Union Pacific Corporation
Union Pacific reported a fourth-quarter FY23 operating revenue of $6.159 billion, beating the consensus of $6.05 billion. EPS was $2.71 (+1% Y/Y), beating the consensus of $2.57, according to data from Benzinga Pro.
For 2024, Union Pacific said its volume outlook muted by international intermodal business loss, lower coal demand, and soft economic conditions. The company anticipates capital plan of $3.4 billion.
"The team continues to execute our multi-year strategy to be the industry's best in safety, service, and operational excellence," said Jim Vena, Union Pacific Chief Executive Officer. "Our fourth quarter results show much of what's possible at Union Pacific and that we're on the right path to reaching our goals. Service and operational metrics showed great improvement in the quarter. Those improvements propel us toward a service product that supports growth with our customers. We enter 2024 with strong momentum, recognizing we have plenty of opportunity to improve. We're excited to show our stakeholders what our great team can accomplish."
Union Pacific shares fell 1% to trade at $239.20 on Friday.
These analysts made changes to their price targets on Union Pacific after the company reported quarterly results.
- BMO Capital raised the price target on Union Pacific from $270 to $275. BMO Capital analyst Fadi Chamoun maintained an Outperform rating.
- RBC Capital cut Union Pacific price target from $282 to $272. RBC Capital analyst Walter Spracklin maintained an Outperform rating.
- JP Morgan lowered the price target on Union Pacific from $239 to $237. JP Morgan analyst Brian Ossenbeck maintained a Neutral rating.
