Union Pacific Corp at Morgan Stanley Laguna Conference Summary - Thomson StreetEvents

Union Pacific Corp at Morgan Stanley Laguna Conference Summary

Union Pacific Corp at Morgan Stanley Laguna Conference Summary - Thomson StreetEvents
Union Pacific Corp at Morgan Stanley Laguna Conference Summary
Published Sep 10, 2025
9 pages (5204 words) — Published Sep 10, 2025
Price US$ 54.00  |  Buy this Report Now

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Abstract:

Edited Brief of UNP.N presentation 10-Sep-25 3:30pm GMT

  
Brief Excerpt:

...A. So on the revenue side, we see growth. B. And in fact, the last couple of weeks, we've reported speeds over 230 miles a day. C. You're seeing growth in our bulk in our coal business, which tends to be slower, and a decline in some of the international intermodal business. D. And when you look at an intermodal service performance index, that's in the mid- to high 90s, you see manifest SPI at 100%. E. Right now, quarter to date, our volumes are up 2%. F. So down 2%. G. Last year, in the second half of the year, our international intermodal volumes were up over 30%. H. And -- so had a strong July but then declining sequentially through the quarter, and we expect to continue to see that. I. We've got a great franchise there, up 3%. J. So you've got growth in terms of the petrochems, plastics, that's up over 10% in the quarter. K. But then you have items like specialized net energy, down about 3%, Forest products, think about the housing market, that's down 2%. L. So strong coal demand, coal...

  
Report Type:

Brief

Source:
Thomson StreetEvents
Company:
Union Pacific Corp
Ticker
UNP.N
Time
3:30pm GMT
Format:
PDF Adobe Acrobat
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The following is excerpted from the question-and-answer section of the transcript.

(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)

Question: Ravi Shanker - Morgan Stanley - Analyst : I'm shocked. Jim, Jennifer, thank you so much for those opening comments. A great setup. Maybe a couple of follow-ups for you, Jim. Can you just remind us from a process perspective, what is going on in UNP right now kind of and what are the next set of catalysts that we can look forward to?

Question: Ravi Shanker - Morgan Stanley - Analyst : I will send you, cake. I don't know what he's going to give you. Before I went up to the audience here, a quick question for you, Jennifer. Just based on your slide on the volume trend and the mix trend, so what's the net impact of that? Is that tracking better or worse than you thought three months ago? And also, you guys are absolutely industry leaders from an OR perspective. So ex the merger costs, where are we looking at for a sequential OR move versus normal seasonality?

Question: Ravi Shanker - Morgan Stanley - Analyst : Got it. And the volume trend versus expectations, the sort of net revenue?

Question: Ravi Shanker - Morgan Stanley - Analyst : Got it. Any questions from the audience for Jim or Jennifer? One up here. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. SEPTEMBER 10, 2025 / 3:30PM, UNP.N - Union Pacific Corp at Morgan Stanley Laguna Conference Unidentified Participant Just on the synergy figure and I think some of the feedback from CSX and BN after their partnership announcement has been that that dollar amount, if accurate, is accessible to them through partnership and without having to do a merger. I'm just curious for your response on that, what -- there seemed like there would be natural headwinds to that number, if it's not a formal merger, but I'm curious what you think about that.

Question: Ravi Shanker - Morgan Stanley - Analyst : See we add value here at the Laguna conference. Any other questions? Yeah, one up here. Unidentified Participant Why is now the right time for this deal? Sorry, why is now the right time for this deal? Why not 5 years ago, 10 years ago, given that the compatibility of the networks has not changed?

Question: Ravi Shanker - Morgan Stanley - Analyst : Understood. Any other questions? Anyone else? A question over here. Unidentified Participant Just wondering if you guys can talk about your capital allocation strategy as you look out over the next couple of years in the meantime before the merger is possibly approved, what you're kind of prioritizing?

Question: Ravi Shanker - Morgan Stanley - Analyst : Maybe really quick in the seven seconds we have left, Jim, you said that there's a lot of competition coming for you given the transaction. Have you seen -- in relation to the announcements made already, but have you seen competitors get more aggressive already to try and preempt something like this from a pricing standpoint?

Table Of Contents

Union Pacific Corp at Robert W Baird Global Industrial Conference Summary – 2025-11-11 – US$ 54.00 – Edited Brief of UNP.N presentation 11-Nov-25 7:45pm GMT

Union Pacific Corp at Robert W Baird Global Industrial Conference Transcript – 2025-11-11 – US$ 54.00 – Edited Transcript of UNP.N presentation 11-Nov-25 7:45pm GMT

Union Pacific Corp Q3 2025 Earnings Call Summary – 2025-10-23 – US$ 54.00 – Edited Brief of UNP.N earnings conference call or presentation 23-Oct-25 12:45pm GMT

Union Pacific Corp Q3 2025 Earnings Call Transcript – 2025-10-23 – US$ 54.00 – Edited Transcript of UNP.N earnings conference call or presentation 23-Oct-25 12:45pm GMT

Union Pacific Corp at Morgan Stanley Laguna Conference Transcript – 2025-09-10 – US$ 54.00 – Edited Transcript of UNP.N presentation 10-Sep-25 3:30pm GMT

Union Pacific Corp Q2 2025 Earnings Call Summary – 2025-07-24 – US$ 54.00 – Edited Brief of UNP.N earnings conference call or presentation 24-Jul-25 12:45pm GMT

Union Pacific Corp Q2 2025 Earnings Call Transcript – 2025-07-24 – US$ 54.00 – Edited Transcript of UNP.N earnings conference call or presentation 24-Jul-25 12:45pm GMT

Union Pacific Corp at Wells Fargo Industrials Conference Summary – 2025-06-10 – US$ 54.00 – Edited Brief of UNP.N presentation 10-Jun-25 2:30pm GMT

Union Pacific Corp at Wells Fargo Industrials Conference Transcript – 2025-06-10 – US$ 54.00 – Edited Transcript of UNP.N presentation 10-Jun-25 2:30pm GMT

Union Pacific Corp at Bank of America Corp Industrials, Transportation & Airlines Key Leaders Conference Summary – 2025-05-14 – US$ 54.00 – Edited Brief of UNP.N presentation 14-May-25 1:30pm GMT

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MLA:
Thomson StreetEvents. "Union Pacific Corp at Morgan Stanley Laguna Conference Summary" Sep 10, 2025. Alacra Store. Nov 06, 2026. <http://www.alacrastore.com/thomson-streetevents-transcripts/Union-Pacific-Corp-at-Morgan-Stanley-Laguna-Conference-B16501862>
  
APA:
Thomson StreetEvents. (2025). Union Pacific Corp at Morgan Stanley Laguna Conference Summary Sep 10, 2025. New York, NY: Alacra Store. Retrieved Nov 06, 2026 from <http://www.alacrastore.com/thomson-streetevents-transcripts/Union-Pacific-Corp-at-Morgan-Stanley-Laguna-Conference-B16501862>
  
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