Union Pacific incrementally took share from trucks in its fiscal Q1

Union Pacific Corporation (NYSE: UNP) opened nearly 2.0% up on Thursday after reporting solid results for its Q1. Shares, however, gave up the intraday gain later as the railroad company said fuel prices continue to be a headwind. As per CEO Lance Fritz:

Notable figures in Union Pacific Q1 earnings report

• Net income came in at $1.63 billion that translates to $2.57 per share.
• In the same quarter last year, net income stood at $1.34 billion ($2.00 a share).
• At $5.86 billion, revenue noted YoY growth of 17.2%, as per the earnings press release.
• FactSet consensus was for $2.56 of EPS on $5.71 billion in revenue.
• Operating expenses shot up nearly 16% as fuel expenses soared 73.7%.
• Operating ratio jumped to 59.4%; ahead of the Street expectations.

CEO Fritz’ discussed results on CNBC’s ‘Squawk on the Street’

Freight car velocity and locomotive productivity was down 5.0% and 6.0%, respectively. Discussing results on CNBC’s “Squawk on the Street”, CEO Lance Fritz said:

Other notable figures in the earnings report include a 12% increase in revenue per car load and a freight volume up 4.0%. Union Pacific is also hiring to ramp up productivity and is committed to reducing the excess freight car inventory, confirmed the chief executive.