Union Pacific Corp. /zigman2/quotes/209717171/composite UNP +0.58% said Tuesday that it was reaffirming previously provided financial guidance for the second quarter, but added an improved outlook for volumes. In a presentation at the Deutsche Bank Annual Global Industrials and Materials Summit, the railroad operator's Chief Financial officer Jennifer Hamann said second-quarter volume is expected to be down closer to 20%, after the company said in its first-quarter report released April 23 that carload volumes were expected to down around 25%. Hamann also said Tuesday that operating ratio for the quarter is not expected to improve. For 2020, the company said it expects to maintain its dividend. The stock fell 1.3% in morning trading, but outperformed the Dow Jones Transportation Average /zigman2/quotes/210598063/realtime DJT +0.71% , which fell 2.8%. Over the past three months, Union Pacific shares have soared 32.1%, while the Dow transports has climbed 20.9% and the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -0.0034% has advanced 14.1%.