Union Pacific Corp. (NYSE:UNP) on Thursday reported better-than-expected second-quarter 2026 results.

Adjusted diluted EPS of $3.41 topped the $3.24 estimate, while operating revenue rose 12% to $6.864 billion, beating the $6.713 billion estimate.

Management said second-half demand is tracking above initial expectations, supported by industrial activity, grain, petrochemicals and domestic intermodal.

“Strong execution and volume growth enabled another successful quarter and record financial results,” said Jim Vena, Union Pacific Chief Executive Officer. “Looking ahead, we are prepared to meet increasing customer demand with best-in-class safety, service and operational excellence. Additionally, we are ready to move forward in the regulatory process and deliver the benefits of America’s first transcontinental railroad offering greater competition, better service and a stronger supply chain.”

Union Pacific shares closed at $304.33 on Thursday.

These analysts made changes to their price targets on Union Pacific following earnings announcement.

  • Wells Fargo analyst Christian Wetherbee maintained the stock with an Overweight rating and raised the price target from $315 to $335.
  • Benchmark analyst Nathan P. Martin maintained the stock with a Buy and raised the price target from $325 to $335.

Considering buying UNP stock? Here’s what analysts think:

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