Photo illustration: Xingpei ShenUnion Pacific Corp. reported lower operating income as softening volumes from customers, higher costs from weather interruptions in California and inflation kept profits muted in the most recent quarter.
The railroad said operating income declined 3% year-over-year in the first quarter while business volumes fell 1% as fewer carloads of industrial chemicals, forest products and grain offset higher demand from the automotive industry, the Omaha, Neb.-based railroad said.
Freight revenue rose 4% to $5.7 billion.