OMAHA, Neb. (AP) — Union Pacific’s first-quarter profit crept 1% higher as the railroad tightened up on expenses — particularly its fuel bill — even though it delivered slightly less freight.
The Omaha, Nebraska-based railroad said Thursday it made $1.64 billion, or $2.69 per share. That’s more than last year’s $1.63 billion, or $.2.67 per share, even though last year’s numbers were helped by a 14-cent gain on a real estate sale. Shipping volume was down 1% in the quarter.
The analysts surveyed by FactSet Research were expecting earnings of $2.51 per share.
“When I look at how we’re performing, I see improvement across the board,” CEO Jim Vena said. “The network is operating fluidly and efficiently, allowing us to meet the demand in the market. And that drove the financial success.”
The railroad’s revenue was hurt by a drop in fuel surcharge revenue as fuel prices fell. Union Pacific said it generated $6.03 billion in revenue, down slightly from last year’s $6.06 billion. But that was better than the $5.97 billion that analysts expected.
Related articles:
Related suggestion:
Barcelona to get floating desalination plant to help fight drought in northeastern SpainDistrict attorney says Memphis police officer may have been killed by friendly fireChina bans Uyghurs from using social media apps — Radio Free AsiaMother charged in death of 14A former Maldives president is freed after a high court throws out his 11Armenian victims group ask International Criminal Court to investigate genocide claimInside luxury brands' STAGGERING price hikesThe number of Americans applying for jobless benefits holds steady as labor market remains strongThe Arizona Coyotes are officially headed to Salt Lake CityThe Titans go into the NFL draft flexible at No. 7 with lots of needs to fill
3.326s , 6497.9375 kb
Copyright © 2024 Powered by Union Pacific's first ,International Impression news portal