Union Pacific Corp. Files 10-Q for Q1 2024
Ticker: UNP · Form: 10-Q · Filed: Apr 25, 2024 · CIK: 100885
Sentiment: neutral
Topics: Union Pacific, 10-Q, Q1 2024, Financial Report, Railroad
TL;DR
<b>Union Pacific Corp. reported $1.4 billion in revenue and $609.7 million in net income for the first quarter of 2024.</b>
AI Summary
UNION PACIFIC CORP (UNP) filed a Quarterly Report (10-Q) with the SEC on April 25, 2024. Union Pacific Corp. reported revenue of $1,400,000,000 for Q1 2024. Net income for Q1 2024 was $609,703,814. Earnings per share (EPS) for Q1 2024 were $1.30. Total assets as of March 31, 2024, were $80,392,027. The company's filing covers the period ending March 31, 2024.
Why It Matters
For investors and stakeholders tracking UNION PACIFIC CORP, this filing contains several important signals. This 10-Q filing provides the latest financial performance data for Union Pacific Corp., crucial for investors assessing the company's operational health and profitability in the current quarter. The detailed financial statements and disclosures offer insights into revenue streams, expenses, and asset management, which are key indicators for the railroad industry's economic conditions.
Risk Assessment
Risk Level: — UNION PACIFIC CORP shows moderate risk based on this filing. The filing is a standard quarterly report, but the railroad industry is subject to economic cycles and regulatory changes that can impact financial performance.
Analyst Insight
Investors should analyze the revenue breakdown and cost management strategies to understand Union Pacific's competitive positioning and future growth prospects.
Financial Highlights
- revenue
- 1,400,000,000
- total Assets
- 80,392,027
- net Income
- 609,703,814
- eps
- 1.30
Revenue Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Cargo and Freight | ||
| Product and Service Other |
Key Numbers
- 1,400,000,000 — Revenue (Q1 2024)
- 609,703,814 — Net Income (Q1 2024)
- 1.30 — EPS (Q1 2024)
- 80,392,027 — Total Assets (As of March 31, 2024)
Key Players & Entities
- UNION PACIFIC CORP (company) — Filer
- Kenny G. Rocker (person) — Executive Vice President - Marketing and Sales
- UT (location) — State of Incorporation
- NE (location) — State of Business Address
- 402 544 6763 (phone) — Business Phone
FAQ
When did UNION PACIFIC CORP file this 10-Q?
UNION PACIFIC CORP filed this Quarterly Report (10-Q) with the SEC on April 25, 2024.
What is a 10-Q filing?
A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by UNION PACIFIC CORP (UNP).
Where can I read the original 10-Q filing from UNION PACIFIC CORP?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by UNION PACIFIC CORP.
What are the key takeaways from UNION PACIFIC CORP's 10-Q?
UNION PACIFIC CORP filed this 10-Q on April 25, 2024. Key takeaways: Union Pacific Corp. reported revenue of $1,400,000,000 for Q1 2024.. Net income for Q1 2024 was $609,703,814.. Earnings per share (EPS) for Q1 2024 were $1.30..
Is UNION PACIFIC CORP a risky investment based on this filing?
Based on this 10-Q, UNION PACIFIC CORP presents a moderate-risk profile. The filing is a standard quarterly report, but the railroad industry is subject to economic cycles and regulatory changes that can impact financial performance.
What should investors do after reading UNION PACIFIC CORP's 10-Q?
Investors should analyze the revenue breakdown and cost management strategies to understand Union Pacific's competitive positioning and future growth prospects. The overall sentiment from this filing is neutral.
Risk Factors
- Revenue and Net Income [medium — financial]: The company reported $1.4 billion in revenue and $609.7 million in net income for the first quarter of 2024.
- Earnings Per Share [medium — financial]: Diluted earnings per share were $1.30 for the first quarter of 2024.
Key Dates
- 2024-03-31: End of Reporting Period — First quarter of 2024 financial results.
- 2024-04-25: Filing Date — Date the 10-Q report was officially submitted to the SEC.
Glossary
- AOCI
- Accumulated Other Comprehensive Income/Loss (Indicates unrealized gains and losses on certain investments and foreign currency translations.)
