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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Union Pacific Corp | NYSE:UNP | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-0.65 | -0.26% | 246.75 | 248.40 | 245.68 | 247.41 | 483,304 | 19:25:25 |
By Dean Seal
Union Pacific's earnings and sales fell in the third quarter as volumes declined and fuel prices rose.
The railroad freight company posted a profit of $1.5 billion, compared with $1.9 billion in the same quarter a year ago.
Earnings slid to $2.51 a share from $3.05 a share in the year-ago quarter. Analysts polled by FactSet had been expecting $2.41 a share.
Quarterly revenue was $5.94 billion, down from $6.57 billion last year and below FactSet consensus forecast of $5.96 billion.
The top line declined 10% on lower volumes and fuel surcharge revenue, with higher prices only slightly offsetting the shortfall.
Business volumes, as measured by carloads, were down 3% while quarterly workforce productivity decreased 6%.
The Omaha, Neb.-based company said its derailment rates improved during the quarter and its quarterly locomotive productivity was up 4%.
Chief Executive Jim Vena said the company continues to face inflationary pressure and a drop in carloads, though operating and safety metrics are showing solid improvement.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
October 19, 2023 08:20 ET (12:20 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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