Union Pacific Sees 4Q Volumes Down More Than 10%, Revenue Down Similarly
December 04 2019 - 11:19AM
Dow Jones News
By Michael Dabaie
Union Pacific Corp. (UNP) said it sees fourth quarter volumes
down a little more than 10%, with revenue down a similar
percentage.
The railroad company said in a filing with the Securities and
Exchange Commission it expects fourth-quarter revenue to fall a
similar percentage as volumes, although not quite to the magnitude
of the volume decline after factoring in pricing actions.
Shares were up 2.4% to $171.94 in Wednesday morning trading
following declines Tuesday.
The forecast came in a presentation by Chief Financial Officer
Robert Knight Jr. at a conference. Mr. Knight's prepared remarks
confirmed the company's expectation of a sub-61% operating ratio
result for full-year 2019, the company said in the filing.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
December 04, 2019 11:04 ET (16:04 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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