Union Pacific

Union Pacific and Norfolk Southern have supplemented their merger filing with the Surface Transportation Board with expanded customer-protection measures. They double the number of qualifying movements under the "Committed Gateway Pricing" program and extend benefits to shippers of bulk-commodity unit trains. The companies promise preservation of access options (e.g., reduction from three to two providers) as well as service-level protections including temporary access to alternative services and a rate-relief procedure if merger benefits do not materialize promptly. With the filing they satisfied additional information requests from the board and are targeting closing the transaction in mid-2027. » More on de.investing.com

Union Pacific reported stronger-than-expected Q2 results with operating revenue of $6.9 billion, adjusted EPS of $3.41 and a 10 basis point improvement in operating ratio to 59.2%, driven by freight and intermodal volume growth. Management raised its 2026 outlook, projecting high single-digit reported EPS growth and showing higher revenue and EBITDA forward growth rates than Norfolk Southern. Norfolk Southern’s outlook is now largely tied to the proposed merger with Union Pacific, making NSC an event-driven, higher-risk opportunity relative to UNP’s standalone operational strength. » More on finance.yahoo.com

Union Pacific reported adjusted EPS of $3.41 and revenue of about $6.9 billion, both above analysts' expectations, and raised its full-year outlook to high-single-digit EPS growth. The company confirmed targets for pricing above inflation, an improved operating ratio and a $3.3 billion capital program. Two memoranda of understanding with Canadian National expand reciprocal network rights and secure that CN will not legally challenge the merger with Norfolk Southern, reducing a key regulatory hurdle. » More on de.investing.com