Reported Earnings • Jul 24
Second quarter 2026 earnings released: EPS: US$3.36 (vs US$3.16 in 2Q 2025) Second quarter 2026 results: EPS: US$3.36 (up from US$3.16 in 2Q 2025). Revenue: US$6.86b (up 12% from 2Q 2025). Net income: US$1.99b (up 6.2% from 2Q 2025). Profit margin: 29% (down from 31% in 2Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Transportation industry in South America. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 9% per year. Valuation Update With 7 Day Price Move • Jul 22
Investor sentiment improves as stock rises 31% After last week's 31% share price gain to US$296, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 7x in the Transportation industry in South America. Total returns to shareholders of 40% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$264 per share. Duyuru • Jun 25
Union Pacific Corporation to Report Q2, 2026 Results on Jul 23, 2026 Union Pacific Corporation announced that they will report Q2, 2026 results at 7:45 AM, US Eastern Standard Time on Jul 23, 2026 New Risk • Jun 07
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: US$1.3m This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Minor Risks High level of debt (152% net debt to equity). Significant insider selling over the past 3 months (US$1.3m sold). Duyuru • Jun 04
Union Pacific Railroad Unveils Commemorative Locomotive No. 4547 And Begins First Mission Hauling Artemis III Rocket Parts Union Pacific Railroad on Tuesday unveiled its newest commemorative locomotive with Northrop Grumman and Wabtec, as No. 4547 began its first mission hauling Space Launch System solid rocket motor segments for NASA’s Artemis III lunar exploration program. Union Pacific Railroad’s newest commemorative locomotive No. 4547 begins its first mission hauling rocket parts for NASA’s Artemis III lunar exploration program. Departing from a shipping facility near Corinne, Utah, the locomotive carried components supporting NASA’s effort to explore deep space and return humanity to the moon. It was joined by No. 1616, another special commemorative locomotive that honors President Abraham Lincoln and Union Pacific’s rich history. Union Pacific CEO Jim Vena joined Utah House Speaker Mike Schultz, Utah Senate President J. Stuart Adams, and leaders from Northrop Grumman, NASA and Wabtec for a ceremony marking the shipment and christening of No. 4547, a locomotive that honors President Donald J. Trump and commemorates America’s 250th anniversary. Artemis III is planned as NASA’s second crewed mission in its Artemis lunar exploration program. The mission will test integrated operations between the Orion spacecraft and commercial landers from SpaceX and Blue Origin to lay the groundwork for future missions, including a planned lunar landing as early as 2028. Built by Wabtec, No. 4547 is the third in Union Pacific’s presidential locomotive series: No. 1616 honors President Abraham Lincoln, who founded Union Pacific in 1862, and No. 4141 recognizes President George H.W. Bush, a noted rail enthusiast. Board Change • May 20
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Tony Will was the last director to join the board, commencing their role in 2026. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Duyuru • May 16
Union Pacific Corporation Declares Second Quarter 2026 Dividend, Payable on June 30, 2026 The Board of Directors of Union Pacific Corporation (NYSE: UNP) has declared a quarterly dividend of $1.38 per share on the company’s common stock, payable June 30, 2026, to shareholders of record May 29, 2026. Board Change • Apr 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Tony Will was the last director to join the board, commencing their role in 2026. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Duyuru • Feb 06
Union Pacific Corporation Declares First Quarter 2026 Dividend, Payable on March 31, 2026 The Board of Directors of Union Pacific Corporation has declared a quarterly dividend of $1.38 per share on the company’s common stock, payable March 31, 2026, to shareholders of record Feb. 27, 2026. Duyuru • Dec 30
Union Pacific Corporation to Report Q4, 2025 Results on Jan 27, 2026 Union Pacific Corporation announced that they will report Q4, 2025 results at 7:45 AM, US Eastern Standard Time on Jan 27, 2026 Duyuru • Dec 18
