(Reuters.com posted the following article on its website on April 24.)
MIAMI — Union Pacific Corp., North America’s biggest railroad, on Thursday said quarterly profits dropped as higher fuel costs and harsh winter weather dragged on results.
The freight hauler, based in Omaha, Nebraska, said first-quarter profit before an accounting change was 61 cents a share. A year earlier, the company reported a profit of 89 cents a share.
Wall Street had expected earnings of 58 cents to 62 cents a share, with a mean forecast of 59 cents, according to a survey of 12 analysts by Thomson First Call.