UP CEO says railroad is well-equipped to make it through terrible near-term freight conditions

(Source: Railway Age, April 24, 2020)

NEW YORK — Union Pacific reported an all-time best operating ratio of 59% in 2020’s first quarter, based on 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 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,” said Chairman, President and CEO Lance Fritz. “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.”

Full story: Railway Age

Monday, April 27, 2020