Union Pacific (NYSE:UNP)
Historical Stock Chart
1 Month : From Jul 2018 to Aug 2018
By Austen Hufford
Union Pacific Corp. reported results for its second quarter Thursday. Here's what you need to know:
QUOTE: "I recognize the results could have been better," Chief Executive Lance Fritz said. "A tunnel outage and train-crew shortages created a headwind in June."
REVENUE: For the second quarter, revenue rose 8% to $5.67 billion, compared with the $5.65 billion expected by analysts.
PROFIT: The company posted a profit of $1.51 billion, or $1.98 a share, compared with $1.17 billion, or $1.45 a share, in the same quarter a year earlier. Analysts polled by Thomson Reuters were expecting earnings of $1.95 a share.
SHARES: In premarket trading, shares fell 4.2%.
TUNNEL COLLAPSE: A failed tunnel lowered the average train speeds for the company. Train speeds fell 3% in the second quarter from a year before.
ENERGY COSTS: The company had significantly higher fuel costs in the quarter, spending $643 million on fuel, up 48% from the same period a year earlier, as the cost of diesel per gallon rose 36%.
Write to Austen Hufford at Austen.Hufford@wsj.com
(END) Dow Jones Newswires
July 19, 2018 09:16 ET (13:16 GMT)
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