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Sunday, October 26, 2008
2:18 PM | Author: Brett Bumeter - Unknown | | | Edit Post
Union Pacific is doing quite well even though the rest of the economy is in the tank. In fact, Union Pacific announced late last week that they are expecting their 4th Quarter earnings to be well above their expectations. Functioning as the nations largest railroad organization Union Pacific is expecting their long-standing contracts will lift them above the pitfalls of the current economy to the tune of an increase somewhere between $1.22 and $1.35 per share in the 4th Quarter.
Union Pacific also forecast profit above analysts' views for the full year. It anticipates earnings of US$4.50 to US$4.60 per share, compared with the current forecast of US$4.37 per share from analysts polled by Thompson Reuters.
Union Pacific had also mentioned that their overall volume to be down 5% in the 4th Quarter and about 3% for the entire year. It is amazing to see how Union Pacific has been able to utilize their track record of stability in order to shore up additional business while maintaining their mandate and quality for longstanding clients. Although they expect demand to be light next year, Union Pacific CEO Jim Young expects about a 2% drop in 2009.