Union Pacific 3Q Profit Falls 13 Percent as Shipments SlowBy JOSH FUNK, AP BUSINESS WRITER OMAHA, Neb. — Oct 20, 2016, 12:53 PM ET
Union Pacific's profit fell 13 percent in the third quarter because the railroad's efforts to cut costs and improve productivity couldn't offset a 6 percent decline in total freight.
Its stock fell more than 6 percent in midday trading.
The Omaha, Nebraska, based railroad said Thursday it earned $1.13 billion, or $1.36 per share. That's down from $1.3 billion, or $1.50 per share.
The 13 analysts surveyed by Zacks Investment Research expected earnings of $1.39 per share on average....
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