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Union Pacific railroad's profit fell 19% as volume slowed and costs remained high
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FILE - An American flag is emblazoned on this Union Pacific Railroad locomotive sitting in the Jackson, Miss., terminal rail yard, Wednesday, April 20, 2022. Union Pacific reports earnings on Thursday, Oct. 19, 2023. - photo by AP Photo/Rogelio V. Solis, File
OMAHA, Neb. (AP) — Union Pacific's third-quarter profit fell 19% as the railroad hauled fewer shipments and costs remained high, but the average speed of its trains improved 5% as new CEO Jim Vena began to tweak the operations. The Omaha, Nebraska- based railroad said it earned $1.53 billion, or $2.51 per share, during the quarter, That's down from $1.9 billion, or $3.05 per share.