Union Pacific Profit Increases on Higher Carloads, Volumes

Date : 10/25/2018 @ 12:57PM
Source : Dow Jones News
Stock : Union Pacific Corp. (UNP)
Quote : 151.43  0.0 (0.00%) @ 1:32PM

Union Pacific Profit Increases on Higher Carloads, Volumes

Union Pacific (NYSE:UNP)
Historical Stock Chart

1 Month : From Oct 2018 to Nov 2018

Click Here for more Union Pacific Charts.
   By Kimberly Chin 
 

Union Pacific Corp. (UNP) said profit rose 33% on higher carloads and volume in the third quarter.

The railroad transport company earned $1.59 billion, or $2.15 a share, up from $1.19 billion, or $1.50 a share, from the same quarter a year earlier. Analysts polled by Refinitiv were expecting earnings of $2.10 a share.

Total operating revenue rose 10% to $5.93 billion. Analysts estimated the company would make $5.92 billion.

The Omaha, Neb.-based company plans to lay off about 500 employees before the end of the year, the first of several rounds of job cuts as the railroad implements a new operating plan to turn around its performance. It will also eliminate 200 contract positions, according to an internal memo The Wall Street Journal reported Tuesday.

The company, one of two major freight railroads in the Western U.S., has been struggling this year with congestion and service issues that have depressed its profits.

Union Pacific reported higher fuel costs in the quarter, spending $659 million on fuel, up 46% from the same period a year earlier, as the cost of diesel per gallon rose 34%.

 

Write to Kimberly Chin at kimberly.chin@wsj.com

 

(END) Dow Jones Newswires

October 25, 2018 08:42 ET (12:42 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.

Latest UNP Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....


No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts


Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.