By Michael Dabaie

 

Union Pacific Corp. (UNP) said it sees fourth quarter volumes down a little more than 10%, with revenue down a similar percentage.

The railroad company said in a filing with the Securities and Exchange Commission it expects fourth-quarter revenue to fall a similar percentage as volumes, although not quite to the magnitude of the volume decline after factoring in pricing actions.

Shares were up 2.4% to $171.94 in Wednesday morning trading following declines Tuesday.

The forecast came in a presentation by Chief Financial Officer Robert Knight Jr. at a conference. Mr. Knight's prepared remarks confirmed the company's expectation of a sub-61% operating ratio result for full-year 2019, the company said in the filing.

 

Write to Michael Dabaie at michael.dabaie@wsj.com

 

(END) Dow Jones Newswires

December 04, 2019 11:04 ET (16:04 GMT)

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