Union Pacific Corporation (UNP) Q3 2025 10-Q Quarterly Report
Union Pacific Corporation (UNP) 10-Q quarterly report for Q3 2025, filed with SEC EDGAR on Oct 23, 2025 for the fiscal period ending Sep 30, 2025. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.
Union Pacific Corporation Q3 2025 10-Q Analysis
Management Discussion & Analysis
- • Revenue $6.24B for Q3 2025, up 3% YoY from $6.09B in Q3 2024 driven by freight revenue growth
- • Operating margin improved; operating ratio 59.2% in Q3 2025 vs 60.3% in Q3 2024, a 1.1pts improvement
- • Best segment: Bulk freight revenues up 7% YoY to $1.93B in Q3 2025; worst: Premium segment down 2% YoY to $1.80B
- • Operating cash flow $7.07B YTD 2025, up from $6.68B YTD 2024; capital expenditures increased to $2.79B YTD 2025
- • Management highlights ongoing productivity gains, improved service metrics, capital plan steady at $3.4B for 2025, pending Norfolk Southern acquisition noted as a factor
Risk Factors
- • No new or updated risk factors disclosed this quarter compared to the most recent 10-K
- • Carried-forward competitive risk: operational disruption from labor disputes or workforce shortages remains a concern
- • Regulatory risk: ongoing compliance with SEC and New York Stock Exchange governance requirements highlighted
- • Market risk: exposure to cyclical freight demand fluctuations affecting revenue stability and operating margins
- • Financial risk: dependence on liquidity management and capital markets access for ongoing debt maturity refinancings
Union Pacific Corporation Q3 2025 Quarterly FinancialsXBRL
Revenue
$6.2B
▲ +2.5% YoY▲ +1.5% QoQ
Net Income
$1.8B
▲ +7.0% YoY▼ -4.7% QoQ
Net Margin
28.6%
▲ +120bp YoY▼ -185bp QoQ
Source: XBRL data from Union Pacific Corporation Q3 2025 10-Q filing on SEC EDGAR. All figures in USD.
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