“We believe that we'll be able to do that sometime in year 2, which, for us, looking at it based on when we believe the transaction will be approved will be in 2028.”

How to check this claim

Look at: Achievement of the specific milestone/target referenced (as disclosed by management, tied to the merger/transaction timeline)

It came true if: Milestone reported as achieved during calendar year 2 following transaction approval, with transaction approval assumed to occur in 2028

Where: Company management commentary (quarterly earnings calls / investor presentations) in 2028-2029

Verify independently

SEC filings for UNP ↗ · Claim quote is verbatim from the 2025Q3 earnings call.