 points from 2023. Net income was $6.7 billion, and diluted earnings per share were $11.09, up 6% from 2023.

1. 01

   Union Pacific said operating income for 2024 was $9.7 billion, up 7% from 2023, and its operating ratio was 59.9%, improving 2.4 points from 2023. Net income was $6.7 billion, and diluted earnings per share were $11.09, up 6% from 2023.

2. 02

   The company said freight revenues for 2024 were $22.8 billion, up 1% year-over-year, driven by a 3% increase in volumes and core pricing gains, partially offset by lower fuel surcharge revenues and negative mix. Fuel surcharge revenues were $2.6 billion in 2024 and $3.0 billion in 2023.

3. 03

   Union Pacific said it generated $9.3 billion of cash provided by operating activities in 2024, and after deducting $3.3 billion for cash used in investing activities and $3.2 billion in dividends paid, recorded free cash flow of $2.8 billion. The company cited payments in 2023 related to back wages for agreements reached with its labor unions as the reason operating cash flow and free cash flow were each higher by $384 million.

4. 04

   Union Pacific said it held $1.0 billion of cash and cash equivalents and $2.0 billion of committed credit available under its revolving credit facility as of December 31, 2024, and did not draw on its revolving credit facility at any time during 2024. The company also said its 2025 capital plan was approximately $3.4 billion, at the same level as 2024.

Key figures

Fiscal year ended December 31, 2024

Revenue

$24.3B

Operating income

$9.7B

Net income

$6.7B

EPS

$11.09

Operating cash flow

$9.3B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.