— Union Pacific Corporation (NYSE: UNP) reported its fourth-quarter 2019 earnings of $2.02 per share versus $2.04 per share expected.
— Operating revenue fell by 9% to $5.21 billion versus $5.22 billion expected.
— Freight revenue declined by 10% as core pricing gains and a positive business mix were offset by lower volumes and decreased fuel surcharge revenue.
— Segment-wise, the company experienced a fall in freight revenue as agricultural products declined by 2%, the premium dropped by 14% and energy fell by 25% while industrial were flat.
— The business volume, as measured by total revenue carloads, decreased by 11%. Industrial volumes were flat compared to 2018, while agricultural products, premiums, and energy shipments declined.
— For the full year 2020, the company expects base capital of $2.95 billion, plus $150 million for siding extensions.