UNP
Union Pacific Corporation
September 21, 2026 · market open
- Rarity
- 1.35
- Peak move
- −3.87%
- Float cap
- $165.4B
Union Pacific Corporation operates through Union Pacific Railroad Company, a Class I railroad serving the western two-thirds of the United States. It moves bulk, industrial, and premium freight—including grain, fertilizer, coal, chemicals, plastics, metals, automobiles, and intermodal containers—for producers, manufacturers, utilities, and logistics customers across North America.
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What we found
13 events · 0 from SEC or newswire · 0 timed with the move- Key event
commodity_eventOn-highway diesel averaged a record $6.285 a gallon in the EIA's weekly print, 68% above a year earlier, and the average fuel surcharge on grain cars hit a record 48 cents a mile, up 153% year over year per USDA.
regulatory_actionThe Surface Transportation Board denied motions by BNSF, CSX and a shipper coalition seeking summary denial of the revised Union Pacific-Norfolk Southern merger application, letting the proceeding continue with opening comments due Nov 18, 2026.
- Key event
commodity_eventUS average diesel prices hit a record $6.45 a gallon, with $8.39 in California, up about 74% year over year and with September inventories at record lows.
executive_remarkCEO Jim Vena criticized BNSF, CPKC and CSX trackage-rights requests over a combined UP-Norfolk Southern system, including BNSF's bid for 824 miles of rights between Chicago and Pennsylvania terminals.
major_contractCEO Jim Vena defended the Canadian National haulage and trackage rights agreements reached in July, including UP access to CN's former Elgin, Joliet & Eastern bypass around Chicago and CN service over UP's St. Louis-Kansas City line and Neff Yard if the Norfolk Southern merger is approved.
- Key event
executive_remarkCEO Jim Vena said at the IANA Intermodal Expo that the UP-Norfolk Southern merger would create seven new premium intermodal lanes, convert 10,000 lanes to single-line service, add $2 billion of capacity investment and cut mostly non-union management jobs.
regulatory_actionCounty Line Railroad Interests told the STB it intends to seek approval to create the New Orleans Terminal Railroad, acquiring about 7.7 miles of Norfolk Southern's Back Belt Line and dispatching authority over 13.6 route miles including the Huey P. Long Bridge, as a UP-NS merger remedy.
regulatory_actionThe Rail Passengers Association filed comments with the STB arguing Union Pacific and Norfolk Southern failed to show a prima facie case on passenger-rail impacts and joined the motion for summary denial.
commodity_eventCFO Jennifer Hamann said at the Morgan Stanley Laguna Conference that diesel costs are running about $5.25-$5.30 a gallon versus an expected Q3 average of $4.25, pressuring the operating ratio while high fuel shifts freight from trucks to rail.
operating_metricsCEO Jim Vena said carloads were up about 5% in the quarter with industrial volume up 5.2% month to date, car velocity in the mid-230s and terminal dwell below 20 hours, while domestic intermodal could set a fifth straight quarterly record.
analyst_ratingUBS analyst Thomas Wadewitz upgraded Union Pacific to Buy from Neutral and raised the price target to $339 from $310, citing expected 2027 volume growth and intermodal growth, with the Norfolk Southern merger as upside.
peer_disclosureJ.B. Hunt warned costs have climbed faster than price increases, cutting quarterly earnings 5%-10%, with CFO Brad Delco citing a diesel spike and lagging fuel surcharges creating a $10 million Q3 cost mismatch; shares fell 12%.
executive_remarkAt a Bernstein fireside chat, CEO Jim Vena said UP expects the Norfolk Southern merger to close in Q3 or Q4 2027 and CFO Jennifer Hamann reiterated about $1.8B net revenue synergies and $1B cost synergies.