Union Pacific (UNP) Revenue — Quarter Ended Dec 31, 2025
Revenue declined in the quarter, driven by lower volumes. Compared with the prior quarter, revenue was down, and also decreased versus the same quarter last year.
Key takeaway
Quarter ended Dec 31, 2025 · FY2025 Q4
Revenue declined in the quarter, driven by lower volumes. Compared with the prior quarter, revenue was down, and also decreased versus the same quarter last year.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$6.1B
Revenue reported for this quarter.
Quarter-over-quarter
-2.5%
Change from the immediately preceding quarter.
Year-over-year
-0.6%
Change from the comparable year-ago quarter.
Trailing four quarters
$24.5B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Mar 31, 2025 | $6B | -0.1% |
| Jun 30, 2025 | $6.2B | +2.4% |
| Sep 30, 2025 | $6.2B | +2.5% |
| Dec 31, 2025 | $6.1B | -0.6% |
Revenue performance
The reported revenue reflects a sequential decline from the preceding quarter, continuing a pattern of mixed quarterly results. Full-year trailing revenue was modestly higher than the prior year.
Quarterly comparison
Revenue fell compared to both the immediately preceding quarter and the same quarter one year earlier. The decline from the prior quarter is the first sequential drop after two quarters of growth. Year-over-year, revenue was slightly lower.
What to watch
Monitor whether the sequential revenue decline signals a broader demand slowdown or is a temporary fluctuation.