U.S. railroad operator Union Pacific Corp on Thursday reported a better-than-exp...
FILE PHOTO: A Union Pacific rail car is parked at a Burlington National Santa Fe train yard in Seattle, Washington, U.S., February 10, 2017. REUTERS/Chris Helgren - U.S. railroad operator Union Pacific Corp on Thursday reported a better-than-expected quarterly profit as price increases and cost controls offset the impact of severe winter weather and record flooding that damaged rails in the Midwest.
Total operating revenue fell 1.7 percent to $5.4 billion. Weather and the U.S. trade war with China reduced export grain carloads, but pricing rose nearly 2.8 percent. Union Pacific’s first-quarter operating ratio - a measure of operating expenses as a percentage of revenue - declined 1 point to 63.6 percent, despite the weather disruptions. A lower ratio means more efficiency and higher profitability.
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