Union Pacific earnings for the second quarter of the year have UNP stock pushing its way higher on Thursday.
Union Pacific (NYSE:UNP) starts off its second-quarter earnings report strong with earnings per share of $2.22. This is an increase over the company’s earnings per share of $1.98 from the second quarter of 2018. It was also good news for UNP stock by beating out Wall Street’s earnings per share estimate of $2.14 for the period.
The Union Pacific earnings report for the second quarter of 2019 has it bringing in net income of $1.57 billion. This is better than the company’s net income of $1.51 billion reported during the same time last year.
Operating income reported in the Union Pacific earnings release for the second quarter of the year comes in at $2.26 billion. This is up from the company’s operating income of $2.10 billion reported in the second quarter of the previous year.
Union Pacific earnings for the second quarter of 2019 also have revenue coming in at $5.60 billion. This is a drop from the railroad company’s revenue of $5.67 billion reported in the same period of the year prior. It also misses analysts’ revenue estimate of $5.63 billion for the quarter, but that wasn’t enough to keep UNP stock down today.
“We delivered record second quarter financial results driven by exceptional operating performance, including an all-time best quarterly operating ratio of 59.6 percent,” Lance Fritz, Chairman, President and CEO of Union Pacific, said in a statement.
UNP stock was up 4% as of Thursday afternoon and is up 19% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.