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June 2, 2020, 2:03 p.m. EDT

Union Pacific's stock gains after 'more optimistic' outlook on volumes

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By Tomi Kilgore

Shares of Union Pacific Corp. /zigman2/quotes/209717171/composite UNP +0.69% rose 1.1% in afternoon trading Tuesday, putting them on track to snap a 3-day losing streak, after the railroad operator provided a optimistic volume outlook at an industry conference. Chief Financial Officer Jennifer Hamann said at the UBS Global Industrials and Transportation Conference that the company was "feeling just a tad more optimistic" on volumes, and "it does feel like things have maybe bottomed a little bit," according to a transcript provided by FactSet. She said second-quarter volumes were tracking at down 23% from a year ago, which compares with guidance provided in April of "down around 25%," amid the COVID-19 pandemic. Hamann said that "it's hard to call the bottom," given all the uncertainty surrounding reopenings of businesses and whether there will be a resurgence in outbreak with the coronavirus. "But the last couple weeks with the auto manufacturers opening back up, I would say the trend is looking a little bit better and it's making everyone feel maybe just a little bit more confident that we're on the right path here," Hamann said. The stock has gained 6.9% over the past three months, while the Dow Jones Transportation Average /zigman2/quotes/210598063/realtime DJT +0.20% has slipped 3.4% and the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +0.20% has lost 3.9%.

/zigman2/quotes/209717171/composite
US : U.S.: NYSE
$ 195.67
+1.35 +0.69%
Volume: 1.71M
Sept. 24, 2020 4:00p
P/E Ratio
24.31
Dividend Yield
1.98%
Market Cap
$131.91 billion
Rev. per Employee
$544,047
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/zigman2/quotes/210598063/realtime
US : Dow Jones Indices
11,117.48
+22.39 +0.20%
Volume: 136.55M
Sept. 24, 2020 5:06p
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
26,815.44
+52.31 +0.20%
Volume: 448.78M
Sept. 24, 2020 5:06p
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