Union Pacific Corporation (NYSE:UNP) Wolfe's 17th Annual Global Transportation & Industrials Conference May 21, 2024 8:35 AM ET Company Participants Jim Vena - Chief Executive Officer Jennifer Hamann - Chief Financial Officer Kenny Rocker - Executive Vice President of Marketing and Sales Conference Call Participants Scott Group - Wolfe Research Scott Group I'm really happy to have from the UP team Jim Vena, the CEO; Jennifer Hamann, CFO; and Kenny Rocker, EVP of Marketing and Sales. I'm going to pass it off ...

Summary of Union Pacific Corporation Conference Call Company Overview - **Company**: Union Pacific Corporation (NYSE: UNP) - **Participants**: - Jim Vena - Chief Executive Officer - Jennifer Hamann - Chief Financial Officer - Kenny Rocker - Executive Vice President of Marketing and Sales - **Conference Date**: May 21, 2024 Key Points Financial Performance - **Earnings Growth**: Reported earnings growth in a challenging freight environment, with freight revenues up 4% excluding fuel surcharge despite a 1% volume decline [6][12] - **Operating Ratio**: Achieved an industry-leading operating ratio of 60.7% in Q1, improving to 60.1% when excluding fuel costs [6][10] - **Expense Management**: Expenses decreased by 3% due to lower fuel prices and productivity gains [6] Safety and Service - **Safety Improvements**: Year-over-year improvements in reportable personal injuries and derailment rates, indicating progress in safety initiatives [7] - **Service Performance**: Notable recovery from service disruptions caused by flooding in Texas, with service levels in intermodal operations reaching historical highs [8][10] Market Dynamics - **Volume Trends**: Overall volume down approximately 1%, with specific challenges in coal markets, while international intermodal segment showed strength [12][18] - **Pricing Power**: The company is focused on maintaining pricing power despite inflationary pressures, with revenue growth expected to outpace volume growth [15][30] Strategic Initiatives - **Product Development**: Introduction of new service products, including premium services and expansion of transload capacity to enhance network reach in high-growth markets [9][10][61] - **Operational Efficiency**: Continuous efforts to improve operational efficiency and productivity, including technology investments and process optimizations [54][56] Inflation and Cost Management - **Inflationary Pressures**: Acknowledgment of ongoing inflationary pressures affecting the railroad industry, with a focus on pricing strategies to mitigate these impacts [15][26] - **Contractual Dynamics**: Approximately 50% of business is under multi-year contracts, which limits immediate pricing adjustments but allows for gradual catch-up as contracts renew [25][27] Future Outlook - **Volume Growth Potential**: Emphasis on capturing demand in various markets, including renewables and petrochemicals, with a strong service product expected to drive customer engagement [62][63] - **Labor Negotiations**: Upcoming labor negotiations anticipated to be contentious, with a focus on maintaining competitive compensation and addressing operational flexibility [71][73] Miscellaneous - **Weather Impact**: Recent weather conditions, including heavy rainfall, have affected service levels, but the company has shown resilience in recovery efforts [44][45] - **Headcount Management**: Current headcount levels are being managed prudently, with a focus on maintaining productivity while preparing for potential volume increases [55][56] This summary encapsulates the key insights and strategic directions discussed during the conference call, highlighting Union Pacific's focus on operational excellence, safety, and market adaptability amidst challenging economic conditions.

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Exact name of registrant as specified in its charter) Utah 13-2626465 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ...

The railroad is growing more efficient during a period of soft demand.Union Pacific (UNP 4.71%) managed to grow net income in a flat revenue environment, and investors are taking notice. Shares of the railroad company are up 5% as of 2:45 p.m. ET after Union Pacific topped earnings expectations.Progress in a "challenging" marketUnion Pacific earned $2.69 per share in the first quarter on revenue of $6.03 billion, ahead of Wall Street's $2.52 per share on sales of $5.98 billion guidance. Operating income was ...

Union Pacific Corporation’s (UNP) first-quarter 2024 earnings of $2.69 per share beat the Zacks Consensus Estimate of $2.50 per share. The bottom line improved 0.75% on a year-over-year basis. Results were aided by strong operational efficiency and favorable pricing.Operating revenues of $6.03 billion marginally beat the Zacks Consensus Estimate of $6 billion. The top line declined 0.41% on a year-over-year basis due to core pricing gains and business mix, offset by reduced fuel surcharge revenues and lower ...

Union Pacific Corporation (NYSE:UNP) Q1 2024 Results Conference Call April 25, 2024 8:45 AM ET Company Participants Jim Vena - Chief Executive Officer Jennifer Hamann - Chief Financial Officer Kenny Rocker - Executive Vice President of Marketing and Sales Eric Gehringer - Executive Vice President of Operations Conference Call Participants David Vernon - Bernstein Justin Long - Stephens Amit Mehrotra - Deutsche Bank Jon Chappell - Evercore ISI Ken Hoexter - Bank of America Ravi Shanker - Morgan Stanley Brian ...

Union Pacific (UNP) came out with quarterly earnings of $2.69 per share, beating the Zacks Consensus Estimate of $2.50 per share. This compares to earnings of $2.67 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 7.60%. A quarter ago, it was expected that this railroad would post earnings of $2.56 per share when it actually produced earnings of $2.71, delivering a surprise of 5.86%.Over the last four quarters, the company has ...

Financial Results: Improved Operational Efficiency and Core Pricing Gains Drive Increase in Operating Income; First Quarter Records for Operating Income and Net Income Operating Performance: Improvement Across Safety, Service, and Operational Excellence; First Quarter Record for Fuel Consumption Rate -more- ● First quarter earnings per diluted share of $2.69, up 1% ● First quarter operating income up 3% ● First quarter net income up1% Exhibit 99.1 Union Pacific Reports First Quarter 2024 Results Omaha, Neb. ...

Wall Street analysts forecast that Union Pacific (UNP) will report quarterly earnings of $2.53 per share in its upcoming release, pointing to a year-over-year decline of 5.2%. It is anticipated that revenues will amount to $6.06 billion, exhibiting an increase of 0.1% compared to the year-ago quarter.Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 1.2% to its current level. This demonstrates the covering analysts' collective reassessment of their initial project ...

Union Pacific Corporation (UNP) is scheduled to report first-quarter 2024 results on Apr 25 before market open.The Zacks Consensus Estimate for first-quarter 2024 earnings has improved 0.80% over the past 60 days. UNP has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in three of the preceding four quarters and missing once, the average beat being 1.41%.Given this backdrop, Let’s see how things have shaped up for UNP this earnings season.We expect Union Pacific’s perf ...