展示99.1
ユニオンパシフィックが報告したサード第2024四半期の結果
|
● |
サード希薄化後1株当たり利益は$2.75で、10%増% |
|
|
● |
サード 四半期の営業利益は11%増 |
|
|
● |
サード 四半期の当期純利益は9%増加しました |
オマハ、ネブラスカ、 2024年10月24日ユニオンパシフィック・コーポレーション（nyse: UNP）は、2024年第3四半期の当期純利益が17億ドル、または希薄化後1株当たり2.75ドルであると発表しました。これは、2023年第3四半期の当期純利益が15億ドル、または希薄化後1株当たり2.51ドルであったものと比較しています。
“ユニオンパシフィックの最高経営責任者、ジム・ヴェナは、「第三四半期の結果は、当社の戦略の成功を示しています。安全性とサービスの向上が、着実な売上高成長を支え、それを第三四半期の営業利益と一株当たりの利益の二桁の向上に変えました。全ユニオンパシフィックチームは、顧客と株主のために成果を出すことに注力しており、これらの成果を活かして持続可能な長期的成功を実現することに精力を注いでいます。」
サード 四半期サマリー：2024年対2023年
財務結果：増加する売上高、出来高、コア価格の利益、および運営効率化による強力な営業利益成長
|
● |
売上高は $6.1億ドル成長しました3%の増加により、出来高とコア価格の利益が増加し、部門ミックスと燃料サーチャージ収益の減少が部分的に相殺されました。 |
|
|
● |
燃料サーチャージ収益を除く貨物収益は5成長しました%の収入車両が6%増加しました。 |
|
|
● |
営業率は60.3でした％、310ベースポイントの改善がありました。四半期燃料価格の低下は、営業率に120ベースポイントのプラスの影響を与えました。 |
|
|
● |
営業利益は24億ドル増加しました%. |
業績： 出来高増加に伴う堅調なサービスと運用効率の向上；労働生産性の四半期記録
|
● |
ユニオンパシフィックの年初以来の報告可能な人身事故率と報告可能な脱線率の両方が改善されました。 |
|
|
● |
四半期の貨車の速度が5％改善して210日になりました １日あたりの車両の距離。 |
|
|
● |
四半期の機関車生産性が5％改善して135になりました1馬力日あたりのグロストンマイル（GTM） |
|
| ● | 四半期の労働生産性は12%向上しました従業員あたりの車両マイル数が1,102に増加しました。 | |
| ● | 燃費は1.058まで1%増加しました1,000GT取締人当たりの燃料ガロンで測定されました。 |
2024年の展望
更新された
| ● | 第四四半期の結果は、第三四半期から順調であり、2023年第四四半期と比較して年々改善する見込みです。 |
確認済み
| ● | 利益見通しは、強力なサービス製品、ネットワークの効率向上、堅調な価格設定により、引き続きポジティブな勢いを維持 | |||
| ● | 2024年における約15億ドルの株の取得 | |||
| ● | インフレを上回る価格設定 | |||
|
● |
長期資本配分戦略に変更はありません |
|||
|
○ |
34億ドルの資本計画 |
|||
サード 2024年第4四半期の決算説明会コール
ユニオンパシフィックは、2024年第3四半期決算のウェブキャストを提供し、2024年10月24日木曜日の午前8時45分（東部時間）にhttps://investor.unionpacific.com および電話会議を通じてライブで行います。参加者は、航空機電話ダイヤルにより、アメリカ国内の場合は877-407-8293、国際の場合は201-689-8349にコールすることが可能です。
ユニオンパシフィックについて
ユニオンパシフィック（nyse: UNP）は、安全で信頼性の高く効率的なサービスを提供し、家族や企業が日々利用する商品を届けています。23の西部州で運営されており、同社は顧客やコミュニティをグローバル経済とつないでいます。列車は貨物を運ぶ最も環境に配慮した方法であり、ユニオンパシフィックは将来の世代を保護するために貢献しています。ユニオンパシフィックに関する詳細情報はwww.up.comでご覧いただけます。
ユニオンパシフィックの投資家連絡先: Brad Stockさん 402-544-4227 または bkstock@up.com
ユニオンパシフィックのメディア連絡窓口：Clarissa Beyah 402-957-4793またはcbeyah@up.com
補足財務情報が添付されています。
****
このニュースリリースおよび関連資料には、会社に関する将来についての声明が含まれています’歴史的事実でない会社の将来に関する声明、具体的には公衆衛生危機（パンデミック、流行病、コロナウイルスやその変異株（COVID）を含む他の伝染病の発生）の潜在的影響に関する声明を含む; ロシアウクライナやイスラエルハマスの戦争、中東における他の地政学的緊張、およびお客様、従業員、サプライチェーンを含むビジネス運営、財務結果、流動性、財務状況、および世界経済（出来高や積み荷の変動を通じて）への影響に関する声明；一般的なマクロ経済条件、景気減速、国内または国際的には不況、金利や燃料価格の変動に対する期待; 顧客の製造、流通、または生産設備の閉鎖に関する期待；運営上またはサービスの改善に関する期待; 採用の課題に関する期待; 従業員の可用性に関する期待; 運営、サービス、インフラ改善、および交通計画の変更の効果的性に関する期待; コスト削減、売上高の成長、および収益に関する期待; ゴール、ターゲット、または目標が達成される期限; ビジネス、財務、および運用結果、将来の経済的パフォーマンス、一般的な経済状況に関する予測、予想、見通し、見積もり、予測; 提案された新製品およびサービス; 環境リメディエーションおよび復元に関連する費用の見積もり; 税務に関する見積もりと期待; 請求、訴訟、環境コスト、コミットメント、潜在的負債、労使交渉または合意、サイバー攻撃、その他の事項に関する期待 これらの記述は、またはなるであろう先向きな記述であり、1933年の証券法第27条および1934年の証券取引法第21E条の意味で、一般的には、当社に関する予測、予想、期待、見積もり、または予測に関する情報または記述を含みます’及びその子会社’ ビジネス、財務、運営成績、将来の経済パフォーマンス；および経営’sの信念、期待、目標、および目的、およびその他の似たような表現に関する事項は、歴史的事実ではない。
将来を見据えた声明は将来の業績や結果の保証として読まれるべきではなく、そのような業績や結果が達成される時期や方法の正確な指標と必ずしも一致しない可能性があります。運営と財務の改善に関する期待などを含む将来を見据えた情報、および会社’の将来の業績や結果は、その声明に示されているものと大きく異なる可能性があるリスクや不確実性の影響を受けます。リスク要因を含む重要な要素が、会社’とその子会社’ の将来の結果に影響を与え、その結果やその他の結果が将来を見据えた声明に示される内容と異なる可能性があります。リスク要因やその他の注意情報についての情報は、会社’が2023年の10-Kフォームの年次報告書を2024年2月9日にSECに提出したものが入手可能です。状況によって更新が必要となる場合は、会社の四半期報告書である10-Qフォームおよびその後の10-Kフォームの年次報告書（またはSECに提出される他の報告書）にリスク要因に関する情報を更新します。
