Earnings history

last 4 reports each · paired by recencyMethod

UNP

3 of 4at or beyond implied

Reportimpliedrealized× implied

Q3 FY26±2.8%+3.55%×1.25

Q2 FY26±3.5%+4.02%×1.14

Q1 FY26±3.0%+8.77%×2.93

Jan 27 '26±2.9%+0.72%×0.24

NSC

2 of 4at or beyond implied

Reportimpliedrealized× implied

Q3 FY26±4.6%+3.09%×0.67

Q2 FY26±5.1%+5.32%×1.04

Q1 FY26±4.3%−0.54%×0.12

Jan 29 '26±1.7%+2.00%×1.18

= impliedUNP realized, solidNSC realized, hatchedOne scale, both sides: full bar = 9%× = |realized| ÷ impliedSource: market data

UNP compared with NSC: revenue, margins and what each company keeps, and the suppliers and customers both name