Union Pacific Railroad Unveils New Industrial Park, Offering Customers Connectivity to Texas' Fastest-Growing Regions Union Pacific Railroad recently announced plans to develop the Mainline Texas Industrial Park, a master-planned, 2,000-acre industrial development just outside Houston. The park is strategically located along Union Pacific's main line with direct access to U.S. 90, Highway 36,ur 10, and Interstate 69, offering customers seamless transportation across the region's major population centers and international gateways in Laredo, Eagle Pass and El Paso. Mainline Texas Industrial Park offers 1,300 acres of rail-served land and 700 acres for non-rail industrial and commercial uses, with potential for more than 20 million square feet of Class A development. The site features rail car storage, on-site water and wastewater systems, regional drainage and access to high-capacity gas infrastructure, making it one of the state's most robust industrial offerings for customers. Duyuru • Dec 13
Union Pacific Corporation Appoints W. Anthony “Tony” Will to Board of Directors, Effective Jan. 6, 2026 Union Pacific Corporation appointed W. Anthony “Tony” Will to its Board of Directors, effective Jan. 6, 2026. Will has served as president, CEO and board member of CF Industries Holdings, a global manufacturer of hydrogen and nitrogen products, since 2014. He plans to retire Jan. 4, 2026, and will serve in an advisory role through March 15. Will joined CF Industries in 2007 as vice president, corporate development. He was promoted to vice president, manufacturing and distribution in 2009 and senior vice president, manufacturing and distribution in 2012. Before joining CF Industries, Will was a partner at Accenture LLP, a global management consulting, technology services and outsourcing company. He previously held positions at Sears, Roebuck and Company, Fort James Corporation, Boston Consulting Group and Motorola. Will has a bachelor’s degree in electrical engineering from Iowa State University and an MBA from the Kellogg School of Management at Northwestern University. Declared Dividend • Nov 24
Third quarter dividend of US$1.38 announced Shareholders will receive a dividend of US$1.38. Ex-date: 5th December 2025 Payment date: 30th December 2025 Dividend yield will be 2.4%, which is higher than the industry average of 1.9%. Sustainability & Growth Dividend is covered by both earnings (46% earnings payout ratio) and cash flows (54% cash payout ratio). The dividend has increased by an average of 9.6% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 26% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Duyuru • Nov 19
Union Pacific Corporation Declares Dividend for the Fourth Quarter of 2025, Payable on December 30, 2025 The Board of Directors of Union Pacific Corporation has declared a fourth quarter of 2025 dividend of $1.38 per share on the company’s common stock, payable December 30, 2025, to shareholders of record December 5, 2025. Duyuru • Sep 25
Union Pacific Corporation to Report Q3, 2025 Results on Oct 23, 2025 Union Pacific Corporation announced that they will report Q3, 2025 results at 7:45 AM, US Eastern Standard Time on Oct 23, 2025 Duyuru • Aug 15
Union Pacific Corporation, Annual General Meeting, Oct 08, 2025 Union Pacific Corporation, Annual General Meeting, Oct 08, 2025. Duyuru • Aug 07
Union Pacific Launches New Truck-Competitive Domestic Service from Los Angeles to Chicago Union Pacific Railroad will launch a new, truck-competitive domestic intermodal service connecting Southern California’s Inland Empire to the heart of Chicago, significantly boosting intermodal capacity. Beginning Sept. 3, this innovative service enhances the seamless connection from the Los Angeles Basin's most active warehouse district through Union Pacific’s Inland Empire Intermodal Terminal (IEIT) directly to Chicago's Global 2 Intermodal Terminal. Customers will experience up to 20% faster intermodal service compared to current industry offerings between these key locations, with three days' transit. The service will start at five days a week with the ability to increase with growth. This new offering is part of Union Pacific’s Z train network, providing the fastest delivery of time-sensitive freight. Visit UP.com for intermodal schedules. Duyuru • Jul 30