Forward-looking statements speak only as of, and are based only upon information available on, the date the statements were made. The Company assumes no obligation to update forward-looking information to reflect actual results, changes in assumptions, or changes in other factors affecting forward-looking information. If the Company does update one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements. References to the Company’s website are provided for convenience and, therefore, information on or available through the website is not, and should not be deemed to be, incorporated by reference herein.
###
UNION PACIFIC CORPORATION AND SUBSIDIARY COMPANIES
Condensed Consolidated Statements of Income (unaudited)
|
Millions, Except Per Share Amounts and |
3rd Quarter |
Year-to-Date |
||||||||||||||||||||||||
|
Percentages, For the Periods Ended September 30, |
2024 |
2023 |
% |
2024 |
2023 |
% | ||||||||||||||||||||
|
Operating Revenues |
||||||||||||||||||||||||||
|
Freight revenues |
$ | 5,768 | $ | 5,545 | 4 | % | $ | 17,022 | $ | 16,770 | 2 | % | ||||||||||||||
|
Other revenues |
323 | 396 | (18 | ) | 1,107 | 1,190 | (7 | ) | ||||||||||||||||||
|
Total operating revenues |
6,091 | 5,941 | 3 | 18,129 | 17,960 | 1 | ||||||||||||||||||||
|
Operating Expenses |
||||||||||||||||||||||||||
|
Compensation and benefits |
1,228 | 1,201 | 2 | 3,638 | 3,649 | - | ||||||||||||||||||||
|
Purchased services and materials |
644 | 668 | (4 | ) | 1,901 | 1,971 | (4 | ) | ||||||||||||||||||
|
Fuel |
610 | 702 | (13 | ) | 1,893 | 2,132 | (11 | ) | ||||||||||||||||||
|
Depreciation |
602 | 580 | 4 | 1,792 | 1,729 | 4 | ||||||||||||||||||||
|
Equipment and other rents |
237 | 235 | 1 | 672 | 718 | (6 | ) | |||||||||||||||||||
|
Other |
354 | 378 | (6 | ) | 1,045 | 1,086 | (4 | ) | ||||||||||||||||||
|
Total operating expenses |
3,675 | 3,764 | (2 | ) | 10,941 | 11,285 | (3 | ) | ||||||||||||||||||
|
Operating Income |
2,416 | 2,177 | 11 | 7,188 | 6,675 | 8 | ||||||||||||||||||||
|
Other income, net |
87 | 106 | (18 | ) | 282 | 383 | (26 | ) | ||||||||||||||||||
|
Interest expense |
(314 | ) | (334 | ) | (6 | ) | (957 | ) | (1,009 | ) | (5 | ) | ||||||||||||||
|
Income before income taxes |
2,189 | 1,949 | 12 | 6,513 | 6,049 | 8 | ||||||||||||||||||||
|
Income tax expense |
(518 | ) | (421 | ) | 23 | (1,528 | ) | (1,322 | ) | 16 | ||||||||||||||||
|
Net Income |
$ | 1,671 | $ | 1,528 | 9 | % | $ | 4,985 | $ | 4,727 | 5 | % | ||||||||||||||
|
Share and Per Share |
||||||||||||||||||||||||||
|
Earnings per share - basic |
$ | 2.75 | $ | 2.51 | 10 | % | $ | 8.19 | $ | 7.76 | 6 | % | ||||||||||||||
|
Earnings per share - diluted |
$ | 2.75 | $ | 2.51 | 10 | $ | 8.18 | $ | 7.75 | 6 | ||||||||||||||||
|
Weighted average number of shares - basic |
607.6 | 608.7 | - | 608.7 | 609.3 | - | ||||||||||||||||||||
|
Weighted average number of shares - diluted |
608.6 | 609.8 | - | 609.7 | 610.3 | - | ||||||||||||||||||||
|
Dividends declared per share |
