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Union Pacific Railroad Company, the principal operating company of Union Pacific Corporation, operates a Class I railroad in the U.S., connecting 23 states in the western two-thirds of the country. The company provides a critical link in the global supply chain, serving major U.S. population centers and ports, and connecting with Canadian and Mexican rail systems . Union Pacific's business is diversified into three main commodity groups: Bulk, Industrial, and Premium, which collectively support the transportation of a wide range of goods across North America .
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Industrial - Facilitates the movement of industrial chemicals, plastics, metals and minerals, forest products, and energy and specialized markets across North America, driven by infrastructure investments and manufacturing needs.
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Bulk - Manages shipments of grain and grain products, fertilizer, food and refrigerated items, coal, and renewables, serving major grain markets and supporting coal transportation to power companies and industrial facilities.
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Premium - Handles finished automobiles, automotive parts, and merchandise in intermodal containers, being the largest automotive carrier west of the Mississippi River and supporting both domestic and international intermodal traffic.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
V. James Vena ExecutiveBoard | Chief Executive Officer | Board Member at FedEx Corp. | V. James Vena became CEO on August 14, 2023. Previously served as COO of UNP (2019-2021) and EVP/COO at Canadian National Railway. Brings decades of operational leadership experience. | View Report → |
Craig V. Richardson Executive | EVP, Chief Legal Officer & Corporate Sec. | None | Craig Richardson has been EVP, Chief Legal Officer, and Corporate Secretary since December 8, 2020. Previously served as VP - Commercial and Regulatory Law at UNP. | |
Elizabeth F. Whited Executive | President | Board Member at RPM International Inc. | Elizabeth Whited became President on August 14, 2023. She has been with UNP for over 35 years, holding roles such as EVP - Sustainability and Strategy and EVP/CHRO. | |
Eric J. Gehringer Executive | EVP - Operations | None | Eric Gehringer has been EVP - Operations since January 1, 2021. Previously served as SVP - Transportation and VP - Mechanical & Engineering at UNP. | |
Jennifer L. Hamann Executive | EVP & Chief Financial Officer | None | Jennifer Hamann has been CFO since at least 2023. She has held various leadership roles at UNP, including EVP - Sustainability and Strategy and EVP/CHRO. | |
Kenny G. Rocker Executive | EVP - Marketing and Sales | None | Kenny Rocker has been EVP - Marketing and Sales since August 15, 2018. Previously served as VP - Marketing and Sales - Industrial team at UNP. | |
Rahul Jalali Executive | EVP & Chief Information Officer | None | Rahul Jalali became EVP & CIO on June 1, 2023. He has led advancements in AI, machine learning, and data analytics at UNP, including implementing a microservices-based architecture. | |
Todd M. Rynaski Executive | SVP & Chief Accounting, Risk, and Compliance Officer | None | Todd Rynaski became SVP & Chief Accounting, Risk, and Compliance Officer on July 1, 2022. Previously served as VP and Controller at UNP. | |
Christopher J. Williams Board | Director | Director at Ameriprise Financial and The Clorox Company | Christopher Williams has been a director since 2019. Founder and former CEO of Williams Capital, with expertise in investment banking and finance. | |
David B. Dillon Board | Director | Board Member at 3M Company | David Dillon has been a director since 2014. Former CEO and Chairman of Kroger Co., with expertise in governance, risk management, and operations. | |
Deborah C. Hopkins Board | Director | Board Member at Bridge Investment Group Holdings Inc. and Marsh and McLennan Companies | Deborah Hopkins has been a director since 2017. Former CEO of Citi Ventures and Chief Innovation Officer at Citigroup, with expertise in finance, innovation, and risk management. | |
Doyle R. Simons Board | Director | Lead Independent Director at Fiserv, Inc.; Director at Iron Mountain Incorporated | Doyle Simons joined the board on July 26, 2023. Former CEO of Weyerhaeuser Company and Temple-Inland, with expertise in customer relationships, safety, and operational performance. | |
Jane H. Lute Board | Director | Strategic Advisor at SICPA, North America; Director at Shell plc and Marsh and McLennan Companies | Jane Lute has been a director since 2016. Former Deputy Secretary of Homeland Security and CEO of the Center for Internet Security, with expertise in cybersecurity and risk management. | |
John K. Tien, Jr. Board | Director | None | John Tien joined the board on December 14, 2023. Former Deputy Secretary of Homeland Security and senior executive at Citigroup, with expertise in operations, technology, and risk management. | |
John P. Wiehoff Board | Director | Lead Independent Director at Polaris Inc.; Director at U.S. Bancorp | John Wiehoff joined the board on July 26, 2023. Former CEO of C.H. Robinson Worldwide, with expertise in logistics, finance, and risk management. | |
Michael R. McCarthy Board | Independent Chairperson of the Board | Chairman and Co-Founder of McCarthy Group, LLC; Co-Chairman of Bridges Trust Company | Michael McCarthy has been a director since 2008 and became Independent Chairperson on August 14, 2023. He has extensive experience in governance, finance, and risk management. | |
Sheri H. Edison Board | Director | Board Member at Cardinal Health, Inc. | Sheri Edison has been a director since 2021. Former EVP and General Counsel at Amcor plc, with expertise in legal, regulatory, and risk management. | |
Teresa M. Finley Board | Director | Board Member at TriMas Corporation, Pilot Freight Services, and Assurance America Corporation | Teresa Finley has been a director since February 4, 2022. Former Chief Marketing and Business Services Officer at UPS, with expertise in logistics, finance, and strategy. | |
William J. DeLaney Board | Director | Board Member at The Cigna Group | William DeLaney has been a director since 2018. Former CEO of Sysco Corporation, with extensive experience in finance and operations. |
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Given the unexpected 33% surge in international intermodal volumes and its impact on network velocity, what specific measures are you implementing to proactively manage sudden volume increases in the future to maintain service levels and operational efficiency?
