Union Pacific's first
Time:2024-05-22 00:35:00 Source:businessViews(143)
OMAHA, Neb. (AP) — Union Pacific’s first-quarter profit crept 1% higher as the railroad tightened up on expenses — particularly its fuel bill — even though it delivered slightly less freight.
The Omaha, Nebraska-based railroad said Thursday it made $1.64 billion, or $2.69 per share. That’s more than last year’s $1.63 billion, or $.2.67 per share, even though last year’s numbers were helped by a 14-cent gain on a real estate sale. Shipping volume was down 1% in the quarter.
The analysts surveyed by FactSet Research were expecting earnings of $2.51 per share.
“When I look at how we’re performing, I see improvement across the board,” CEO Jim Vena said. “The network is operating fluidly and efficiently, allowing us to meet the demand in the market. And that drove the financial success.”
The railroad’s revenue was hurt by a drop in fuel surcharge revenue as fuel prices fell. Union Pacific said it generated $6.03 billion in revenue, down slightly from last year’s $6.06 billion. But that was better than the $5.97 billion that analysts expected.
Previous:Everybody may love Raymond, but Ray Romano loves Peter Boyle
Next:Germany's foreign minister visits Kyiv as Ukraine battles to hold off a Russian offensive
You may also like
- Should you claim child benefit? What it's worth
- Chris Hemsworth reunites with his former Home and Away co
- Berkshire's profit plunges 64% on portfolio holdings as Buffett sells Apple
- King Charles openness about cancer has helped him connect with people
- Judge blocks Biden administration from enforcing new gun sales background check rule in Texas
- Phillies' Trea Turner to miss at least six weeks with a left hamstring injury
- Means tosses seven shutout innings in season debut, Orioles beat Reds 2
- In Botswana, 44 victims of an Easter bus crash in South Africa are laid to rest
- Who is Abi Carter? Inside the American Idol winner's unconventional family life