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Stock impact report

Union Pacific profit climbed 5% as it builds the case for its acquisition of rival Norfolk Southern [Globe and Mail, The (Toronto, Canada)]

Norfolk Southern Corporation (NSC) 
Last norfolk southern corporation earnings: 4/29 08:00 am Check Earnings Report
that its $85 billion acquisition of eastern rival Norfolk Southern is a good idea. The Omaha, Nebraska-based railroad said Thursday that it earned $1.7 billion, or $2.87 per share. but it estimated that merger-related costs weighed down the results by 6 cents per share. That's still up from last year's $1.63 billion, or $2.70 per share. And the results topped the $2.86 per share that the analysts surveyed by FactSet Research expected. Union Pacific CEO Jim Vena said the railroad continued to get more efficient during the quarter as it benefited higher rates even as it prepared its case for the merger. “Our safety, service, and operating momentum continued in the first quarter as we further challenged ‘what's possible' from our great railroad,” Vena said. The railroad's revenue grew 3% to $6.22 billion even though it hauled about 1% fewer shipments. That's because the rates it charges continued to increase and the railroad benefited from fuel surcharge fees. Union Pacific's e Show less Read more
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