Union Pacific Corp.
mentioned weaker demand from a spread of consumers pinched the railroad’s income within the third quarter.
Total volumes, as measured by revenue-generating carloads, fell 8% within the quarter in contrast with the 12 months earlier, Union Pacific mentioned Thursday. Volumes at Union Pacific have been additionally decrease within the first and second quarters.
Larger shipments from industrial prospects within the newest interval have been greater than offset by weaker shipments for agricultural items, vitality merchandise and higher-value gadgets, the corporate mentioned.
Union Pacific, primarily based in Omaha, Neb., reported a quarterly revenue of $1.56 billion, or $2.22 a share, in contrast with $1.59 billion, or $2.15 a share, the 12 months earlier. Analysts predicted $2.31 a share in adjusted revenue, based on FactSet.
Income fell 7% from the 12 months earlier to $5.52 billion, lower than the $5.67 billion forecast by Wall Road analysts.
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