$ | 1.34 | $ | 1.30 | 3 | $ | 3.94 | $ | 3.90 | 1 | ||||||||||||||||
|
Operating Ratio |
60.3 | % | 63.4 | % | (3.1 | ) |
pts |
60.4 | % | 62.8 | % | (2.4 | ) |
pts |
||||||||||||
|
Effective Tax Rate |
23.7 | % | 21.6 | % | 2.1 |
pts |
23.5 | % | 21.9 | % | 1.6 |
pts |
||||||||||||||
UNION PACIFIC CORPORATION AND SUBSIDIARY COMPANIES
Freight Revenues Statistics (unaudited)
|
3rd Quarter |
Year-to-Date |
|||||||||||||||||||||||
|
For the Periods Ended September 30, |
2024 |
2023 |
% |
2024 |
2023 |
% |
||||||||||||||||||
|
Freight Revenues (Millions) |
||||||||||||||||||||||||
|
Grain & grain products |
$ | 923 | $ | 825 | 12 | % | $ | 2,767 | $ | 2,658 | 4 | % | ||||||||||||
|
Fertilizer |
208 | 194 | 7 | 612 | 563 | 9 | ||||||||||||||||||
|
Food & refrigerated |
269 | 259 | 4 | 832 | 777 | 7 | ||||||||||||||||||
|
Coal & renewables |
405 | 488 | (17 | ) | 1,132 | 1,422 | (20 | ) | ||||||||||||||||
|
Bulk |
1,805 | 1,766 | 2 | 5,343 | 5,420 | (1 | ) | |||||||||||||||||
|
Industrial chemicals & plastics |
598 | 557 | 7 | 1,763 | 1,638 | 8 | ||||||||||||||||||
|
Metals & minerals |
529 | 556 | (5 | ) | 1,574 | 1,654 | (5 | ) | ||||||||||||||||
|
Forest products |
322 | 333 | (3 | ) | 1,002 | 1,012 | (1 | ) | ||||||||||||||||
|
Energy & specialized markets |
672 | 611 | 10 | 2,009 | 1,856 | 8 | ||||||||||||||||||
|
Industrial |
2,121 | 2,057 | 3 | 6,348 | 6,160 | 3 | ||||||||||||||||||
|
Automotive |
601 | 609 | (1 | ) | 1,871 | 1,821 | 3 | |||||||||||||||||
|
Intermodal |
1,241 | 1,113 | 12 | 3,460 | 3,369 | 3 | ||||||||||||||||||
|
Premium |
1,842 | 1,722 | 7 | 5,331 | 5,190 | 3 | ||||||||||||||||||
|
Total |
$ | 5,768 | $ | 5,545 | 4 | % | $ | 17,022 | 16,770 | 2 | % | |||||||||||||
|
Revenue Carloads (Thousands) |
||||||||||||||||||||||||
|
Grain & grain products |
206 | 183 | 13 | % | 616 | 582 | 6 | % | ||||||||||||||||
|
Fertilizer |
53 | 51 | 4 | 162 | 144 | 13 | ||||||||||||||||||
|
Food & refrigerated |
45 | 45 | - | 137 | 133 | 3 | ||||||||||||||||||
|
Coal & renewables |
192 | 231 | (17 | ) | 527 | 650 | (19 | ) | ||||||||||||||||
|
Bulk |
496 | 510 | (3 | ) | 1,442 | 1,509 | (4 | ) | ||||||||||||||||
|
Industrial chemicals & plastics |
169 | 163 | 4 | 502 | 484 | 4 | ||||||||||||||||||
|
Metals & minerals |
186 | 206 | (10 | ) | 540 | 604 | (11 | ) | ||||||||||||||||
|
Forest products |
53 | 54 | (2 | ) | 161 | 161 | - | |||||||||||||||||
|
Energy & specialized markets |
152 | 146 | 4 | 453 | 429 | 6 | ||||||||||||||||||
|
Industrial |
560 | 569 | (2 | ) | 1,656 | 1,678 | (1 | ) | ||||||||||||||||
|
Automotive |
202 | 210 | (4 | ) | 627 | 623 | 1 | |||||||||||||||||
|
Intermodal [a] |
909 | 763 | 19 | 2,446 | 2,246 | 9 | ||||||||||||||||||
|
Premium |
1,111 | 973 | 14 | 3,073 | 2,869 | 7 | ||||||||||||||||||
|
Total |
2,167 | 2,052 | 6 | % | 6,171 | 6,056 | 2 | % | ||||||||||||||||
|
Average Revenue per Car |
||||||||||||||||||||||||
|
Grain & grain products |
$ | 4,498 | $ | 4,486 | - | % | $ | 4,495 | $ | 4,563 | (1 | )% | ||||||||||||
|
Fertilizer |
3,872 | 3,818 | 1 | 3,775 | 3,921 | (4 | ) | |||||||||||||||||
|
Food & refrigerated |
