Union Pacific’s profit rose, as job reductions and lower fuel expenses helped offset weaker demand for carrying freight by rail
By Paul Ziobro Updated July 18, 2019 1:58 pm ET Union Pacific Corp. UNP 5.20% ’s second-quarter profit rose even as it shipped less cargo, as the railroad operator got a boost from cost cuts tied to its new operating plan, including fewer jobs and lower fuel expenses.
Union Pacific is in the midst of a significant overhaul where it is running fewer, longer trains, sorting railcars less frequently and reworking operations across its network. Other freight railroads, including Norfolk Southern Corp. NSC 2.34% and Kansas City Southern , KSU 0.29% are on similar paths, mirroring the changes that CSX Corp. CSX -0.16% made on its network in recent years.
Union Pacific’s operating revenue declined 1% to $5.6 billion in the second quarter as shipping volume fell 4%. But operating expenses fell 7% as the company reduced its workforce by 8%, or about 3,500 people, from a year earlier. Profit rose 4% to $1.57 billion, or $2.22 a share, from $1.51 billion, or $1.98 a share, a year earlier.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
CEO of rail operator Union Pacific sees 'plenty of opportunity' for economic growthUnion Pacific's Lance Fritz struck a more optimistic tone Thursday than the head of one of his rivals did earlier in the week.
Leer más »
Gabrielle Union Just Posted a Cute Bikini Photo on Vacation—and Her Abs Look IncredibleAt 46, she’s honestly never looked better.
Leer más »
Gabrielle Union, 46, Looks Totally Ageless in These No-Makeup Vacation SelfiesShe looks so happy—and her skin is absolutely glowing! ✨
Leer más »
ACLU files lawsuit to block Trump’s sweeping asylum banThe American Civil Liberties Union filed a lawsuit today to stop a new regulation that cuts off asylum for migrants who passed through another country en route to the U.S.-Mexico border
Leer más »
Gabrielle Union Just Posted a Cute Bikini Photo on Vacation—and Her Abs Look IncredibleAt 46, she’s honestly never looked better.
Leer más »