MAAT INDEX

CLAIM #59778 · Union Pacific Corporation (UNP) · 2026Q2 earnings call · Jul 23, 2026 · due Dec 31, 2026

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.

Jennifer Hamann · CFO

PENDING
graded after results covering Dec 31, 2026 are reported

How to check this claim

Look at: Operating ratio (OR), full-year, as reported

It came true if: Full-year operating ratio improves (decreases) versus prior full-year reported OR

Where: Company income statement / earnings release (full-year operating ratio disclosure)

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.