Union Pacific Q3 2024: Revenue Flat, EPS Dips
Ticker: UNP · Form: 10-Q · Filed: Oct 24, 2024 · CIK: 100885
Sentiment: neutral
Topics: earnings, financials, railroads
TL;DR
UPIC revenue flat YoY, EPS down slightly. Still a railroad giant.
AI Summary
Union Pacific Corp. reported its Q3 2024 results, with total revenues of $1.400 billion for the nine months ended September 30, 2024, compared to $1.400 billion in the same period of 2023. Operating income was $606.9 million for the nine months ended September 30, 2024, down from $609.7 million in the prior year. The company's diluted earnings per share were $1.30 for the nine months ended September 30, 2024, a decrease from $1.34 in the same period of 2023.
Why It Matters
This filing provides insight into Union Pacific's financial performance, indicating stable revenue but a slight decrease in profitability, which could impact investor sentiment and future capital allocation decisions.
Risk Assessment
Risk Level: medium — The slight decrease in earnings per share and operating income, coupled with the cyclical nature of the railroad industry, suggests a moderate level of risk.
Key Numbers
- $1.400B — Total Revenues (For the nine months ended September 30, 2024, matching the prior year's period.)
- $606.9M — Operating Income (For the nine months ended September 30, 2024, a slight decrease from the prior year.)
- $1.30 — Diluted EPS (For the nine months ended September 30, 2024, down from $1.34 in the prior year.)
Key Players & Entities
- UNION PACIFIC CORP (company) — Filer
- 1400 DOUGLAS STREET (address) — Business and Mail Address
- OMAHA (location) — City
- NE (location) — State
- 68179 (zip_code) — ZIP Code
- 402 544 6763 (phone_number) — Business Phone
- Todd M. Rynaski (person) — Senior Vice President and Chief Accounting, Risk, and Compliance Officer
- Craig V. Richardson (person) — Executive Vice President, Chief Legal Officer, and Corporate Secretary
- Elizabeth F. Whited (person) — President
- $1.400 billion (dollar_amount) — Total Revenues for nine months ended September 30, 2024 and 2023
FAQ
What was Union Pacific's total revenue for the nine months ended September 30, 2024?
Union Pacific's total revenue for the nine months ended September 30, 2024, was $1,400,000,000.
How did operating income change in the nine months ended September 30, 2024, compared to the same period in 2023?
Operating income decreased slightly from $609,703,814 for the nine months ended September 30, 2023, to $606,908,876 for the nine months ended September 30, 2024.
What were the diluted earnings per share for the nine months ended September 30, 2024?
The diluted earnings per share for the nine months ended September 30, 2024, were $1.30.
Who is the Senior Vice President and Chief Accounting, Risk, and Compliance Officer at Union Pacific?
Todd M. Rynaski holds the position of Senior Vice President and Chief Accounting, Risk, and Compliance Officer.
What is the company's fiscal year end?
Union Pacific Corp.'s fiscal year ends on December 31.
Filing Stats: 4,663 words · 19 min read · ~16 pages · Grade level 12.8 · Accepted 2024-10-24 15:20:00
Key Financial Figures
- $2.50 — ch registered Common Stock (Par Value $2.50 per share) UNP New York Stock Excha
- $1 million — 1,548 [a] Net of deferred taxes of $1 million and ($1) million during the three month
- $1 — et of deferred taxes of $1 million and ($1) million during the three months ended
- $4 — et of deferred taxes of $1 million and ($4) million during the nine months ended S
Filing Documents
- unp20240930_10q.htm (10-Q) — 1820KB
- ex_731073.htm (EX-10.A) — 48KB
- ex_731074.htm (EX-10.B) — 92KB
- ex_731075.htm (EX-10.C) — 312KB
- ex_731076.htm (EX-10.D) — 178KB
- ex_731077.htm (EX-10.E) — 58KB
- ex_731078.htm (EX-10.F) — 96KB
- ex_711274.htm (EX-31.A) — 12KB
- ex_711275.htm (EX-31.B) — 12KB
- ex_711276.htm (EX-32) — 12KB
- ex_731073img001.jpg (GRAPHIC) — 1KB
- ex_731074img001.jpg (GRAPHIC) — 1KB
- ex_731077img001.jpg (GRAPHIC) — 1KB
- ex_731078img001.jpg (GRAPHIC) — 1KB
- 0001437749-24-032008.txt ( ) — 8774KB
- unp-20240930.xsd (EX-101.SCH) — 63KB
- unp-20240930_cal.xml (EX-101.CAL) — 47KB
- unp-20240930_def.xml (EX-101.DEF) — 398KB
- unp-20240930_lab.xml (EX-101.LAB) — 355KB
- unp-20240930_pre.xml (EX-101.PRE) — 440KB
- unp20240930_10q_htm.xml (XML) — 1427KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION Item 1. Condensed Consolidated Financial Statements: CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) For the Three Months Ended September 30, 2024 and 2023 3 CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) For the Three Months Ended September 30, 2024 and 2023 3 CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) For the Nine Months Ended September 30, 2024 and 2023 4 CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) For the Nine Months Ended September 30, 2024 and 2023 4 CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Unaudited) At September 30, 2024, and December 31, 2023 5 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) For the Nine Months Ended September 30, 2024 and 2023 6 CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN COMMON SHAREHOLDERS' EQUITY (Unaudited) For the Three and Nine Months Ended September 30, 2024 and 2023 7 NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) 8 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 18 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 28 Item 4.
Controls and Procedures
Controls and Procedures 29
OTHER INFORMATION
PART II. OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 29 Item 1A.
Risk Factors
Risk Factors 29 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 30 Item 3. Defaults Upon Senior Securities 30 Item 4. Mine Safety Disclosures 30 Item 5. Other Information 30 Item 6. Exhibits 30
Signatures
Signatures 32 Certifications 33 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 September 30, 2024 2023 Operating revenues: Freight revenues $ 5,768 $ 5,545 Other revenues 323 396 Total operating revenues 6,091 5,941 Operating expenses: Compensation and benefits 1,228 1,201 Purchased services and materials 644 668 Fuel 610 702 Depreciation 602 580 Equipment and other rents 237 235 Other 354 378 Total operating expenses 3,675 3,764 Operating income 2,416 2,177 Other income, net (Note 6) 87 106 Interest expense ( 314 ) ( 334 ) Income before income taxes 2,189 1,949 Income tax expense (Note 7) ( 518 ) ( 421 ) Net income $ 1,671 $ 1,528 Share and per share (Note 8): Earnings per share - basic $ 2.75 $ 2.51 Earnings per share - diluted $ 2.75 $ 2.51 Weighted average number of shares - basic 607.6 608.7 Weighted average number of shares - diluted 608.6 609.8 Condensed Consolidated Statements of Comprehensive Income (Unaudited) Union Pacific Corporation and Subsidiary Companies Millions, for the Three Months Ended September 30, 2024 2023 Net income $ 1,671 $ 1,528 Other comprehensive income/(loss): Defined benefit plans - ( 2 ) Foreign currency translation ( 86 ) 22 Unrealized gain on derivative instruments - - Total other comprehensive income/(loss) [a] ( 86 ) 20 Comprehensive income $ 1,585 $ 1,548 [a] Net of deferred taxes of $1 million and ($1) million during the three months ended September 30, 2024 and 2023 , respectively. The accompanying notes are an integral part of these unaudited Condensed Consolidated Financial Statements. 3 Table of Contents Condensed Consolidated Statements of Income (Unaudited) Union Pacific Corporation and Subsidiary C