HUTCHINSON Kan. – Union Pacific’s first-quarter profit improved 6 percent but fell short of 
expectations as railroad shipping volume slowed 2 percent on weak coal demand and a labor dispute at West Coast ports.
The Omaha, Neb., company reported $1.15 billion in net income, or $1.30 per share, in the first three months of the year. That’s up from $1.09 billion, or $1.19 per share, a year ago. Revenue was essentially flat at $5.6 billion The analysts surveyed by FactSet expected earnings per share of $1.38 on revenue of $5.69 billion.
CEO Lance Fritz says Union Pacific Corp. wasn’t as efficient as could have been due to the sharp drop in volume, but that the railroad is working to adjust its crews and other resources to the reduced traffic. The labor disputes along the west coast reduced train traffic through Reno County over a two-month period. That traffic has now returned to the area and train crews are busy again. Reno County sees about 25 trains per day, most of them inter-modal, coming from the west coast shipping ports.
Eaton Corporation is next in line to release its quarterly earning, which comes April 29. ADM and Oneok will release its earnings news May 5 with Siemens to follow May 7.