Union Pacific Corporation and Norfolk Southern Corporation Appoints Jim Vena as Chief Executive Officer of Combined Company Union Pacific Corporation and Norfolk Southern Corporation announced an agreement to create America’s first transcontinental railroad. These legendary companies will seamlessly connect over 50,000 route miles across 43 states from the East Coast to the West Coast, linking approximately 100 ports and nearly every corner of North America. This combination will transform the U.S. supply chain, unleash the industrial strength of American manufacturing, and create new sources of economic growth and workforce opportunity that preserves union jobs. Jim Vena, Union Pacific CEO, will lead the combined company as Chief Executive Officer and has committed his intent to remain at Union Pacific for at least the next 5 years. Through integration and beyond, talented leaders from both companies will work together to deliver on the combination’s full value creation potential. The experienced Union Pacific and Norfolk Southern management teams will continue to independently run each company until the transaction’s closing. At closing, three Norfolk Southern Directors, including Mark George and Richard Anderson, are expected to join the Union Pacific Board of Directors after completing the corporate governance process. Duyuru • Jul 25
Union Pacific Nears Norfolk Deal to Create $200 Billion Railroad Union Pacific Corporation (NYSE:UNP), North America’s largest railroad, is in advanced discussions with Norfolk Southern Corporation (NYSE:NSC) about a potential tie-up in what would be the industry’s largest deal ever. Union Pacific has a market value of about $135 billion, more than twice the size of Norfolk Southern’s $64 billion. Combining the two would transform the North American rail market, marrying Union Pacific’s network across the western US with Norfolk’s East Coast routes. It would also require regulatory approval, and heap competitive pressure on rivals including CSX Corp. and Berkshire Hathaway Inc.’s BNSF. Union Pacific shares fell 1.8% at 10:40 a.m. on July 24, 2025 in New York, while Norfolk Southern’s rose 0.9%. A statement confirming the talks was released as Union Pacific’s second-quarter earnings call was underway. “We’ve done a lot of homework to get us to this place,” Union Pacific Chief Executive Officer Jim Vena said on July 24, 2025 on the earnings call. He declined to comment further on the merger, saying “only a fool” would expect that in the middle of discussions. Historically rail mergers have been difficult to consummate given the inhospitable regulatory environment. However one of the Trump administration’s earliest moves was to elevate Patrick Fuchs to chair the Surface Transportation Board. Fuchs, who joined the board in 2019 during President Donald Trump’s first term, is seen as a proponent of industry consolidation. Duyuru • Jul 18
Union Pacific, Norfolk Southern Reportedly Discuss Merger to Create Transcontinental Railroad Union Pacific Corporation (NYSE:UNP) and Norfolk Southern Corporation (NYSE:NSC) are in merger talks to create the largest railroad in North America that would connect the East and West Coasts. The merger discussions began during the first quarter of this year, according to a person familiar with the talks who isn't authorized to discuss them publicly. It would combine the largest and smallest of the country's six major freight railroads. Both railroads declined to comment. Within the industry there is widespread debate over whether such a merger would be approved by the Surface Transportation Board even though those regulators approved the deal that created CPKC railroad two years ago with the Canadian Pacific's $31 billion acquisition of Kansas City Southern railroad. That merger combined the two smallest major railroads in North America and left only six major freight railroads. But it was the first major rail merger approved in more than two decades. The bar for railroad mergers in the U.S. was raised substantially at the start of the century after a disastrous combination of Union Pacific and Southern Pacific in 1996 that snarled rail traffic for an extended period, followed by the 1999 split of Conrail between Norfolk Southern and CSX, which created backups in the East. Union Pacific CEO Jim Vena talked earlier this year about the potential benefits of such a merger because it would streamline deliveries all across the country by eliminating the delays that come along with one railroad handing shipments over to another. Plus it would simplify shipping for the companies that rely on railroads to deliver their raw materials and finished products. But in the past, shippers have raised concerns about the consequences of being left with even fewer options to ship their goods because the major railroads are already so powerful. Some investors have long argued that the industry should eventually consolidate down to two East-West railroads crossing the United States and one railroad in Canada. But regulators have been skeptical and taken a cautious approach. Any proposed deal would face a lengthy STB review. That board is currently evenly split between two Republicans and two Democrats with one seat open. Duyuru • Jul 17
