Union Pacific Corporation Conference Call Summary Company Overview - **Company**: Union Pacific Corporation (NYSE: UNP) - **Event**: Barclays 2024 Industrial Select Conference - **Date**: February 21, 2024 - **Participants**: - Jim Vena - CEO - Jennifer Hamann - CFO Key Points Industry and Company Performance - The railroad industry in the U.S., Canada, and Mexico has seen improvements in safety, but Union Pacific aims to enhance its safety measures further [5][6] - Union Pacific's strategy focuses on delivering excellent service, operational excellence, and improving car velocity to enhance customer experience [7][8][9] - The company reported a **6% decline in January volumes**, but has seen recovery in February with improved velocity and carloads [16][17] Financial Metrics and Outlook - Union Pacific is targeting to achieve the best operating ratio and margins in North America, although it acknowledges the challenges ahead [10][30] - The company is cautious about the economic outlook, particularly regarding coal markets and intermodal contracts, which are expected to be headwinds [17][30] - Jennifer Hamann indicated that inflationary pressures are expected to be around **5%** for compensation and benefits, with productivity improvements needed to offset these costs [39][41] Operational Strategies - Union Pacific is investing in new terminals and services, particularly in intermodal and cross-border traffic with Mexico, to capture market opportunities [13][14] - The company is focused on improving workforce productivity and operational efficiency, with ongoing investments in technology and training [12][39] - Car velocity is emphasized as a key performance metric, correlating closely with customer satisfaction [20][21] Capital Allocation and Shareholder Returns - Union Pacific plans to invest **$3.4 billion** in capital expenditures, with half allocated for maintenance and safety improvements [48] - The company is currently prioritizing debt repayment over share repurchases, with **$1.3 billion** of debt due soon [52] Customer Engagement and Market Position - Union Pacific aims to convert more truck business to rail, emphasizing the environmental benefits of rail transport [36][37] - The company is focused on building long-term relationships with existing customers while also seeking new business opportunities [35][36] Conclusion - Union Pacific is positioned to navigate current market challenges while focusing on safety, service, and operational excellence. The company remains committed to improving its financial metrics and shareholder returns through strategic investments and efficiency improvements [10][48][52]

OMAHA, Neb., Feb. 8, 2024 /PRNewswire/ -- Union Pacific Railroad has appointed Andrew Brady to vice president-External Relations, following Printz Bolin's retirement at the end of February. Based in Union Pacific's Washington, D.C., office, Brady is responsible for communicating inside the Beltway about national and state-specific industry issues and projects, including economic and safety regulation, passenger rail, security and labor. He previously served as Union Pacific's assistant vice president-Extern ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to ____________ Commission File Number 1-6075 UNION PACIFIC CORPORATION (Exact name of registrant as specified in its charter) Utah 13 ...

OMAHA, Neb., Feb. 1, 2024 /PRNewswire/ -- Union Pacific Railroad is among Fortune magazine's list of World's Most Admired Companies for the 18th time in 22 years and is the highest ranked railroad in the Trucking, Transportation and Logistics category for the second consecutive year. "Union Pacific's ranking is a reflection of our commitment to providing safe, reliable and environmentally responsible service for our customers," said Jim Vena, Union Pacific CEO. "We're proud to connect businesses and communi ...

Union Pacific Corporation’s (UNP) fourth-quarter 2023 earnings of $2.71 per share beat the Zacks Consensus Estimate of $2.56. The bottom line improved 1.5% on a year-over-year basis.Operating revenues of $6,159 million also beat the Zacks Consensus Estimate of $6,108.7 million. The top line was flat on a year-over-year basis on the back of increased volume and core pricing gains offset by reduced fuel surcharge revenue and business mix.Freight revenues, accounting for 94.2% of the top line, increased 1% to ...

| --- | --- | |------------------------------------------------------------------------|-------| | | | | EXECUTIVE SUMMARY FOURTH QUARTER 2023 Jim Vena Chief Executive Officer | | | 2 | | | --- | |------------------------------------------------------------------------------------------------------------------------------------------| | | | Executive Summary | | • Team demonstrated early success behind strategy of safety, service, and operational excellence | | • Volume and productivity offset inflationary ...