6,099 | 5,847 | 4 | 6,090 | 5,850 | 4 | ||||||||||||||||||
|
Coal & renewables |
2,101 | 2,114 | (1 | ) | 2,147 | 2,187 | (2 | ) | ||||||||||||||||
|
Bulk |
3,641 | 3,465 | 5 | 3,706 | 3,592 | 3 | ||||||||||||||||||
|
Industrial chemicals & plastics |
3,534 | 3,406 | 4 | 3,509 | 3,381 | 4 | ||||||||||||||||||
|
Metals & minerals |
2,847 | 2,688 | 6 | 2,918 | 2,736 | 7 | ||||||||||||||||||
|
Forest products |
6,157 | 6,197 | (1 | ) | 6,235 | 6,305 | (1 | ) | ||||||||||||||||
|
Energy & specialized markets |
4,415 | 4,201 | 5 | 4,431 | 4,331 | 2 | ||||||||||||||||||
|
Industrial |
3,791 | 3,612 | 5 | 3,833 | 3,671 | 4 | ||||||||||||||||||
|
Automotive |
2,968 | 2,894 | 3 | 2,983 | 2,921 | 2 | ||||||||||||||||||
|
Intermodal [a] |
1,365 | 1,459 | (6 | ) | 1,414 | 1,500 | (6 | ) | ||||||||||||||||
|
Premium |
1,657 | 1,769 | (6 | ) | 1,735 | 1,809 | (4 | ) | ||||||||||||||||
|
Average |
$ | 2,662 | $ | 2,702 | (1 | )% | $ | 2,758 | $ | 2,769 | - | % | ||||||||||||
|
[a] |
For intermodal shipments each container or trailer equals one carload. |
UNION PACIFIC CORPORATION AND SUBSIDIARY COMPANIES
Condensed Consolidated Statements of Financial Position (unaudited)
|
Sep. 30, |
Dec. 31, | |||||||
|
Millions, Except Percentages |
2024 |
2023 |
||||||
|
Assets |
||||||||
|
Cash and cash equivalents |
$ | 947 | $ | 1,055 | ||||
|
Short-term investments |
20 | 16 | ||||||
|
Other current assets |
3,182 | 3,077 | ||||||
|
Investments |
2,649 | 2,605 | ||||||
|
Properties, net |
58,036 | 57,398 | ||||||
|
Operating lease assets |
1,345 | 1,643 | ||||||
|
Other assets |
1,391 | 1,338 | ||||||
|
Total assets |
$ | 67,570 | $ | 67,132 | ||||
|
Liabilities and Common Shareholders' Equity |
||||||||
|
Debt due within one year |
$ | 1,652 | $ | 1,423 | ||||
|
Other current liabilities |
3,714 | 3,683 | ||||||
|
Debt due after one year |
29,761 | 31,156 | ||||||
|
Operating lease liabilities |
934 | 1,245 | ||||||
|
Deferred income taxes |
13,199 | 13,123 | ||||||
|
Other long-term liabilities |
1,726 | 1,714 | ||||||
|
Total liabilities |
50,986 | 52,344 | ||||||
|
Total common shareholders' equity |
16,584 | 14,788 | ||||||
|
Total liabilities and common shareholders' equity |
$ | 67,570 | $ | 67,132 | ||||
UNION PACIFIC CORPORATION AND SUBSIDIARY COMPANIES
Condensed Consolidated Statements of Cash Flows (unaudited)
| Year-to-Date | ||||||
|
Millions, for the Periods Ended September 30, |
2024 |
2023 |
||||
|
Operating Activities |
||||||
|
Net income |
$ | 4,985 | $ | 4,727 | ||
|
Depreciation |
1,792 | 1,729 | ||||
|
Deferred and other income taxes |
77 | 59 | ||||
|
Other - net |
(170 | ) | (531 | ) | ||
|
Cash provided by operating activities |
6,684 | 5,984 | ||||
|
Investing Activities |
||||||
|
Capital investments* |
(2,530 | ) | (2,582 | ) | ||
|
Other - net |
104 | (68 | ) | |||
|
Cash used in investing activities |
(2,426 | ) | (2,650 | ) | ||
|
Financing Activities |
||||||
|
Dividends paid |
(2,403 | ) | (2,380 | ) | ||
|
Debt repaid |
(2,220 | ) | (2,179 | ) | ||
|
Share repurchase programs |
(831 | ) | (705 | ) | ||
|
Debt issued |
800 | 1,599 | ||||
|
Other - net |
279 | 125 | ||||
|