Union Pacific Corporation Announces Dividend Increase for Third Quarter 2025, Payable on September 30, 2025 Union Pacific Corporation announced that its Board of Directors voted to increase the quarterly dividend on the Company’s common shares by 3% to $1.38 per share. The dividend is payable September 30, 2025, to shareholders of record August 29, 2025. Union Pacific has paid dividends on its common stock for 126 consecutive years. Duyuru • Jun 26
Union Pacific Corporation to Report Q2, 2025 Results on Jul 24, 2025 Union Pacific Corporation announced that they will report Q2, 2025 results at 7:45 AM, US Eastern Standard Time on Jul 24, 2025 Duyuru • Mar 27
Union Pacific Corporation to Report Q1, 2025 Results on Apr 24, 2025 Union Pacific Corporation announced that they will report Q1, 2025 results at 7:45 AM, US Eastern Standard Time on Apr 24, 2025 Duyuru • Mar 26
Union Pacific Corporation, Annual General Meeting, May 08, 2025 Union Pacific Corporation, Annual General Meeting, May 08, 2025. Duyuru • Feb 07
Union Pacific Corporation Declares First Quarter 2025 Dividend, Payable on March 31, 2025 The Board of Directors of Union Pacific Corporation has declared a quarterly dividend of $1.34 per share on the company’s common stock, payable March 31, 2025, to shareholders of record February 28, 2025. Duyuru • Jan 23
Union Pacific Corporation Reaffirms Earnings Guidance for the Year 2025 Union Pacific Corporation reaffirmed earnings guidance for the year 2025. Earnings per share growth consistent with attaining the 3-year CAGR target of high-single to low-double digit. Board Change • Dec 24
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director John Tien was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Duyuru • Dec 19
Union Pacific Corporation to Report Q4, 2024 Results on Jan 23, 2025 Union Pacific Corporation announced that they will report Q4, 2024 results at 7:45 AM, US Eastern Standard Time on Jan 23, 2025 Duyuru • Nov 28
Union Pacific Corporation Declares Dividend for the Fourth Quarter 2024, Payable on December 30, 2024 The Board of Directors of Union Pacific Corporation has declared a quarterly dividend of $1.34 per share on the company’s common stock, payable December 30, 2024, to shareholders of record December 9, 2024. Reported Earnings • Oct 25
Third quarter 2024 earnings released: EPS: US$2.75 (vs US$2.51 in 3Q 2023) Third quarter 2024 results: EPS: US$2.75 (up from US$2.51 in 3Q 2023). Revenue: US$6.09b (up 2.5% from 3Q 2023). Net income: US$1.67b (up 9.4% from 3Q 2023). Profit margin: 27% (up from 26% in 3Q 2023). Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Transportation industry in South America. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has remained flat. Duyuru • Sep 26
Union Pacific Corporation to Report Q3, 2024 Results on Oct 24, 2024 Union Pacific Corporation announced that they will report Q3, 2024 results at 7:45 AM, Eastern Standard Time on Oct 24, 2024 Upcoming Dividend • Aug 23
Upcoming dividend of US$1.34 per share Eligible shareholders must have bought the stock before 30 August 2024. Payment date: 30 September 2024. Payout ratio is a comfortable 49% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of Chilean dividend payers (9.5%). Lower than average of industry peers (3.4%). Reported Earnings • Jul 26
Second quarter 2024 earnings released: EPS: US$2.75 (vs US$2.58 in 2Q 2023) Second quarter 2024 results: EPS: US$2.75 (up from US$2.58 in 2Q 2023). Revenue: US$6.01b (flat on 2Q 2023). Net income: US$1.67b (up 6.6% from 2Q 2023). Profit margin: 28% (up from 26% in 2Q 2023). Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Transportation industry in South America. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 1% per year. Declared Dividend • Jul 21
First quarter dividend increased to US$1.34 Dividend of US$1.34 is 3.1% higher than last year. Ex-date: 30th August 2024 Payment date: 30th September 2024 Dividend yield will be 2.3%, which is higher than the industry average of 1.9%. Sustainability & Growth Dividend is covered by both earnings (50% earnings payout ratio) and cash flows (63% cash payout ratio). The dividend has increased by an average of 13% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 35% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Duyuru • Jul 18