Financial Data and Key Metrics Changes - In Q4 2023, the company reported a net income of $1.7 billion, or $2.71 per share, compared to $1.6 billion, or $2.67 per share in Q4 2022, reflecting a 1% increase in both net income and earnings per share [10][60]. - The operating ratio improved by 10 basis points year-over-year to 60.9%, and sequentially improved by 250 basis points from Q3 2023 [42][60]. - Full year 2023 revenue totaled $24.1 billion, a decline of 3% driven by reduced fuel surcharges and lower volumes, while operating income was $9.1 billion with an operating ratio of 62.3%, deteriorating by 220 basis points [61][62]. Business Line Data and Key Metrics Changes - Freight revenue in Q4 2023 totaled $5.8 billion, up 1%, with a 3% increase in volume contributing positively, while intermodal shipments increased by 5% [43][44]. - The bulk revenue for the quarter was flat compared to 2022, driven by a 3% increase in volume offset by a 2% decrease in average revenue per car [69]. - Premium revenue decreased by 3% despite a 4% increase in volume, primarily due to lower fuel surcharges and truck market pressures [80]. Market Data and Key Metrics Changes - The company noted a positive uptick in volumes in the LA Long Beach region, while the East Coast experienced a decline [4]. - The economic environment for 2024 is expected to be muted, particularly in the first half, with challenges in coal and intermodal markets due to severe winter storms [74][103]. - Fertilizer shipments are expected to remain strong due to competitive commodity prices, while grain product shipments increased due to new feedstock opportunities [63][82]. Company Strategy and Development Direction - The company is focused on a multiyear strategy to lead the industry in safety, service, and operational excellence, with a strong emphasis on improving efficiency and service products [24][68]. - Capital investments of $3.4 billion are planned for 2024 to support safe and productive operations, including modernization of locomotives and expansion of intermodal capacity [86][105]. - The management is optimistic about capturing available demand despite economic uncertainties, emphasizing the importance of controlling operational efficiencies [96][99]. Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maximizing available opportunities despite uncertainties in volume forecasts due to economic conditions and inflationary pressures [110][112]. - The company anticipates challenges in the first quarter of 2024 due to weather impacts and a soft economic environment, but remains focused on improving service and operational efficiency [96][103]. - Management highlighted the importance of productivity gains to offset inflationary pressures and maintain margins in 2024 [147][149]. Other Important Information - The company returned $3.9 billion to shareholders in 2023 through dividends and share repurchases, maintaining a strong balance sheet with an adjusted debt-to-EBITDA ratio of three times [67]. - Fuel expenses decreased by 11% in Q4 2023, attributed to a 15% decline in fuel prices, although the fuel consumption rate deteriorated by 3% due to a less fuel-efficient business mix [53][41]. Q&A Session Summary Question: What is the outlook for 2024? - Management indicated that the macro environment appears muted, with challenges expected in coal demand and lost international intermodal business impacting volume [103][108]. Question: Can volume be up this year despite a muted macro environment? - Management acknowledged the uncertainty in volume forecasts but emphasized the importance of operational improvements and service quality to capture demand [115][119]. Question: How does the company plan to address inflationary pressures? - The company is focusing on productivity improvements and pricing strategies to offset inflation, although margins are not expected to be accretive in 2024 [147][149]. Question: What are the expectations for intermodal business in 2024? - Management confirmed that a contract loss in international intermodal business occurred early in 2023, which will impact volumes in 2024 [146][141].

For the quarter ended December 2023, Union Pacific (UNP) reported revenue of $6.16 billion, down 0.3% over the same period last year. EPS came in at $2.71, compared to $2.67 in the year-ago quarter.The reported revenue represents a surprise of +0.82% over the Zacks Consensus Estimate of $6.11 billion. With the consensus EPS estimate being $2.56, the EPS surprise was +5.86%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street ...

Fourth quarter earnings per diluted share of $2.71, up 1% Fourth quarter net income up 1% Full year earnings per diluted share of $10.45, down 7% Full year net income down 9% OMAHA, Neb., Jan. 25, 2024 /PRNewswire/ -- Union Pacific Corporation (NYSE: UNP) today reported 2023 fourth quarter net income of $1.7 billion, or $2.71 per diluted share. This compares to 2022 fourth quarter net income of $1.6 billion, or $2.67 per diluted share. Reported net income for full year 2023 was $6.4 billion, or $10.45 per ...

Investors are always looking for stocks that are poised to beat at earnings season and Union Pacific Corporation (UNP) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.That is because Union Pacific is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is a pr ...