Union Pacific GAAP EPS of $2.69 beats by $0.16, revenue of $6.03B beats by $50M (NYSE:UNP)

Union Pacific press release (NYSE:UNP): Q1 GAAP EPS of $2.69 beats by $0.16.
Revenue of $6.03B (-0.5% Y/Y) beats by $50M.
Operating revenue of $6.0 billion was flat driven by core pricing gains and business mix offset by reduced fuel surcharge revenue and lower volume.
Freight revenue excluding fuel surcharge revenue grew 4% as revenue carloads declined 1%.
Operating ratio was 60.7%, an improvement of 140 basis points. Lower fuel prices during the quarter negatively impacted the operating ratio 60 basis points.
Quarterly freight car velocity was 203 daily miles per car, a 4% improvement.
Quarterly locomotive productivity was 135 gross ton-miles (GTMs) per horsepower day, a 10% improvement.
Average maximum train length was 9,287 feet, a 1% increase.
Quarterly workforce productivity improved 1% to 1,000 car miles per employee.
Fuel consumption rate of 1.115, measured in gallons of fuel per thousand GTMs, improved 1%.
2024 Outlook

Updated
- Profitability outlook gaining momentum with strong service product, improving network efficiency, and solid pricing
- Restarting share repurchases in second quarter
Volume outlook muted by international intermodal business loss, lower coal demand, and soft economic conditions
Pricing dollars in excess of inflation dollars
No change to long-term capital allocation strategy
- Capital plan of $3.4 billion

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Union Pacific Corporation