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UP to announce 3Q Thursday before the bell

HUTCHINSON, Kan. — Hurricane Harvey could have some residual effect on Union Pacific as the nation’s largest railroad prepares to release its third quarter earnings report on Thursday.

The company says that it expects the storm to hurt its bottom line to the tune of approximately 5 cents per share in the third quarter. It also expects automotive, ag and chemical shipments to be flat or down from the previous quarter. Those numbers may be offset by continued increases in coal shipments.

While the railroad is back to hiring train crews and putting its mothballed fleet back into service, it is still in the cost-cutting mode as the railroad plans to release about 750 non-transportation workers in the near future.

UP operates about 25 trains per day through Hutchinson and is one of the top five property taxpayers in the county.

The earnings parade continues next Tuesday when ADM releases its earnings news, followed by Siemens/Gamesa Nov. 6 and Tyson Nov. 13.

 

 

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