- Union Pacific Corporation UNP Posted Q3 FY22 Adjusted EPS of $3.19which beats the consensus of $3.08 and is better than the $2.57 announced a year ago.
- Union Pacific included a charge of $114 million for a change in prior period accounting estimates related to new, provisional and ratified employment contracts.
- Operating revenue of $6.6 billion increased 18% due to higher fuel surcharge income, volume growth and pricing increases at core businesses. The consensus estimate for sales is $6.42 billion.
- Business volume, measured in terms of total truckloads, increased by 3%.
- Union Pacific’s reported operating rate was 59.9%. Excluding the charge, the adjusted operating ratio deteriorated 190 basis points from 58.2%. Lower fuel prices had a positive impact on the operating rate by 70 basis points.
- Adjusted operating income of $2.7 billion increased 13%.
- Guidance: Union Pacific cut its full-year growth forecast to about 3% from a previous estimate of 4% – 5%.
- It expects an operating rate for FY22 of around 60%
- Price promotion: UNP shares are down 3.97% to $192.12 during the premarket session on the last check Thursday.
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