Union Pacific Corporation Declares Third Quarter 2024 Dividend, Payable on September 30, 2024 Union Pacific Corporation announced that its Board of Directors voted to increase the quarterly dividend on the Company’s common shares by 3% to $1.34 per share. The dividend is payable September 30, 2024, to shareholders of record August 30, 2024. Duyuru • Jun 28
Union Pacific Corporation to Report Q2, 2024 Results on Jul 25, 2024 Union Pacific Corporation announced that they will report Q2, 2024 results at 7:45 AM, US Eastern Standard Time on Jul 25, 2024 Upcoming Dividend • May 26
Upcoming dividend of US$1.30 per share Eligible shareholders must have bought the stock before 31 May 2024. Payment date: 28 June 2024. Payout ratio is a comfortable 50% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of Chilean dividend payers (9.9%). Lower than average of industry peers (3.4%). Declared Dividend • May 12
First quarter dividend of US$1.30 announced Dividend of US$1.30 is the same as last year. Ex-date: 31st May 2024 Payment date: 28th June 2024 Dividend yield will be 2.3%, which is higher than the industry average of 1.9%. Sustainability & Growth Dividend is covered by both earnings (50% earnings payout ratio) and cash flows (63% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 33% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Duyuru • May 11
Union Pacific Corporation Declares Second Quarter 2024 Dividend, Payable on June 28, 2024 The Board of Directors of Union Pacific Corporation has declared a quarterly dividend of $1.30 per share on the company’s common stock, payable June 28, 2024, to shareholders of record May 31, 2024. Reported Earnings • Apr 26
First quarter 2024 earnings released: EPS: US$2.69 (vs US$2.67 in 1Q 2023) First quarter 2024 results: EPS: US$2.69 (up from US$2.67 in 1Q 2023). Revenue: US$6.03b (flat on 1Q 2023). Net income: US$1.64b (flat on 1Q 2023). Profit margin: 27% (in line with 1Q 2023). Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Transportation industry in South America. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Duyuru • Mar 29
Union Pacific Corporation to Report Q1, 2024 Results on Apr 25, 2024 Union Pacific Corporation announced that they will report Q1, 2024 results at 7:45 AM, US Eastern Standard Time on Apr 25, 2024 Duyuru • Mar 27
Union Pacific Corporation, Annual General Meeting, May 09, 2024 Union Pacific Corporation, Annual General Meeting, May 09, 2024, at 08:00 Central Daylight. Agenda: To elect the twelve directors named in the Proxy Statement, each to serve for a term of one year or until his or her successor is elected and qualified; to ratify the appointment of Deloitte & Touche LLP as the independent registered public accounting firm of the Company for 2024; to approve, by non-binding vote, the compensation of the Company's Named Executive Officers; to consider and vote upon two shareholder proposals if properly presented at the Annual Meeting; and to transact such other businesses as may properly come before the Annual Meeting. Upcoming Dividend • Feb 21
Upcoming dividend of US$1.30 per share Eligible shareholders must have bought the stock before 28 February 2024. Payment date: 29 March 2024. Payout ratio is a comfortable 50% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of Chilean dividend payers (12%). Lower than average of industry peers (3.0%). Declared Dividend • Feb 11
Fourth quarter dividend of US$1.30 announced Dividend of US$1.30 is the same as last year. Ex-date: 28th February 2024 Payment date: 29th March 2024 Dividend yield will be 2.3%, which is higher than the industry average of 1.9%. Sustainability & Growth Dividend is covered by both earnings (50% earnings payout ratio) and cash flows (66% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 33% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Duyuru • Feb 09
Union Pacific Corporation Declares First Quarter 2024 Dividend, Payable on Mar. 29, 2024 The Board of Directors of Union Pacific Corporation has declared a quarterly dividend of $1.30 per share on the company's common stock, payable Mar. 29, 2024, to shareholders of record Feb. 29, 2024. Reported Earnings • Jan 26
Full year 2023 earnings released: EPS: US$10.47 (vs US$11.24 in FY 2022) Full year 2023 results: EPS: US$10.47 (down from US$11.24 in FY 2022). Revenue: US$24.1b (down 3.0% from FY 2022). Net income: US$6.38b (down 8.8% from FY 2022). Profit margin: 26% (down from 28% in FY 2022). Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Transportation industry in South America. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Duyuru • Nov 29
