Union Pacific's first
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
GOP secretary of state who spoke out against election denialism wins JFK Profile in Courage Award
Kentucky Republican Secretary of State Michael Adams, who worked to expand early voting in the Blueg2024-05-07Channing Tatum transforms into tech billionaire in Blink Twice trailer
The trailer for Zoe Kravitz directed film Blink Twice dropped on Tuesday. The film is Zoe's director2024-05-07Who is Baby Reindeer actress Nava Mau? And is her character Teri a real person?
Netflix's latest thriller, which has gone to top of the steaming platform's charts, Baby Reindeer, t2024-05-07Hairy Biker Dave Myers 'left £1.4million windfall for his wife Liliana'
Dave Myers reportedly left a £1.4million windfall for his wife Liliana who has been named the sole s2024-05-07WNBA expansion franchise Golden State hires Ohemaa Nyanin as its general manager
OAKLAND, Calif. (AP) — WNBA Golden State has named Ohemaa Nyanin as the team’s general manager, the2024-05-07The EU will probe whether China is unfairly denying companies access to its medical devices market
BRUSSELS (AP) — The European Union announced on Wednesday an investigation into whether China is usi2024-05-07
atest comment