CLAIM #59675 · Union Pacific Corporation (UNP) · 2025Q2 earnings call · Jul 24, 2025 · due Dec 31, 2025
“So in terms of how we think about OR, obviously, Jim has talked about that, that's an outcome of all the efforts that we're putting forward. But our challenge and our task as a management team is to make continuous improvement. And so we feel very confident in our ability to continue to drive improvement as we move through the back half of the year.”
Jennifer Hamann · CFO
In context
“. Thank you very much. Thanks for the question. Operator: The next question comes from the line of Scott Group with Wolfe Research. Scott H. Group: I'll just stick to some of the fundamentals for now. Jennifer, any thoughts on second half operating ratio, second half price/mix as you sort of think about the business? And then, Kenny, that's just huge strength in coal, putting aside the contract win, like what's the sense from customers about the sustainability of this? Do we need to just think about -- do we need to start thinking about coal a little bit differently just given everything going up with the power markets? Jennifer L. Hamann: Okay, Scott, I think that was about a 3-part question, but I'm going to give you extra credit because you asked about the fundamentals of the business. So in terms of how we think about OR, obviously, Jim has talked about that, that's an outcome of all the efforts that we're putting forward. But our challenge and our task as a management team is to make continuous improvement. And so we feel very confident in our ability to continue to drive improvement as we move through the back half of the year. And you mentioned price/mix, so yes, as we look at the back half of the year, we do actually think, assuming our belief is correct, which I think it is in terms of what's going to happen with international intermodal as a part of our business mix, we should see that mix piece turn more positive as we move through the second half. So that is an expectation that we have in there, Scott. I think you're spot on with that. Even though -- one last comment and then I'll let Kenny talk to coal. But just as a reminder, on the coal piece, while it is -- has a higher arc than our international intermodal, it is still below the system average. So Kenny? Kenyatta G. Rocker: Okay. So yes, and I talked about the natural gas prices, that's certainly playing a role. But more importantly, the service produ”
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SEC filings for UNP ↗ · Claim quote is verbatim from the 2025Q2 earnings call.