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Despite the improvements in workforce and locomotive productivity this year, do you anticipate achieving similar mid-single-digit productivity gains next year in a potentially flat volume environment, and what specific initiatives will drive these improvements?
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With the decline in coal volumes due to high inventory levels and low natural gas prices, how are you strategizing to offset the reduction in coal revenue, and how do you plan to diversify your commodity mix to mitigate such risks?
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Intermodal train speeds have been reported at their lowest levels, and there are concerns about dwell times at West Coast ports; how do you reconcile these operational challenges with your claims of improved service performance, and what steps are you taking to address these issues?
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Considering the ongoing inflationary pressures and the labor challenges you've mentioned, can you provide a clearer timeline on when you expect to overcome these hurdles, and should we anticipate a gradual improvement or a significant change in operating ratios and profitability in the near term?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
Burlington Northern Santa Fe LLC | Its primary subsidiary, BNSF Railway Company (BNSF), operates parallel routes in many of our main traffic corridors. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Small trucking & transload operator and related real estate assets | 2023 | No specific details regarding deal value, structure, key capabilities, or notable terms were provided; however, this acquisition is part of a broader strategy to drive value and growth through small acquisitions including transload facilities. |
Recent press releases and 8-K filings for UNP.
- Union Pacific reaffirmed its 2025 outlook and detailed forward-looking performance data with improvements in service delivery and key operational efficiency metrics, targeting high-single to low-double digit EPS CAGR over three years .
- The company emphasized its robust capital allocation strategy with a $1.7 billion share repurchase executed in Q1, a target of $4–$4.5 billion for the year, and a capital plan of $3.4 billion .
- Union Pacific addressed a near-term intermodal "air pocket" impact and emphasized adjustments amid tariff changes, underscoring its operational resilience .
- The call highlighted progress in adopting advanced inspection and remote operations technologies through new FRA waivers, supporting long-term operational improvements .
- Management noted a 7% headcount reduction (approximately 2,000 fewer employees) alongside active union negotiations to enhance productivity .
- Comprehensive Strategy: Union Pacific emphasized a strategy built on safety, operational excellence, and pricing discipline to drive growth over the next three years, with planned annual capital investments of $3.4–3.7 billion and share repurchases of $4–5 billion.
- Freight Mix and Volume Dynamics: The company reported strong first quarter volume growth (up 7% YoY) while noting potential near-term volatility in international intermodal volumes due to tariff impacts, balanced by a diverse freight mix.
- Investment in Nearshoring and Technology: Union Pacific highlighted its 26% stake in FXE in Mexico to capture nearshoring benefits and outlined early-stage efforts in adaptive planning and digital enhancements to boost operational efficiency.
- Union Pacific reported strong Q1 2025 earnings with EPS of $2.70, operating income of $2.4B, and net income of $1.6B; performance remained in line with prior periods .
- The company achieved operating revenue of $6B and freight revenue of $5.7B, reflecting 1% growth with record pricing in 10 years, even as a 7% fuel headwind was offset by a 7% increase in carloads .
- Record freight revenue was driven by robust volume growth and favorable pricing gains, further supported by a 6% increase in freight car velocity and a 9% boost in workforce productivity .
- Strong cash metrics were highlighted with $2.2B in cash from operations and $2.5B returned to shareholders through share buybacks, while managing a 2.8x adjusted debt-to-EBITDA ratio .
- Management emphasized sustained pricing strength and adaptive operational strategies to navigate market mix challenges and trade uncertainties, maintaining focus on safety, service, and operational excellence .
- Volume, EPS, and productivity improvements were highlighted with 3% volume growth, 6% EPS increase, and notable operational metric gains such as a 7% improvement in freight car velocity, underscoring the strength of UP’s core franchise.
- Advanced technology initiatives such as adaptive transportation planning and a new terminal command center were discussed as key drivers to boost productivity and service reliability.
- Market and tariff uncertainties were addressed, with specific concerns over the automotive, lumber, and agricultural segments due to potential tariff impacts, stressing the need for agile network planning.
- Capital investment and pipeline opportunities were emphasized with a robust project pipeline worth approximately $1.5 billion, showcasing a focus on capital-efficient, brownfield development and fleet modernization.
- Union Pacific Corp presented at the J.P. Morgan Industrials Conference 2025, outlining its strategic focus and forward-looking initiatives.
- The presentation highlighted Q1 AAR volume performance with Bulk volumes up 2%, Industrial volumes remaining flat, Premium volumes rising 15%, and a total increase of 8% year-over-year.
- Key operational metrics were shared, including improvements in freight car velocity (217, up 7%) and service performance indexes, demonstrating strong operating momentum and enhanced operational efficiency.