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Union Pacific dragged down by falling freight volumes

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Posted at 8:36 AM, Oct 17, 2019
and last updated 2019-10-17 09:36:41-04

OMAHA, Neb. (KMTV) — Falling shipments of energy, agricultural and imported products cut into profit and revenue at Union Pacific during the third quarter.

The railroad on Thursday posted net income of $1.56 billion, or $2.22 per share, which is 7 cents less than Wall Street was expecting, according to a survey by Zacks Investment Research.

Revenue slid 7 percent to $5.52 billion, which also is short of projections.

The earnings report from Union Pacific Corp., based in Oklahoma, Nebraska, comes a day after the Florida railroad CSX reported falling profits and revenue as signs of a slowing global economy grow.
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Portions of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on UNP at https://www.zacks.com/ap/UNP