The total revenue carloads were down 3%. Operating income declined 17% to $2.2 billion.
“We faced many challenges in the quarter, including continued inflationary pressures and a drop in carloads,” said Jim Vena, Union Pacific Chief Executive Officer. “Operationally we gained momentum through the quarter, which positions us to provide our customers with great service. Operating and safety metrics are showing solid improvement, as we increase asset utilization. We are aligning the team around our strategy focused on being the best in safety, service, and operational excellence as we drive growth to the railroad. Through our day-to-day actions, we will continue to make improvements as we exit the year.”
2nd quarter results for The total revenue carloads were down 2%.
3rd quarter results for The total revenue carloads were down 3%.
4th quarter prediction for The total revenue carloads could be 4% down.
The only thing that might derail the forecast for the 4th quarter is government spending with US railroads due to the two wars going on. It could boost carloads above the normal due to war preparations in manufacturing.
Post your comments here of what is to come regarding the results for the 3rd quarter.