Union Pacific (UNP) Revenue — Quarter Ended Mar 31, 2026
Revenue for the quarter rose compared to both the preceding quarter and the same period a year earlier. Operating cash flow also increased, supported by higher net income.
Key takeaway
Quarter ended Mar 31, 2026 · FY2026 Q1
Revenue for the quarter rose compared to both the preceding quarter and the same period a year earlier. Operating cash flow also increased, supported by higher net income.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$6.2B
Revenue reported for this quarter.
Quarter-over-quarter
+2.2%
Change from the immediately preceding quarter.
Year-over-year
+3.2%
Change from the comparable year-ago quarter.
Trailing four quarters
$24.7B
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 |
|---|---|---|
| Jun 30, 2025 | $6.2B | +2.4% |
| Sep 30, 2025 | $6.2B | +2.5% |
| Dec 31, 2025 | $6.1B | -0.6% |
| Mar 31, 2026 | $6.2B | +3.2% |
Revenue performance
Total operating revenues increased, led by growth in freight revenues. Other revenues were slightly lower.
Quarterly comparison
Sequentially, revenue improved from the prior quarter. Year over year, revenue was also higher.
What to watch
The rise in cash used for investing activities, particularly early lease buyouts, may influence future spending priorities.