Union Pacific Corporation Declares Fourth Quarter 2023 Dividend, Payable on December 28, 2023 The Board of Directors of Union Pacific Corporation has declared a quarterly dividend of $1.30 per share on the company's common stock, payable December 28, 2023, to shareholders of record December 8, 2023. Reported Earnings • Oct 21
Third quarter 2023 earnings released: EPS: US$2.51 (vs US$3.05 in 3Q 2022) Third quarter 2023 results: EPS: US$2.51 (down from US$3.05 in 3Q 2022). Revenue: US$5.94b (down 9.5% from 3Q 2022). Net income: US$1.53b (down 19% from 3Q 2022). Profit margin: 26% (down from 29% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Transportation industry in South America. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Duyuru • Oct 20
Union Pacific Corporation Provides Volume Guidance for the Full Year of 2023 Union Pacific Corporation provided volume guidance for the full year of 2023. The company expects, year to date softness in consumer-related volumes likely drive full year volume expectations below Industrial Production (Current forecast: 0.0%). Duyuru • Sep 22
Union Pacific Corporation to Report Q3, 2023 Results on Oct 19, 2023 Union Pacific Corporation announced that they will report Q3, 2023 results at 7:45 AM, US Eastern Standard Time on Oct 19, 2023 Board Change • Sep 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. CEO & Director Jim Vena was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Aug 23
Upcoming dividend of US$1.30 per share at 2.3% yield Eligible shareholders must have bought the stock before 30 August 2023. Payment date: 29 September 2023. Payout ratio is a comfortable 47% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of Chilean dividend payers (13%). In line with average of industry peers (2.4%). Duyuru • Jul 27
Union Pacific Corporation Declares Quarterly Dividend on the Common Stock, Payable September 29, 2023 The Board of Directors of Union Pacific Corporation has declared a quarterly dividend of $1.30 per share on the company's common stock, payable September 29, 2023, to shareholders of record August 31, 2023. Reported Earnings • Jul 27
Second quarter 2023 earnings released: EPS: US$2.58 (vs US$2.93 in 2Q 2022) Second quarter 2023 results: EPS: US$2.58 (down from US$2.93 in 2Q 2022). Revenue: US$5.96b (down 4.9% from 2Q 2022). Net income: US$1.57b (down 14% from 2Q 2022). Profit margin: 26% (down from 29% in 2Q 2022). Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Transportation industry in South America. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Duyuru • Jun 23
Union Pacific Corporation to Report Q2, 2023 Results on Jul 26, 2023 Union Pacific Corporation announced that they will report Q2, 2023 results at 7:45 AM, US Eastern Standard Time on Jul 26, 2023 Upcoming Dividend • May 23
Upcoming dividend of US$1.30 per share at 2.6% yield Eligible shareholders must have bought the stock before 30 May 2023. Payment date: 30 June 2023. Payout ratio is a comfortable 46% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of Chilean dividend payers (13%). Higher than average of industry peers (2.3%). Reported Earnings • Apr 21
First quarter 2023 earnings released: EPS: US$2.67 (vs US$2.58 in 1Q 2022) First quarter 2023 results: EPS: US$2.67 (up from US$2.58 in 1Q 2022). Revenue: US$6.06b (up 3.3% from 1Q 2022). Net income: US$1.63b (flat on 1Q 2022). Profit margin: 27% (in line with 1Q 2022). Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Transportation industry in South America. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Feb 20
Upcoming dividend of US$1.30 per share at 2.6% yield Eligible shareholders must have bought the stock before 27 February 2023. Payment date: 31 March 2023. Payout ratio is a comfortable 45% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of Chilean dividend payers (12%). Higher than average of industry peers (2.1%). Duyuru • Feb 10
Union Pacific Corporation Declares Dividend for the First Quarter 2023, Payable on March 31, 2023 The Board of Directors of Union Pacific Corporation has declared a quarterly dividend of $1.30 per share on the company's common stock, payable March 31, 2023, to shareholders of record February 28, 2023. Duyuru • Jan 25
