U.S. Markets closed

Union Pacific Earnings: UNP Stock Chugs Higher on Q2 Beat

William White

Union Pacific earnings for the second quarter of the year have UNP stock pushing its way higher on Thursday.

Union Pacific Earnings: UNP Stock Chugs Higher on Q2 Beat

Source: Shutterstock

Union Pacific (NYSE:UNP) starts off its second-quarter earnings report strong with earnings per share of $2.22. This is an increase over the company’s earnings per share of $1.98 from the second quarter of 2018. It was also good news for UNP stock by beating out Wall Street’s earnings per share estimate of $2.14 for the period.

The Union Pacific earnings report for the second quarter of 2019 has it bringing in net income of $1.57 billion. This is better than the company’s net income of $1.51 billion reported during the same time last year.

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

Operating income reported in the Union Pacific earnings release for the second quarter of the year comes in at $2.26 billion. This is up from the company’s operating income of $2.10 billion reported in the second quarter of the previous year.

Union Pacific earnings for the second quarter of 2019 also have revenue coming in at $5.60 billion. This is a drop from the railroad company’s revenue of $5.67 billion reported in the same period of the year prior. It also misses analysts’ revenue estimate of $5.63 billion for the quarter, but that wasn’t enough to keep UNP stock down today.

“We delivered record second quarter financial results driven by exceptional operating performance, including an all-time best quarterly operating ratio of 59.6 percent,” Lance Fritz, Chairman, President and CEO of Union Pacific, said in a statement.

UNP stock was up 4% as of Thursday afternoon and is up 19% year-to-date.

More From InvestorPlace

As of this writing, William White did not hold a position in any of the aforementioned securities.

The post Union Pacific Earnings: UNP Stock Chugs Higher on Q2 Beat appeared first on InvestorPlace.