Cash used in financing activities |
(4,375 | ) | (3,540 | ) | ||
|
Net change in cash, cash equivalents, and restricted cash |
(117 | ) | (206 | ) | ||
|
Cash, cash equivalents, and restricted cash at beginning of year |
1,074 | 987 | ||||
|
Cash, cash equivalents, and restricted cash at end of period |
$ | 957 | $ | 781 | ||
|
Free Cash Flow** |
||||||
|
Cash provided by operating activities |
$ | 6,684 | $ | 5,984 | ||
|
Cash used in investing activities |
(2,426 | ) | (2,650 | ) | ||
|
Dividends paid |
(2,403 | ) | (2,380 | ) | ||
|
Free cash flow |
$ | 1,855 | $ | 954 | ||
|
* |
Capital investments include locomotive and freight car early lease buyouts of $96 million in 2024 and $14 million in 2023. |
| ** | Free cash flow is a non-GAAP measure; however, we believe this measure is important to management and investors in evaluating our financial performance and measures our ability to generate cash without additional external financing. |
UNION PACIFIC CORPORATION AND SUBSIDIARY COMPANIES
Operating and Performance Statistics (unaudited)
|
3rd Quarter |
Year-to-Date |
|||||||||||||||||||||||||
|
For the Periods Ended September 30, |
2024 |
2023 |
% |
2024 |
2023 |
% | ||||||||||||||||||||
|
Operating/Performance Statistics |
||||||||||||||||||||||||||
|
Freight car velocity (daily miles per car)* |
210 | 200 | 5 | % | 205 | 199 | 3 | % | ||||||||||||||||||
|
Average train speed (miles per hour)* |
23.3 | 23.6 | (1 | ) | 23.5 | 23.9 | (2 | ) | ||||||||||||||||||
|
Average terminal dwell time (hours)* |
22.4 | 23.5 | (5 | ) | 22.8 | 23.6 | (3 | ) | ||||||||||||||||||
|
Locomotive productivity (GTMs per horsepower day) |
135 | 129 | 5 | 135 | 126 | 7 | ||||||||||||||||||||
|
Gross ton-miles (GTMs) (millions) |
215,993 | 208,678 | 4 | 628,828 | 622,932 | 1 | ||||||||||||||||||||
|
Train length (feet) |
9,580 | 9,537 | - | 9,472 | 9,337 | 1 | ||||||||||||||||||||
|
Intermodal service performance index (%) |
86 | 85 | 1 |
pts |
90 | 85 | 5 |
pts |
||||||||||||||||||
|
Manifest/Automotive service performance index (%) |
89 | 84 | 5 |
pts |
87 | 83 | 4 |
pts |
||||||||||||||||||
|
Intermodal car trip plan compliance (%)** |
76 | 75 | 1 |
pts |
80 | 75 | 5 |
pts |
||||||||||||||||||
|
Manifest/Automotive car trip plan compliance (%)** |
68 | 64 | 4 |
pts |
66 | 63 | 3 |
pts |
||||||||||||||||||
|
Workforce productivity (car miles per employee) |
1,102 | 985 | 12 | 1,044 | 984 | 6 | ||||||||||||||||||||
|
Total employees (average) |
29,946 | 31,624 | (5 | ) | 30,518 | 31,800 | (4 | ) | ||||||||||||||||||
|
Locomotive Fuel Statistics |
||||||||||||||||||||||||
|
Average fuel price per gallon consumed |
$ | 2.60 | $ | 3.12 | (17 | )% | $ | 2.71 | $ | 3.07 | (12 | )% | ||||||||||||
|
Fuel consumed in gallons (millions) |
229 | 219 | 5 | 681 | 677 | 1 | ||||||||||||||||||
|
Fuel consumption rate*** |
1.058 | 1.052 | 1 | 1.084 | 1.087 | - |
|
Revenue Ton-Miles (Millions) |
||||||||||||||||||||||||
|
Grain & grain products |
20,451 | 17,649 | 16 | % | 61,095 | 56,551 | 8 | % | ||||||||||||||||
|
Fertilizer |
3,056 | 2,982 | 2 | 9,913 | 9,071 | 9 | ||||||||||||||||||
|
Food & refrigerated |
