CLAIM #59777 · Union Pacific Corporation (UNP) · 2026Q2 earnings call · Jul 23, 2026 · due Dec 31, 2026
“Even with that, though, we're still very confident that we're going to make margin improvement.”
Jennifer Hamann · CFO
How to check this claim
Look at: Operating ratio (or operating margin), full year, as reported
It came true if: Full-year operating ratio improves versus prior year (i.e., operating margin expands year-over-year)
Where: Company income statement / earnings release (10-K or Q4 call)
In context
“Jennifer Hamann : Yes. So in terms of fuel, I mean, it likely will continue to pressure ORs. As I mentioned, we're paying a little bit north of $4 a gallon right now. Even with that, though, we're still very confident that we're going to make margin improvement. We feel like when we look at what we see ahead for ourselves in terms of volume opportunity in terms of our continued gains from productivity and efficiency, we should be able to overcome the headwinds from the fuel. Who knows exactly how it's going to play out. So that's why we just need to be nimble, need to try to become more fuel efficient to the extent that we can. Obviously, we're already more fuel efficient than truck, and that's a benefit to us. More fuel efficient, more emissions friendly, but we'll wait and see how that plays out overall.”
Verify independently
SEC filings for UNP ↗ · Claim quote is verbatim from the 2026Q2 earnings call.