Transportation company, Union Pacific Corporation (UNP) saw a rise in profits on Wednesday due to lower expenses during the first quarter.
The Omaha, NE based company reported first quarter net income of $957 million, or $2.03 per share, up 10% from $863 million, or $1.79 per share in the first quarter of last year. Analysts expected to see earnings of $1.96 per share.
Declined demand for coal and less shipments for the company were offset during the quarter due to reduced costs. The company’s revenue for the quarter rose by 3% to $5.29 billion, from $5.11 billion last year. Analysts expected to see revenue of $5.22 billion.
During the first quarter, coal shipments fell -6% and agricultural shipments declined by -9%. On the upside, the chemicals segment rose by 14% and automotive increased 13%.
Union Pacific shares were up $4.28, or 3.13% during Thursday morning trading. The stock has increased 4% in the past year.
The Bottom Line
Shares of Union Pacific Corporation (UNP) have a 1.94% yield, based on Thursday morning’s price of $142.49.
Union Pacific Corporation (UNP) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.