4,624 | 4,643 | - | 14,234 | 13,700 | 4 | ||||||||||||||||||
|
Coal & renewables |
19,746 | 23,367 | (15 | ) | 54,980 | 66,728 | (18 | ) | ||||||||||||||||
|
Bulk |
47,877 | 48,641 | (2 | ) | 140,222 | 146,050 | (4 | ) | ||||||||||||||||
|
Industrial chemicals & plastics |
7,483 | 7,492 | - | 22,979 | 21,797 | 5 | ||||||||||||||||||
|
Metals & minerals |
8,414 | 9,253 | (9 | ) | 24,780 | 27,409 | (10 | ) | ||||||||||||||||
|
Forest products |
5,355 | 5,636 | (5 | ) | 16,598 | 17,000 | (2 | ) | ||||||||||||||||
|
Energy & specialized markets |
10,420 | 9,621 | 8 | 31,235 | 28,937 | 8 | ||||||||||||||||||
|
Industrial |
31,672 | 32,002 | (1 | ) | 95,592 | 95,143 | - | |||||||||||||||||
|
Automotive |
4,558 | 4,624 | (1 | ) | 13,973 | 13,711 | 2 | |||||||||||||||||
|
Intermodal |
19,928 | 17,765 | 12 | 55,505 | 53,452 | 4 | ||||||||||||||||||
|
Premium |
24,486 | 22,389 | 9 | 69,478 | 67,163 | 3 | ||||||||||||||||||
|
Total |
104,035 | 103,032 | 1 | % | 305,292 | 308,356 | (1 | )% |
|
* |
Surface Transportation Board (STB) reported performance measures. |
| ** |
Methodology used to report is not comparable with the reporting to the STB under docket number EP 770. |
| *** | Fuel consumption is computed as follows: gallons of fuel consumed divided by gross ton-miles in thousands. |
UNION PACIFIC CORPORATION AND SUBSIDIARY COMPANIES
Condensed Consolidated Statements of Income (unaudited)
|
2024 |
||||||||||||||||
|
Millions, Except Per Share Amounts and Percentages, |
1st Qtr |
2nd Qtr |
3rd Qtr |
Year-to-Date |
||||||||||||
|
Operating Revenues |
||||||||||||||||
|
Freight revenues |
$ | 5,616 | $ | 5,638 | $ | 5,768 | $ | 17,022 | ||||||||
|
Other revenues |
415 | 369 | 323 | 1,107 | ||||||||||||
|
Total operating revenues |
6,031 | 6,007 | 6,091 | 18,129 | ||||||||||||
|
Operating Expenses |
||||||||||||||||
|
Compensation and benefits |
1,223 | 1,187 | 1,228 | 3,638 | ||||||||||||
|
Purchased services and materials |
613 | 644 | 644 | 1,901 | ||||||||||||
|
Fuel |
658 | 625 | 610 | 1,893 | ||||||||||||
|
Depreciation |
594 | 596 | 602 | 1,792 | ||||||||||||
|
Equipment and other rents |
216 | 219 | 237 | 672 | ||||||||||||
|
Other |
355 | 336 | 354 | 1,045 | ||||||||||||
|
Total operating expenses |
3,659 | 3,607 | 3,675 | 10,941 | ||||||||||||
|
Operating Income |
2,372 | 2,400 | 2,416 | 7,188 | ||||||||||||
|
Other income, net |
92 | 103 | 87 | 282 | ||||||||||||
|
Interest expense |
(324 | ) | (319 | ) | (314 | ) | (957 | ) | ||||||||
|
Income before income taxes |
2,140 | 2,184 | 2,189 | 6,513 | ||||||||||||
|
Income tax expense |
(499 | ) | (511 | ) | (518 | ) | (1,528 | ) | ||||||||
|
Net Income |
$ | 1,641 | $ | 1,673 | $ | 1,671 | $ | 4,985 | ||||||||
|
Share and Per Share |
||||||||||||||||
|
Earnings per share - basic |
$ | 2.69 | $ | 2.75 | $ | 2.75 | $ | 8.19 | ||||||||
|
Earnings per share - diluted |
$ | 2.69 | $ | 2.74 | $ | 2.75 | $ | 8.18 | ||||||||
|
Weighted average number of shares - basic |
609.2 | 609.4 | 607.6 | 608.7 | ||||||||||||
|
Weighted average number of shares - diluted |
610.2 | 610.3 | 608.6 | 609.7 | ||||||||||||
|
