Union Pacific Reports Higher Profit, Lower Operating Revenue

By Aisha Al-Muslim

Union Pacific Corp. (UNP) said it had strong financial results in the latest quarter, driven by its improved operating performance, including an all-time best quarterly operation ratio, despite numerous weather challenges.

The Omaha, Neb.-based railroad operating company reported Thursday a profit for the second quarter of $1.57 billion, or $2.22 a share, up from $1.51 billion, or $1.98 a share, a year earlier. Analysts polled by FactSet were looking for $2.14 a share.

Total operating revenue fell 1% to $5.6 billion, below the consensus forecast of $5.64 billion. Operating ratio was 59.6%, an improvement of 3.4 points compared to the same period a year earlier.

Second-quarter business volumes, as measured by total revenue carloads, decreased by 4%. Industrial volumes increased, while agricultural products shipments were flat, and energy and agricultural products declined.

Write to Aisha Al-Muslim at aisha.al-muslim@wsj.com

(END) Dow Jones Newswires

July 18, 2019 08:41 ET (12:41 GMT)

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