Investing.com - Union Pacific (NYSE:UNP) shares pushed higher in premarket trade on Thursday, after the railroad operator posted better-than-expected fourth-quarter earnings and revenue.
The Omaha, Neb.-based railroad giant posted earnings per share of $2.12 for the fourth quarter, beating expectations for $2.06, as strong growth in industrial and premium shipments more than offset declines in agricultural products and energy.
Revenue totaled $5.76 billion, fractionally above forecasts of $5.74 billion. Quarterly freight revenue rose 6% from a year-earlier,
"We reported record earnings for the quarter driven by strong volume growth, core pricing gains, and regaining positive productivity momentum," said Lance Fritz, Union Pacific chairman, president and chief executive officer.
Union Pacific's stock rose 3.7% in premarket trade to $160.06.
Growth was strongest in the industrial products division, where the company reported strong demand from the construction sector, highlighting demand for pipes and plastics in particular.
Earlier this month, rival operator CSX (NASDAQ:CSX) also reported a solid fourth quarter, with EPS of $1.01 on revenue of $3.14B, compared to forecasts of EPS of $0.99 on revenue of $3.12B.
Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar
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