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 story : Union Pacific stock jumps after record earnings that rose above expectations #FinanceUSA #StockMarketNEWS Shares of Union Pacific Corp. jumped 2.2% in premarket trading Thursday, after the railroad

@stockMarketNEWS 9 Days ago

Posted in: #FinanceUSA #StockMarketNEWS

Union Pacific stock jumps after record earnings that rose above expectations #FinanceUSA #StockMarketNEWS
Shares of Union Pacific Corp. jumped 2.2% in premarket trading Thursday, after the railroad operator reported record results for the second-quarter, as profit and revenue rose above expectations in the face of continued supply chain disruptions, particularly in the intermodal business. Net income grew to .80 billion, or .72 a share, from .13 billion, or .67 a share, in the year-ago period. The FactSet consensus for earnings per share was .55. Revenue rose 30% to .50 billion, beating the FactSet consensus of .36 billion. Bulk revenue rose 19% to .65 billion, topping the FactSet consensus of .63 billion, while industrial revenue increased 24% to .86 billion to beat expectations of .82 billion. Total revenue carloads increases 22% to 2.1 million. "The Union Pacific team leveraged volume growth, core pricing gains, and productivity to produce record quarterly results," said Chief Executive Lance Fritz. "As we move into the second half of 2021, we will continue working with our customers and the broader supply chain to increase fluidity and efficiently handle the strong demand for freight transportation." The stock has tacked on 4.3% year to date, while the Dow Jones Transportation Average has climbed 17.5% and the Dow Jones Industrial Average has gained 13.7%.


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