Union Pacific 2Q profit falls 19 percent as volume slows
CEO Lance Fritz said Thursday that volumes are likely to remain weak through the rest of the year because of the soft global economy, strong U.S. dollar and weak consumer demand. The Omaha, Nebraska-based company reported net income of $979 million, or $1.17 per share. The 14 analysts surveyed by Zacks Investment Research predicted earnings of $1.17 per share on average. Union Pacific said shipments slowed in every category except agricultural goods.