(The Associated Press circulated the following on June 17.)
NEW YORK — Union Pacific Corp. cut its second-quarter earnings outlook by 5 cents per share after severe storms in the Midwest disrupted the railroad company’s operations, according to a Securities and Exchange Commission filing on Tuesday.
Union Pacific said 5 cents per share is a preliminary estimate of the impact of network outages and other problems caused by the weather.
Union Pacific now expects the company’s earnings to come in toward the bottom half of its previous guidance of 90 cents to 98 cents per share. That forecast was originally provided by the company in April.
Analysts surveyed by Thomson Financial predict second-quarter earnings of 95 cents.
Union Pacific shares lost 47 cents to $72 in after-market trading, after dropping $3.59, or 4.7 percent, to close at $72.47 during the regular session.