Union Pacific (UNP) to Launch International Terminal in Phoenix
Union Pacific Corporation (UNP) is gearing up to strengthen its international footprint. The railroad company recently announced plans to launch a new international intermodal terminal in Phoenix. This new terminal is expected to offer rail options between ocean ports in the Los Angeles Basin and the Southwest region in the United States.
Union Pacific anticipates to open the terminal in the first quarter of 2024.
Kenny Rocker, executive vice president of Marketing and Sales at Union Pacific, stated, "We are excited to offer regional shippers and receivers in Arizona a fast, sustainable rail option to move product into and out of Southern California that is cost competitive and removes trucks from our nation's congested highways, with an ability to expand offerings and grow in the future."
The new terminal will open with drayage support provided by Duncan & Son Lines, a logistics firm in Buckeye, AZ. This should help reduce truck emissions on California and Arizona highways.
Over the past six months, shares of Union Pacific have gained 13.4%, outperforming the industry’s rise of 1.9%.
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Zacks Rank and Stocks to Consider
Currently, Union Pacific carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the Zacks Transportation sector are Westinghouse Air Brake Technologies Corporation, operating as Wabtec Corporation WAB and SkyWest, Inc. SKYW. Each stock presently carries a Zacks Rank of 2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Wabtec has an expected earnings growth rate of 22.02% for the current year. WAB delivered a trailing four-quarter earnings surprise of 7.11%, on average.
The Zacks Consensus Estimate for WAB’s current-year earnings has improved 5.1% over the past 90 days. Shares of WAB have gained 17.3% year to date.
SkyWest's fleet-modernization efforts are commendable. The Zacks Consensus Estimate for SKYW’s current-year earnings has improved 31.5% over the past 90 days. Shares of SKYW have surged 181.3% year to date.
SKYW delivered a trailing four-quarter earnings surprise of 32.57%, on average.
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Union Pacific Corporation (UNP) : Free Stock Analysis Report
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