Union Pacific reported higher profit and revenue in the latest quarter, driven by continued volume growth.

The freight company on Thursday posted a third-quarter profit of $2.08 billion, or $3.49 a share, compared with $1.79 billion, or $3.01 a share, a year earlier.

Stripping out one-time costs, earnings came in at $3.53 a share. Analysts surveyed by FactSet expected adjusted earnings of $3.47 a share.

Total operating revenue climbed 15% to $7.2 billion, just ahead of Wall Street models for $7.16 billion.

The company attributed its higher top line in part to 6% volume growth, as well as core pricing gains. Excluding higher fuel surcharges, freight revenue was up 6%.

For the year, Union Pacific continues to expect per-share earnings growth in the high-single-digit range.

Chief Executive Jim Vena said the company continues to work on its $71.5 billion merger with Norfolk Southern, which was announced last year and is expected to close in mid-2027.

"We look forward to the upcoming steps of the Surface Transportation Board's merger review process and to delivering the benefits of America's first transcontinental railroad for our customers," he said.