Union Pacific 1Q Profit, Revenue Fall
April 22 2021 - 8:43AM
Dow Jones News
By Dave Sebastian
Union Pacific Corp. said its profit and revenue fell for the
first quarter as the railroad took a hit from bad weather and
rising fuel prices.
The Omaha, Neb.-based company on Thursday posted a net income of
$1.34 billion, compared with $1.47 billion in the comparable
quarter last year. Earnings were $2 a share, compared with $2.15 a
share in the prior year.
Operating revenue fell 4% to $5 billion. Analysts polled by
FactSet were looking for $5.05 billion.
Business volumes for the quarter, as measured by revenue
carloads, fell 1% due to declines in industrial and bulk shipments,
partially offset by premium carloads.
Quarterly freight revenue fell 5% as lower fuel surcharge
revenue and volume declines partially offset core pricing
gains.
Union Pacific affirmed its 2021 guidance.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
April 22, 2021 08:28 ET (12:28 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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