Union Pacific Corporation Does Not See Coal Shipments Improving In The Second Quarter
On May 20, 2015, at the Wolfe Research Global Transportation Conference, Robert M. Knight, Jr., Executive Vice President-Finance and Chief Financial Officer of Union Pacific Corporation (NYSE:UNP), stated that, with second quarter 2015 coal volumes down approximately 25% quarter-to-date versus last year, the Company at this point does not expect to see much improvement in coal shipments for the remainder of the second quarter of 2015.
Key volume drivers for coal continue to be the combination of low natural gas prices and mild weather conditions.
Mr. Knight further noted that, as discussed on the Company’s first quarter earnings release conference call, the Company remains focused on re-aligning resources with demand to improve service and reduce costs.
While progress is being made, the Company expects the second quarter will still reflect the service and cost impacts of operating inefficiencies.
Union Pacific Corporation (NYSE:UNP) operates through its principal operating subsidiary, Union Pacific Railroad.
Union Pacific Railroad (UPRR) links 23 states in the western two-thirds of the country by rail, providing a critical link in the global supply chain. UPRR’s business mix includes Agricultural Products, Automotive, Chemicals, Coal, Industrial Products and Intermodal. UPRR, along with its subsidiaries and rail affiliates, operates through one reportable operating segment. UPRR is a Class I railroad operates in the United States. UPRR have 31,838 route miles, linking Pacific Coast and Gulf Coast ports with the Midwest and eastern United States gateways and providing several corridors to key Mexican gateways.
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Source: http://marketdailynews.com/2015/05/20/union-pacific-corporation-does-not-see-coal-shipments-improving-in-the-second-quarter/
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