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  "documentTitle": "Union Pacific Corporation (UNP)",
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  "authorName": "Eric Mandelblatt",
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  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2023-02-22 00:00:00",
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  "notes": "The chart highlights a significant gap between current consensus projections and potential upside scenarios.",
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      "kind": "callout",
      "text": "Incremental volumes will come at very high incremental margins and require minimal capital investment due to significant excess capacity on UNP’s rail network",
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      "text": "UNP Average Weekly Carloads by Year",
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      "text": "Source: company filings, Soroban estimates, Visible Alpha consensus estimates as of 2/22/2023.",
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      "text": "“Golden age of railroading growth” (4/4): significant excess capacity on rail networks",
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