Union Pacific Profit Narrowly Tops Estimates Ahead of Merger (1)

Union Pacific Corp.’s quarterly profit slightly outpaced Wall Street estimates, a sign of resilience for rail volume in the face of tariffs and economic volatility.

Earnings in the third quarter were $3.01 a share, the railroad said Thursday in a statement. Analysts had expected $3 on average in estimates compiled by Bloomberg. Its operating ratio, a key performance metric for the rail industry, was 59.2%, better than expected.

The results give Union Pacific momentum as it works to complete a $72 billion acquisition of rival Norfolk Southern Corp. in an uncertain economic and regulatory environment. The move will ...