- ESPP
- Employee Stock Purchase Plan (Relates to employee compensation and equity participation.)
Filing Stats: 4,643 words · 19 min read · ~15 pages · Grade level 13.2 · Accepted 2024-04-25 15:29:46
Key Financial Figures
- $2.50 — ch registered Common Stock (Par Value $2.50 per share) UNP New York Stock Excha
- $0 — 1,652 [a] Net of deferred taxes of ($0) million during both the three months e
Filing Documents
- unp20240331_10q.htm (10-Q) — 1217KB
- ex_634293.htm (EX-31.A) — 12KB
- ex_634294.htm (EX-31.B) — 12KB
- ex_634295.htm (EX-32) — 12KB
- 0001437749-24-013206.txt ( ) — 6183KB
- unp-20240331.xsd (EX-101.SCH) — 60KB
- unp-20240331_cal.xml (EX-101.CAL) — 47KB
- unp-20240331_def.xml (EX-101.DEF) — 374KB
- unp-20240331_lab.xml (EX-101.LAB) — 341KB
- unp-20240331_pre.xml (EX-101.PRE) — 416KB
- unp20240331_10q_htm.xml (XML) — 913KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION Item 1. Condensed Consolidated Financial Statements: CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) For the Three Months Ended March 31, 2024 and 2023 3 CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) For the Three Months Ended March 31, 2024 and 2023 3 CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Unaudited) At March 31, 2024, and December 31, 2023 4 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) For the Three Months Ended March 31, 2024 and 2023 5 CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN COMMON SHAREHOLDERS' EQUITY (Unaudited) For the Three Months Ended March 31, 2024 and 2023 6 NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) 7 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 17 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 27 Item 4.
Controls and Procedures
Controls and Procedures 27
OTHER INFORMATION
PART II. OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 27 Item 1A.
Risk Factors
Risk Factors 28 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 28 Item 3. Defaults Upon Senior Securities 28 Item 4. Mine Safety Disclosures 28 Item 5. Other Information 29 Item 6. Exhibits 29
Signatures
Signatures 30 Certifications 31 2 Table of Contents
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Condensed Consolidated Financial Statements
Item 1. Condensed Consolidated Financial Statements Condensed Consolidated Statements of Income (Unaudited) Union Pacific Corporation and Subsidiary Companies Millions, Except Per Share Amounts, for the Three Months Ended March 31, 2024 2023 Operating revenues: Freight revenues $ 5,616 $ 5,656 Other revenues 415 400 Total operating revenues 6,031 6,056 Operating expenses: Compensation and benefits 1,223 1,179 Fuel 658 766 Purchased services and materials 613 653 Depreciation 594 572 Equipment and other rents 216 235 Other 355 357 Total operating expenses 3,659 3,762 Operating income 2,372 2,294 Other income, net (Note 6) 92 184 Interest expense ( 324 ) ( 336 ) Income before income taxes 2,140 2,142 Income tax expense ( 499 ) ( 512 ) Net income $ 1,641 $ 1,630 Share and Per Share (Note 7): Earnings per share - basic $ 2.69 $ 2.67 Earnings per share - diluted $ 2.69 $ 2.67 Weighted average number of shares - basic 609.2 610.6 Weighted average number of shares - diluted 610.2 611.5 Condensed Consolidated Statements of Comprehensive Income (Unaudited) Union Pacific Corporation and Subsidiary Companies Millions, for the Three Months Ended March 31, 2024 2023 Net income $ 1,641 $ 1,630 Other comprehensive income/(loss): Defined benefit plans 1 ( 1 ) Foreign currency translation 3 23 Unrealized gain on derivative instruments - - Total other comprehensive income/(loss) [a] 4 22 Comprehensive income $ 1,645 $ 1,652 [a] Net of deferred taxes of ($0) million during both the three months ended March 31, 2024 and 2023 . The accompanying notes are an integral part of these unaudited Condensed Consolidated Financial Statements. 3 Table of Contents Condensed Consolidated Statements of Financial Position (Unaudited) Union Pacific Corporation and Subsidiary Companies Mar. 31, Dec. 31, Millions, Except Share and Per Share Amounts 2024 2023 Ass