UNION PACIFIC CORP Annual Report, Year Ended Dec 31, 2024

Union Pacific Corporation (UNP) reported solid financial and operational performance for the fiscal year ending December 30, 2024. The company achieved a 1% increase in total operating revenues to $24.25 billion, driven by a 3% rise in freight volumes and core pricing gains, partially offset by lower fuel surcharge revenues. Operating income saw a significant 7% increase to $9.7 billion, resulting in an improved operating ratio of 59.9% and a 6% increase in diluted earnings per share to $11.09. Safety remains a paramount focus, with notable improvements in both personal injury rates (down 23%) and derailment incident rates (down 20%) compared to the previous year, attributed to strategic initiatives and technological leverage. The company also reported enhanced service performance, with improved Service Performance Index scores for both intermodal and manifest products, alongside increased freight car velocity and record terminal dwell times, underscoring operational efficiencies. Looking ahead to 2025, Union Pacific anticipates continued focus on safety and service, alongside operational excellence, while acknowledging potential macroeconomic uncertainties that could impact business volumes.