Union Pacific Corporation (UNP) has reported 9.50 percent rise in profit for the quarter ended Mar. 31, 2017. The company has earned $1,072 million, or $1.32 a share in the quarter, compared with $979 million, or $1.16 a share for the same period last year. Revenue during the quarter grew 6.27 percent to $5,132 million from $4,829 million in the previous year period. Gross margin for the quarter contracted 234 basis points over the previous year period to 91.04 percent. Total expenses were 65.06 percent of quarterly revenues, down from 65.07 percent for the same period last year.
Operating income for the quarter was $1,793 million, compared with $1,687 million in the previous year period.
"This is a very solid start to the year, especially given the weather challenges we encountered on the Western part of our network earlier in the quarter,” said Lance Fritz, Union Pacific chairman, president and chief executive officer. “In keeping with our strategic value tracks, our engaged employees worked safely and productively under very difficult circumstances during the quarter. As a result, operations were restored quickly as we continued to focus on providing an excellent customer experience."
Operating cash flow declinesUnion Pacific Corporation has generated cash of $1,883 million from operating activities during the quarter, down 13.35 percent or $ 290 million, when compared with the last year period. The company has spent $843 million cash to meet investing activities during the quarter as against cash outgo of $672 million in the last year period.
The company has spent $1,268 million cash to carry out financing activities during the quarter as against cash outgo of $219 million in the last year period.
Cash and cash equivalents stood at $1,049 million as on Mar. 31, 2017, down 60.76 percent or $1,624 million from $2,673 million on Mar. 31, 2016.
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