UNP - Why Union Pacific Shares Are Gaining Momentum Today
2024-04-25 15:12:16 ET
Union Pacific (NYSE: UNP) managed to grow net income in a flat revenue environment, and investors are taking notice. Shares of the railroad company are up 5% as of 2:45 p.m. ET after Union Pacific topped earnings expectations.
Union Pacific earned $2.69 per share in the first quarter on revenue of $6.03 billion, ahead of Wall Street's $2.52 per share on sales of $5.98 billion guidance. Operating income was up 3% year over year even as total revenue fell slightly, as lower fuel and equipment costs offset higher compensation and benefit expenses.
"Our team delivered strong financial results in the first quarter as we navigated a challenging freight market and normal winter conditions," CEO Jim Vena said in a statement. "These results build on the momentum we established as we exited 2023 and provide further proof of what's possible as we strive to be the best in safety, service, and operational excellence."
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Why Union Pacific Shares Are Gaining Momentum Today