聯合太平洋公司（NYSE:UNP）的股價在該公司發佈混合的第四季度業績後上漲。 聯合太平洋報告稱，營業收入同比下降1%至61.21億美元，低於61.43億美元的市場預期。 燃油附加費下降、不利的業務組合和其他收入減少影響了營業收入，部分被較高的銷售量和定價收益所抵消。 貨運收入爲57.89億美元，其中大宗貨物同比下降4%，工業貨物同比增長1%，高級貨物同比增長3%。載貨車次同比增長5%。 每股收益爲2.91美元（同比增長7%），高於市場預期的2.78美元。 儘管因人員配置協議影響了70個基點，但運營比率改善了220個基點至58.7%，而營業收入增長了5%達到25億美元。 聯合太平洋報告，第四季度貨車速度爲每天行駛219英里，較去年同比增長1%；機車生產力爲每馬力每日完成136噸英里（GTMs），下降了3%。 每加侖消耗燃油的平均價格同比下降24%至2.41美元。聯合太平洋季度的人均勞動生產率提高了6%達到每名員工1118英里。 聯合太平洋2024財年的運營現金流總計93.46億美元，而去年爲83.79億美元。自由現金流爲28.08億美元。 2025年前景：聯合太平洋預計，受混合經濟條件、煤炭需求波動以及國際多式聯運的同比對比挑戰的影響，業務量將受到影響。 定價預計將推動運營比率改善，每股收益預計將在未來三年內達到高個位數至低雙位數增長。 公司重申其長期戰略，計劃資本支出34億美元，股票回購40億至45億美元，並專注於行業領先的效率和回報。 股價走勢：截至週四最後一次查看，聯合太平洋股價上漲4.6%，至246.69美元。

以上內容來自Benzinga Earnings專欄，原文如下：

Union Pacific Corporation (NYSE:UNP) shares are trading higher after the company reported mixed fourth-quarter results.

Union Pacific reported operating revenue decline of 1% year-over-year to $6.121 billion, missing the consensus of $6.143 billion.

Lower fuel surcharges, an unfavorable business mix, and reduced other revenue impacted operating revenue, partially offset by higher volume and pricing gains.

Freight revenue was $5.789 billion, with Bulk -4% YoY, Industrial +1%, and Premium +3%. Revenue carloads were up 5%.

Earnings per share were $2.91 (+7% year-over-year), above the consensus of $2.78.

The operating ratio improved 220 bps to 58.7%, despite a 70 bps impact from a crew staffing agreement, while operating income increased 5% to $2.5 billion.

Union Pacific reported fourth-quarter freight car velocity of 219 daily miles per car, +1% YoY, and locomotive productivity of 136 gross ton-miles (GTMs) per horsepower day, a 3% decline.

The average fuel price per gallon consumed declined by 24% year over year to $2.41. Union Pacific’s quarterly workforce productivity improved by 6% to 1,118 car miles per employee.

Union Pacific’s operating cash flow for the fiscal 2024 totaled $9.346 billion, up from $8.379 billion a year ago. Free cash flow was $2.808 billion.

2025 Outlook: Union Pacific anticipates that volume will be impacted by mixed economic conditions, fluctuating coal demand, and challenging year-over-year comparisons in international intermodal.

Pricing is expected to drive improvements in the operating ratio, with earnings per share growth projected to reach high-single to low-double digits over the next three years.

The company reaffirms its long-term strategy with a $3.4 billion capital plan, $4.0–$4.5 billion in share repurchases, and a focus on industry-leading efficiency and returns.

Price Action: Union Pacific shares are trading higher by 4.6% at $246.69 at the last check Thursday.

Image: Courtesy of Union Pacific Corporation