Union Pacific (UNP.N) reported a 19% fall in quarterly profit on Thursday, as higher labor costs and lower volumes outweighed the benefits from price hikes implemented by the railroad operator.
Union Pacific livery on the side of a cargo locomotive is pictured ahead of a possible strike if there is no deal with the rail worker unions, at Union Station in Los Angeles, California, U.S., September 15, 2022. REUTERS/Bing Guan/File Photoreported a 19% fall in quarterly profit on Thursday, as higher labor costs and lower volumes outweighed the benefits from price hikes implemented by the railroad operator.
"We faced many challenges in the quarter, including continued inflationary pressures and a drop in carloads," said Chief Executive Officer Jim Vena.
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