Union Pacific Hit By Crew Shortages, Tunnel Outage -- Earnings Review
19 7월 2018 - 10:31PM
Dow Jones News
By Austen Hufford
Union Pacific Corp. reported results for its second quarter
Thursday. Here's what you need to know:
QUOTE: "I recognize the results could have been better," Chief
Executive Lance Fritz said. "A tunnel outage and train-crew
shortages created a headwind in June."
REVENUE: For the second quarter, revenue rose 8% to $5.67
billion, compared with the $5.65 billion expected by analysts.
PROFIT: The company posted a profit of $1.51 billion, or $1.98 a
share, compared with $1.17 billion, or $1.45 a share, in the same
quarter a year earlier. Analysts polled by Thomson Reuters were
expecting earnings of $1.95 a share.
SHARES: In premarket trading, shares fell 4.2%.
TUNNEL COLLAPSE: A failed tunnel lowered the average train
speeds for the company. Train speeds fell 3% in the second quarter
from a year before.
ENERGY COSTS: The company had significantly higher fuel costs in
the quarter, spending $643 million on fuel, up 48% from the same
period a year earlier, as the cost of diesel per gallon rose
36%.
Write to Austen Hufford at Austen.Hufford@wsj.com
(END) Dow Jones Newswires
July 19, 2018 09:16 ET (13:16 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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