Union Pacific Corp on Thursday reported a better-than-expected quarterly profit,...
FILE PHOTO: A Union Pacific rail car is parked at a Burlington National Santa Fe train yard in Seattle, Washington, U.S., February 10, 2017. REUTERS/Chris Helgren
- Union Pacific Corp on Thursday reported a better-than-expected quarterly profit, as the U.S. railroad raised prices, helping offset the impact of severe winter weather and record flooding that damaged rails in the Midwest.Union Pacific’s operating ratio, a measure of operating expenses as a percentage of revenue and a key metric for Wall Street, increased 1 point to 63.6 percent from a year ago.Total operating revenue fell to $5.4 billion from $5.5 billion.
The Omaha, Nebraska-based company’s net income rose to $1.4 billion, or $1.93 per share, in the first-quarter ended March 31 from $1.31 billion, or $1.68 per share, a year earlier. Analysts, on average, expected a profit of $1.89 per share and revenue of $5.50 billion, according to IBES data from Refinitiv.
Union Pacific and Berkshire Hathaway-owned BNSF are the largest U.S. freight rail operators with an annual revenue of more than $20 billion each.Our Standards:
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