Union Pacific Corporation Provides Earnings Guidance for the Year 2023 Union Pacific Corporation provided earnings guidance for the year 2023. for the year, the company expects carloads to exceed Industrial Production (Current Industrial Production forecast: -0.5%) and operating ratio improvement. Reported Earnings • Jan 25
Full year 2022 earnings released: EPS: US$11.24 (vs US$9.98 in FY 2021) Full year 2022 results: EPS: US$11.24 (up from US$9.98 in FY 2021). Revenue: US$24.9b (up 14% from FY 2021). Net income: US$7.00b (up 7.3% from FY 2021). Profit margin: 28% (down from 30% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 24% growth forecast for the Transportation industry in South America. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 11% per year. Duyuru • Dec 14
Union Pacific Corporation to Report Q4, 2022 Results on Jan 24, 2023 Union Pacific Corporation announced that they will report Q4, 2022 results at 7:45 AM, US Eastern Standard Time on Jan 24, 2023 Reported Earnings • Oct 21
Third quarter 2022 earnings released: EPS: US$3.05 (vs US$2.58 in 3Q 2021) Third quarter 2022 results: EPS: US$3.05 (up from US$2.58 in 3Q 2021). Revenue: US$6.57b (up 18% from 3Q 2021). Net income: US$1.90b (up 13% from 3Q 2021). Profit margin: 29% (down from 30% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Transportation industry in South America. Over the last 3 years on average, earnings per share has increased by 11% per year and the company’s share price has also increased by 11% per year. Upcoming Dividend • Aug 23
Upcoming dividend of US$1.30 per share Eligible shareholders must have bought the stock before 30 August 2022. Payment date: 30 September 2022. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of Chilean dividend payers (14%). In line with average of industry peers (2.4%). Reported Earnings • Jul 22
Second quarter 2022 earnings released: EPS: US$2.93 (vs US$2.73 in 2Q 2021) Second quarter 2022 results: EPS: US$2.93 (up from US$2.73 in 2Q 2021). Revenue: US$6.27b (up 14% from 2Q 2021). Net income: US$1.84b (up 2.1% from 2Q 2021). Profit margin: 29% (down from 33% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 6.9%, compared to a 106% growth forecast for the industry in Chile. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 11% per year. Reported Earnings • Apr 27
First quarter 2022 earnings released: EPS: US$2.58 (vs US$2.01 in 1Q 2021) First quarter 2022 results: EPS: US$2.58 (up from US$2.01 in 1Q 2021). Revenue: US$5.86b (up 17% from 1Q 2021). Net income: US$1.63b (up 22% from 1Q 2021). Profit margin: 28% (up from 27% in 1Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 9.0%, compared to a 30% growth forecast for the industry in Chile. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 11% per year. Reported Earnings • Apr 22
First quarter 2022 earnings released: EPS: US$2.58 (vs US$2.01 in 1Q 2021) First quarter 2022 results: EPS: US$2.58 (up from US$2.01 in 1Q 2021). Revenue: US$5.86b (up 17% from 1Q 2021). Net income: US$1.63b (up 22% from 1Q 2021). Profit margin: 28% (up from 27% in 1Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 8.6%, compared to a 31% growth forecast for the industry in Chile. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 11% per year. Upcoming Dividend • Feb 18
Upcoming dividend of US$1.18 per share Eligible shareholders must have bought the stock before 25 February 2022. Payment date: 31 March 2022. Payout ratio is a comfortable 43% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of Chilean dividend payers (9.8%). Lower than average of industry peers (2.6%). Reported Earnings • Jan 21
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: US$9.98 (up from US$7.90 in FY 2020). Revenue: US$21.8b (up 12% from FY 2020). Net income: US$6.52b (up 22% from FY 2020). Profit margin: 30% (up from 27% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 8.0%, compared to a 27% growth forecast for the industry in Chile. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Oct 23
Third quarter 2021 earnings released: EPS US$2.58 (vs US$2.02 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$5.57b (up 13% from 3Q 2020). Net income: US$1.67b (up 23% from 3Q 2020). Profit margin: 30% (up from 28% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 27% per year, which means it is well ahead of earnings. Board Change • Oct 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. 3 highly experienced directors. Independent Director Chris Williams was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Aug 23
