OMAHA, Neb. (AP) - Falling shipments of energy, agricultural and imported products cut into profit and revenue at Union Pacific during the third quarter.
The railroad on Thursday posted net income of $1.56 billion, or $2.22 per share, which is 7 cents less than Wall Street was expecting, according to a survey by Zacks Investment Research.
Revenue slid 7% to $5.52 billion, which also is short of projections.
The earnings report from Union Pacific Corp., based in Omaha, Nebraska, comes a day after the Florida railroad CSX reported falling profits and revenue as signs of a slowing global economy grow.