Union Pacific profit falls, beats expectations
CHICAGO, April 21 (Reuters) - Union Pacific Corp on Thursday posted a lower quarterly profit due to falling freight volumes, driven primarily by declines in coal, but the results came in above expectations as the No. 1 U.S. railroad cut costs to match falling demand.
The Omaha, Nebraska-based railroad reported firs-quarter net income of $979 million or $1.16 per share, down nearly 15 percent from $1.15 billion or $1.30 per share a year earlier.
Analysts had on average expected earnings per share for the quarter of $1.10.
(Reporting By Nick Carey; Editing by Chizu Nomiyama)
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