Dividends declared per share |
$ | 1.30 | $ | 1.30 | $ | 1.34 | $ | 3.94 | ||||||||
|
Operating Ratio |
60.7 | % | 60.0 | % | 60.3 | % | 60.4 | % | ||||||||
|
Effective Tax Rate |
23.3 | % | 23.4 | % | 23.7 | % | 23.5 | % | ||||||||
UNION PACIFIC CORPORATION AND SUBSIDIARY COMPANIES
Freight Revenue Statistics (unaudited)
|
2024 |
||||||||||||||||
|
1st Qtr |
2nd Qtr |
3rd Qtr |
Year-to-Date |
|||||||||||||
|
Freight Revenues (Millions) |
||||||||||||||||
|
Grain & grain products |
$ | 943 | $ | 901 | $ | 923 | $ | 2,767 | ||||||||
|
Fertilizer |
201 | 203 | 208 | 612 | ||||||||||||
|
Food & refrigerated |
285 | 278 | 269 | 832 | ||||||||||||
|
Coal & renewables |
388 | 339 | 405 | 1,132 | ||||||||||||
|
Bulk |
1,817 | 1,721 | 1,805 | 5,343 | ||||||||||||
|
Industrial chemicals & plastics |
572 | 593 | 598 | 1,763 | ||||||||||||
|
Metals & minerals |
515 | 530 | 529 | 1,574 | ||||||||||||
|
Forest products |
338 | 342 | 322 | 1,002 | ||||||||||||
|
Energy & specialized markets |
679 | 658 | 672 | 2,009 | ||||||||||||
|
Industrial |
2,104 | 2,123 | 2,121 | 6,348 | ||||||||||||
|
Automotive |
611 | 659 | 601 | 1,871 | ||||||||||||
|
Intermodal |
1,084 | 1,135 | 1,241 | 3,460 | ||||||||||||
|
Premium |
1,695 | 1,794 | 1,842 | 5,331 | ||||||||||||
|
Total |
$ | 5,616 | $ | 5,638 | $ | 5,768 | $ | 17,022 | ||||||||
|
Revenue Carloads (Thousands) |
||||||||||||||||
|
Grain & grain products |
210 | 200 | 206 | 616 | ||||||||||||
|
Fertilizer |
47 | 62 | 53 | 162 | ||||||||||||
|
Food & refrigerated |
46 | 46 | 45 | 137 | ||||||||||||
|
Coal & renewables |
177 | 158 | 192 | 527 | ||||||||||||
|
Bulk |
480 | 466 | 496 | 1,442 | ||||||||||||
|
Industrial chemicals & plastics |
164 | 169 | 169 | 502 | ||||||||||||
|
Metals & minerals |
170 | 184 | 186 | 540 | ||||||||||||
|
Forest products |
53 | 55 | 53 | 161 | ||||||||||||
|
Energy & specialized markets |
154 | 147 | 152 | 453 | ||||||||||||
|
Industrial |
541 | 555 | 560 | 1,656 | ||||||||||||
|
Automotive |
207 | 218 | 202 | 627 | ||||||||||||
|
Intermodal [a] |
739 | 798 | 909 | 2,446 | ||||||||||||
|
Premium |
946 | 1,016 | 1,111 | 3,073 | ||||||||||||
|
Total |
1,967 | 2,037 | 2,167 | 6,171 | ||||||||||||
|
Average Revenue per Car |
||||||||||||||||
|
Grain & grain products |
$ | 4,494 | $ | 4,493 | $ | 4,498 | $ | 4,495 | ||||||||
|
Fertilizer |
4,271 | 3,311 | 3,872 | 3,775 | ||||||||||||
|
Food & refrigerated |
6,231 | 5,943 | 6,099 | 6,090 | ||||||||||||
|
Coal & renewables |
2,189 | 2,156 | 2,101 | 2,147 | ||||||||||||
|
Bulk |
3,787 | 3,692 | 3,641 | 3,706 | ||||||||||||
|
Industrial chemicals & plastics |
3,486 | 3,507 | 3,534 | 3,509 | ||||||||||||
|
Metals & minerals |
3,030 | 2,885 | 2,847 | 2,918 | ||||||||||||
|
Forest products |
6,297 | 6,249 | 6,157 | 6,235 | ||||||||||||
|
Energy & specialized markets |
4,416 | 4,462 | 4,415 | 4,431 | ||||||||||||
|
Industrial |
3,886 | 3,825 | 3,791 | 3,833 | ||||||||||||
|
Automotive |
2,947 | 3,033 | 2,968 | 2,983 | ||||||||||||
|
Intermodal [a] |
1,468 | 1,421 | 1,365 | 1,414 | ||||||||||||
|
Premium |
1,792 | 1,766 | 1,657 | 1,735 | ||||||||||||
|
Average |
