Union Pacific beats by $0.01, reports revs in-line :
- Reports Q2 (Jun) earnings of $1.17 per share, $0.01 better than the Capital IQ Consensus of $1.16; revenues fell 12.1% year/year to $4.77 bln vs the $4.78 bln Capital IQ Consensus.
- Quarterly freight revenue decreased 13% compared to 2Q15, as volume declines and lower fuel surcharge revenue more than offset core pricing gains.
- UNP's 65.2% operating ratio was unfavorable by 1.1 points compared to2Q15.
- The company repurchased 7 mln shares in 2Q16 at an aggregate cost of $602 mln.
- 2016 Outlook: "A soft global economy, the negative impact of the strong U.S. dollar on exports, and relatively weak demand for consumer goods will continue to pressure volumes through the second half of the year. However, we see potential bright spots in certain segments of our business if key economic drivers continue to strengthen as they have in recent weeks. Beyond the impact of the current macro environment, we are implementing a strategy that will make us a stronger company for the future..."
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