(Zacks Equity Research via Nasdaq)
America’s largest railroad company, Union Pacific, beat earnings this morning sending the stock surging over 4%. UNP announced Q1 EPS at $1.93 per share beating the $1.89 estimates and was up 15% from EPS reported for the same quarter in 2018. UNP followed suit of railroad earnings with both CSX Corp. and Kansas City Southern reporting a strong positive earnings surprise earlier this week.
Union Pacific announced it would temporarily halt its $550 million project in Brazos, Texas as well as close down two "hump yards" in order to focus on operational efficiencies. The Brazos project is the largest undertaking in the history of Union Pacific, which dates back to 1862.
The entire railroad industry is hitting all-time highs this week following strong earnings support. The question that we pose to ourselves as investors is, what is driving this and what implications does this have on the broader markets? Click here to read more.
- Union Pacific Operational Overhaul Gains Traction, Shares Rise (Reuters)
- Union Pacific Completes First of 3 PSR Transition Stages (Supply Chain Dive)
- Union Pacific Halts $550 Million Texas Project (Wall Street Journal)
- Union Pacific ‘Pauses’ Construction of New $550 Million Texas Rail Yard (Dallas News)