Union Pacific missed Wall Street estimates on earnings
The railroad company’s fourth-quarter earnings came in at $2.02 a share, compared to analysts’ expectations of $2.07 a share. The figure was also below the year-ago level of $2.12.
Revenue fell -9.5% from the year-ago quarter to $5.21 billion, below Wall Street's estimate of $5.22 billion.
Union Pacific has plans to cut its average number of workers by around 8% in 2020. This follows its -11% reduction of staffing in 2019.