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Union Pacific (UNP) Beats on Q2 Earnings
Union Pacific Corporation (UNP - Free Report) reported second-quarter 2018 earnings per share of $1.98 per share, surpassing the Zacks Consensus Estimate of $1.94. Moreover, earnings increased 36.6% on a year-over-year basis.
How Was the Estimate Revision Trend?
Investors should note that the earnings estimate revisions for Union Pacific depicted a healthy picture prior to the current earnings release. The stock had seen the Zacks Consensus Estimate for second-quarter earnings being revised 3.2% upward over the last 60 days.
Moreover, the company delivered positive surprises in three of the last four quarters. The average earnings beat was 1.9%.
Union Pacific Corporation Price and EPS Surprise
Union Pacific Corporation Price and EPS Surprise | Union Pacific Corporation Quote
Revenues Better Than Expected
Union Pacific recorded operating revenues of $5,672 million, which surpassed the Zacks Consensus Estimate of $5,603.6 million. Moreover, revenues increased 8% year over year. Higher freight revenues boosted the top line.
Key Statistics: Adjusted operating ratio (defined as operating expenses as a percentage of revenues) came in at 63%, reflecting an increase of 1.1 points. During the quarter, the company bought back 33.2 million shares.
Zacks Rank: Currently, Union Pacific carries a Zacks Rank #2 (Buy) which is subject to change following the earnings announcement. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Check back later for our full write up on this Union Pacific earnings report later!
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