Upcoming dividend of US$1.07 per share Eligible shareholders must have bought the stock before 30 August 2021. Payment date: 30 September 2021. Trailing yield: 1.9%. Lower than top quartile of Chilean dividend payers (7.4%). In line with average of industry peers (1.8%). Reported Earnings • Jul 25
Second quarter 2021 earnings released: EPS US$2.73 (vs US$1.67 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: US$5.50b (up 30% from 2Q 2020). Net income: US$1.80b (up 59% from 2Q 2020). Profit margin: 33% (up from 27% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 26% per year, which means it is well ahead of earnings. Executive Departure • Jul 01
Senior Advisor Vincenzo Vena has left the company On the 30th of June, Vincenzo Vena's tenure as Senior Advisor ended after less than a year in the role. As of March 2021, Vincenzo still personally held 18.79k shares (US$4.1m worth at the time). A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 2.13 years. Executive Departure • May 21
Independent Director has left the company On the 13th of May, Bhavesh Patel's tenure as Independent Director ended after 3.8 years in the role. As of March 2021, Bhavesh personally held 4.27k shares (US$926k worth at the time). Bhavesh is the only executive to leave the company over the last 12 months. Upcoming Dividend • May 21
Upcoming dividend of US$1.07 per share Eligible shareholders must have bought the stock before 27 May 2021. Payment date: 30 June 2021. Trailing yield: 1.9%. Lower than top quartile of Chilean dividend payers (6.0%). Higher than average of industry peers (1.7%). Reported Earnings • Apr 25
First quarter 2021 earnings released: EPS US$2.01 (vs US$2.15 in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: US$5.00b (down 4.4% from 1Q 2020). Net income: US$1.34b (down 9.0% from 1Q 2020). Profit margin: 27% (down from 28% in 1Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 26% per year, which means it is well ahead of earnings. Reported Earnings • Feb 09
Full year 2020 earnings released: EPS US$7.90 (vs US$8.41 in FY 2019) The company reported a poor full year result with weaker earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: US$19.5b (down 10.0% from FY 2019). Net income: US$5.35b (down 9.6% from FY 2019). Profit margin: 27% (in line with FY 2019). Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has increased by 25% per year, which means it is well ahead of earnings. Analyst Estimate Surprise Post Earnings • Feb 09
Revenue beats expectations Revenue exceeded analyst estimates by 0.2%. Over the next year, revenue is forecast to grow 7.4%, compared to a 18% growth forecast for the Transportation industry in Chile. Reported Earnings • Jan 23
Full year 2020 earnings released: EPS US$7.90 The company reported a poor full year result with weaker earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: US$19.5b (down 10.0% from FY 2019). Net income: US$5.35b (down 9.6% from FY 2019). Profit margin: 27% (in line with FY 2019). Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has increased by 25% per year, which means it is well ahead of earnings. Analyst Estimate Surprise Post Earnings • Jan 23
Revenue beats expectations Revenue exceeded analyst estimates by 0.2%. Over the next year, revenue is forecast to grow 7.9%, compared to a 16% growth forecast for the Transportation industry in Chile. Is New 90 Day High Low • Jan 14
New 90-day high: US$217 The company is up 17% from its price of US$185 on 15 October 2020. The Chilean market is also up 17% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Transportation industry, which is up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$155 per share. Valuation Update With 7 Day Price Move • Jan 14
Investor sentiment improved over the past week After last week's 17% share price gain to US$217, the stock is trading at a trailing P/E ratio of 27.8x, up from the previous P/E ratio of 23.7x. This compares to an average P/E of 39x in the Transportation industry in South America. Total returns to shareholders over the past three years are 113%. Reported Earnings • Oct 24
Third quarter earnings released Over the last 12 months the company has reported total profits of US$5.37b, down 12% from the prior year. Total revenue was US$19.6b over the last 12 months, down 12% from the prior year. Analyst Estimate Surprise Post Earnings • Oct 24
Third-quarter earnings released: Revenue misses expectations Third-quarter revenue missed analyst estimates by 0.9% at US$4.92b. Revenue is forecast to grow 5.0% over the next year, compared to a 15% growth forecast for the Transportation industry in Chile. 
