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
Celebrity birthdays for the week of May 12
Celebrity birthdays for the week of May 12-18:May 12: Actor Millie Perkins (“Knots Landing”) is 88.2024-05-07- CHICAGO (AP) — The Minnesota Twins are no stranger to unique home-run celebrations. Last season, the2024-05-07
Caitlin Clark's $28million Nike deal is slammed as Sonny Vaccaro
Among the critics of Caitlin Clark's $28million Nike deal is former company executive Sonny Vaccaro,2024-05-07Ethics committee dismisses complaint against Missouri speaker
JEFFERSON CITY, Mo. (AP) — A panel of lawmakers dismissed on Monday an ethics complaint against Spea2024-05-07- An angry neighbour left an anonymous 94-word rant on the windscreen of a 'selfish driver's car who p2024-05-07
Cowboys, RB Ezekiel Elliott reuniting after deal: AP source
DALLAS (AP) — The Dallas Cowboys are reuniting with running back Ezekiel Elliott after agreeing to t2024-05-07
atest comment