Union Pacific Profit Tops Analysts’ Estimates on Coal Surge
- Railroad says pricing gains boosted first-quarter results
- Company is increasing crews, locomotives to ease congestion
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Union Pacific Corp.’s shipments of coal and chemicals jumped in the first quarter, helping the largest publicly traded railroad to post profit above analysts’ expectations.
Earnings were $2.57 a share, up from $2 a year earlier, the Omaha, Nebraska-based company said Thursday in a statement. Analysts expected $2.53 on average, according to estimates compiled by Bloomberg. Revenue rose to $5.86 billion, while analysts had predicted $5.75 billion.