Union Pacific Posts Higher 4Q Earnings, Warns of Muted 2024 Volume
25 Janvier 2024 - 2:30PM
Dow Jones News
By Will Feuer
Union Pacific's profit edged higher in the fourth quarter, but
the company warned of a muted volume outlook for 2024, citing soft
economic conditions and lower demand for coal.
The Omaha, Neb.-based freight railroad, a bellwether of the
industrial economy, reported a profit of $1.65 billion, or $2.71 a
share, compared with $1.64 billion, or $2.67 a share, in the same
period a year earlier. Analysts surveyed by FactSet expected $2.58
a share.
Revenue edged down to $6.16 billion from $6.18 billion. Analysts
expected $6.05 billion.
The company said reduced fuel surcharge revenue and business mix
offset higher volume and core pricing gains.
For 2024, Union Pacific said it expects volume to be muted by
international intermodal business loss, lower coal demand and soft
economic conditions.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
January 25, 2024 08:15 ET (13:15 GMT)
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