$ | 2,855 | $ | 2,768 | $ | 2,662 | $ | 2,758 | ||||||||
|
[a] |
For intermodal shipments each container or trailer equals one carload. |
UNION PACIFIC CORPORATION AND SUBSIDIARY COMPANIES
Non-GAAP Measures Reconciliation to GAAP (unaudited)
|
Debt / Net Income |
||||||||
|
Millions, Except Ratios |
Sep. 30, |
Dec. 31, |
||||||
|
for the Trailing Twelve Months Ended [a] |
2024 |
2023 |
||||||
|
Debt |
$ | 31,413 | $ | 32,579 | ||||
|
Net income |
6,637 | 6,379 | ||||||
|
Debt / net income |
4.7 | 5.1 | ||||||
|
Adjusted Debt / Adjusted EBITDA* |
||||||||
|
Millions, Except Ratios |
Sep. 30, |
Dec. 31, |
||||||
|
for the Trailing Twelve Months Ended [a] |
2024 |
2023 |
||||||
|
Net income |
$ | 6,637 | $ | 6,379 | ||||
|
Add: |
||||||||
|
Income tax expense |
2,060 | 1,854 | ||||||
|
Depreciation |
2,381 | 2,318 | ||||||
|
Interest expense |
1,288 | 1,340 | ||||||
|
EBITDA |
$ | 12,366 | $ | 11,891 | ||||
|
Adjustments: |
||||||||
|
Other income, net |
(390 | ) | (491 | ) | ||||
|
Interest on operating lease liabilities [b] |
47 | 58 | ||||||
|
Adjusted EBITDA |
$ | 12,023 | $ | 11,458 | ||||
|
Debt |
$ | 31,413 | $ | 32,579 | ||||
|
Operating lease liabilities |
1,283 | 1,600 | ||||||
|
Adjusted debt |
$ | 32,696 | $ | 34,179 | ||||
|
Adjusted debt / adjusted EBITDA |
2.7 | 3.0 | ||||||
| [a] | The trailing twelve months income statement information ended September 30, 2024, is recalculated by taking the twelve months ended December 31, 2023, subtracting the nine months ended September 30, 2023, and adding the nine months ended September 30, 2024. |
| [b] | Represents the hypothetical interest expense we would incur (using the incremental borrowing rate) if the property under our operating leases were owned or accounted for as finance leases. |
|
* |
Adjusted debt (total debt plus operating lease liabilities plus after-tax unfunded pension and OPEB (other post-retirement benefit) obligations) to adjusted EBITDA (earnings before interest, taxes, depreciation, amortization, and adjustments for other income and interest on present value of operating leases) is considered a non-GAAP financial measure by SEC Regulation G and Item 10 of SEC Regulation S-K and may not be defined and calculated by other companies in the same manner. We believe this measure is important to management and investors in evaluating the Company’s ability to sustain given debt levels (including leases) with the cash generated from operations. In addition, a comparable measure is used by rating agencies when reviewing the Company’s credit rating. Adjusted debt to adjusted EBITDA should be considered in addition to, rather than as a substitute for, other information provided in accordance with GAAP. The most comparable GAAP measure is debt to net income ratio. The tables above provide reconciliations from net income to adjusted EBITDA, debt to adjusted debt, and debt to net income to adjusted debt to adjusted EBITDA. At September 30, 2024, and December 31, 2023, the incremental borrowing rate on operating leases was 3.7% and 3.6%, respectively. Pension and OPEB were funded at September 30, 2024, and December 31, 2023. |