LOS ANGELES (Reuters) – Union Pacific Corp <UNP.N> on Thursday reported a bigger-than- expected fall in quarterly profit after it transported fewer carloads of goods by rail, sending shares down 3.6%.
The Omaha, Nebraska-based railroad operator’s third-quarter net income was $1.4 billion, or $2.01 per share, down from $1.6 billion, or $2.22 per share, a year earlier.
Total operating revenue fell 11% to $4.9 billion.
Analysts, on average, expected earnings of $2.06 per share and revenue of $4.96 billion, according to IBES data from Refinitiv.
Shares were down $7.23 to $192.04 in premarket trading.
(Reporting by Lisa Baertlein in Los Angeles; editing by Jason Neely and Chizu Nomiyama)
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