Oct. 23 at 12:43 PM
Union Pacific Corporation reporte third-quarter adjusted earnings per share of
$3.08, beating analyst estimates of
$2.99, while revenue slightly missed expectations at
$6.24 billion, compared to the consensus estimate of
$6.25 billion.
The railroad operator’s revenue rose 3% year-over-year, driven by strong gains in core pricing, partially offset by lower fuel surcharge revenue. Freight transportation revenue, excluding fuel surcharges, grew 4% compared to the same quarter last year. Following the earnings report, Union Pacific’s stock fell 1.2% in pre-market trading.
"Our Q3 results demonstrate that we are successfully executing our strategy," said CEO Jim Vena. "We have a historic opportunity with Norfolk Southern to create America's first transcontinental railroad."
Union Pacific reported an operating ratio of 59.2%, a 110-basis-point improvement from last year. On an adjusted basis, the operating ratio was 58.5%, showing a 180-basis-point improvement.
$UNP