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Union Pacific 1Q Net Jumps 35% On Strong Industrial, Chemicals Volume

DOW JONES NEWSWIRES Union Pacific Corp.'s (UNP) first-quarter earnings rose 35% as the railroad booked better-than-expected revenue with help from its growing industrial and chemical businesses. The largest U.S. public railroad by market capitalization once more saw results benefit from booming demand for hauling materials to and from new shale-oil drilling sites. Union Pacific transports steel, sand and pipe to drilling sites where oil and gas are extracted from shale rock, and then hauls out resulting crude oil. The trend helped boost first-quarter volumes in Union Pacific's chemicals and industrial products businesses, which posted an 8% and 10% year-over-year jump in volume, respectively. Overall volume was up 1%. Chief Executive Jack Koraleski noted Thursday that softer coal demand remains a challenge for the company. Union Pacific reported a profit of $863 million, or $1.79 a share, compared with a year-earlier profit of $639 million, or $1.29 a share. Revenue rose 14% to $5.11 billion. Analysts expected earnings of $1.63 a share on revenue of $4.98 billion, according to a poll conducted by Thomson Reuters. The quarter's gains came despite continued high fuel costs faced by the railroad. Union Pacific said its average fuel costs jumped 12% from a year ago in the first quarter. Shares were up 1.2% to $111 in premarket trade. The stock is up 3.5% since the start of the year. -By Mia Lamar, Dow Jones Newswires; 212-416-3207; mia.lamar@dowjones.com

Stock News for Union Pacific (UNP)
DateTimeHeadline
05/17/201611:39:41Current Report Filing (8-k)
05/12/201615:24:44Current Report Filing (8-k)
05/12/201610:16:00Union Pacific Corporation Declares Second Quarter 2016 Dividend
05/10/201609:07:00Union Pacific Corporation CFO Rob Knight to Address Bank of America...
05/07/201603:04:00Profit at Berkshire's BNSF Drops 25% -- WSJ
05/06/201618:04:00Berkshire Hathaway's BNSF Reports Drop in Quarterly Profit...
04/25/201618:10:00Canadian National Railway Reports Higher Profits
04/22/201614:20:00Norfolk Southern Shares Rise on Surprise Profit Jump
04/22/201614:16:00Norfolk Southern Shares Rise on Surprise Profit Jump
04/21/201617:26:00Industrials Down as Earnings and Economic Data Look Mixed...
04/21/201615:51:04Quarterly Report (10-q)
04/21/201613:29:00Union Pacific Profit Falls on Weak Freight Demand
04/21/201609:20:00Union Pacific Profit Falls on Weak Freight Demand
04/21/201609:09:00Union Pacific Profit Falls on Weak Freight Demand
04/21/201608:09:32Current Report Filing (8-k)
04/21/201608:00:00Union Pacific Reports First Quarter 2016 Results
04/19/201609:20:00Kansas City Southern Profit Rises 6.9%
04/14/201609:00:00Union Pacific Corporation Invites You to Join Its First Quarter...
04/12/201617:40:00CSX Revenue Falls as Coal Hurts
04/12/201607:00:00Gabelli & Company’s 10th Annual Omaha Research Trip

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