The company said net income for Q2 2025 was $1.9 billion ($3.15 per diluted share), and net income for Q2 2024 was $1.7 billion ($2.74 per share). It said Q2 results included a deferred tax benefit of $115 million, partly offset by a crew staffing agreement of $55 million.

1. 01

   The company said net income for Q2 2025 was $1.9 billion ($3.15 per diluted share), and net income for Q2 2024 was $1.7 billion ($2.74 per share). It said Q2 results included a deferred tax benefit of $115 million, partly offset by a crew staffing agreement of $55 million.

2. 02

   Union Pacific said operating revenue for Q2 rose 2% to $6.2 billion, its operating ratio (OR) was 59.0%, an improvement of 100 basis points, and its adjusted operating ratio was 58.1%. The company cited higher volume and core pricing gains as the drivers of the revenue increase.

3. 03

   The company reported operating cash flow of $4,543 million and free cash flow of $1,105 million for the 6 months ended June 30, 2025. It also spent $2,679 million under its share repurchase program over the same period.

4. 04

   Union Pacific reaffirmed its 2025 outlook and outlined a capital plan of $3.4 billion, share repurchases of $4.0 to $4.5 billion, and a 3% increase in its dividend for Q3 2025. The company said there was no change to its long-term capital allocation strategy.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

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

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