UP “PLEASED” WITH 1ST-QUARTER RESULTS
Dick Davidson, Union Pacific chairman and chief executive officer, said he is pleased with the largest U.S. railroad's first-quarter performance.Davidson said Tuesday that the Omaha, Neb.-based railroad is comfortable with analysts' expectations. Despite the slowing economy, UP posted solid volume gains in some commodities, including coal, which was up 12 percent, he said.
While grain and intermodal volumes were flat for the first quarter, “we showed some weakness in chemicals, industrial products — paper, aluminum, steel among others — and autos,” he said.
As for the second quarter, “it's been kind of a roller coaster … and, at this point, we don't see any signs of strengthening,” Davidson said. While the company anticipates facing high fuel prices and a slow economy in the second quarter, Davidson said UP is anticipating a strengthening of the economy in the second half of 2001.
Brokerage Compliance Symposium
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
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The night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
F3: Future of Freight Festival
Industry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowThe night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowIndustry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now