Before the US stock market on April 25, transportation giant Union Pacific Corp., which focuses on rail freight services in the US, announced its first quarter results.
The Zhitong Finance App learned that before the US stock market on April 25, the US transportation giant United Pacific (UNP.US), which focuses on railway freight services, announced first-quarter results. The company's earnings per share under GAAP standards for the first quarter were $2.69, which was 0.16 US dollars higher than the earnings per share generally expected by analysts.
The company's total revenue for the first quarter was about 6.03 billion US dollars, down 0.5% year on year, but about 50 million US dollars higher than analysts' general expectations, mainly because the company's core pricing revenue and business portfolio revenue were offset by reduced fuel surcharge revenue and a decline in sales in some businesses.
Union Pacific's rail freight business revenue, excluding fuel surcharges, increased by about 4% in the first quarter, and the operating profit margin for the first quarter was about 60.7%, an increase of 140 basis points. The company's quarterly fuel price drop in the first quarter had a negative impact on operating profit margins by about 60 basis points.
Union Pacific's quarterly freight rate for each rail freight car in the first quarter was 203 miles per vehicle per day, an increase of 4%. Locomotive productivity in the first quarter was 135 gross tonnage miles (GTMs) per horsepower day, an increase of approximately 10%. The average maximum length of the company's trains in the first quarter was 9287 feet, an increase of about 1%.
The company increased quarterly labor productivity by 1% in the first quarter to 1,000 miles per employee. The company's fuel consumption rate for the first quarter was 1.115, an increase of about 1% measured in gallons of fuel per 1,000 GTM.
In the performance outlook section, the company said that it is expected that with strong service products, improving railway freight network transportation efficiency and a steady pricing model, the overall profit prospects are increasing, and it is expected that the share repurchase scale will be restarted in the second quarter; the unstable factors are continued losses in the international multimodal transport business, falling international coal demand, and the weak economic situation, which may cause some of the company's business sales prospects to be bleak; the company remains unchanged in its long-term capital allocation strategy and continues to maintain a capital plan of about 3.4 billion US dollars.