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Exhibit 99.1
Union Pacific Reports Strong First Quarter 2020 Results
FOR IMMEDIATE RELEASE
Omaha, Neb., April 23, 2020 – Union Pacific Corporation (NYSE: UNP) today reported 2020 first quarter net income of $1.5 billion, or $2.15 per diluted share. This compares to $1.4 billion, or $1.93 per diluted share, in the first quarter 2019.
“Against the backdrop of the emerging COVID-19 pandemic and a challenging volume environment, we leveraged productivity to deliver strong financial results, including an all time best operating ratio of 59 percent,” said Lance Fritz, Union Pacific chairman, president and chief executive officer. “We also made substantial improvement in employee safety, which is a testament to our dedicated employees. Our rail network has never run better, providing a safer, more reliable and efficient service product to our customers.”
First Quarter Summary
Operating revenue of $5.2 billion was down 3 percent in first quarter 2020, compared to first quarter 2019. First quarter business volumes, as measured by total revenue carloads, decreased 7 percent compared to 2019. Industrial volumes increased compared to 2019, while bulk and premium shipments declined. In addition:
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Quarterly freight revenue declined 3 percent, compared to first quarter 2019, as positive business mix and core pricing gains were offset by lower volumes and decreased fuel surcharge revenue. |
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Union Pacific’s 59 percent operating ratio represented a quarterly record and the fourth consecutive quarter below 60 percent, improving 4.6 points compared to first quarter 2019. |
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Ticker: DPZ
CIK: 1286681
Form Type: 10-Q Quarterly Report
Accession Number: 0000100885-20-000143
Submitted to the SEC: Thu Apr 23 2020 4:58:23 PM EST
Accepted by the SEC: Thu Apr 23 2020
Period: Tuesday, March 31, 2020
Industry: Wholesale Groceries And Related Products