UP “PLEASED” WITH 1ST-QUARTER RESULTS

UP “PLEASED” WITH 1ST-QUARTER RESULTS

UP “PLEASED” WITH 1ST-QUARTER RESULTS

   Dick Davidson, Union Pacific chairman and leader government officer, mentioned he’s proud of the most important U.S. railroad’s first-quarter efficiency.

   Davidson mentioned Tuesday that the Omaha, Neb.-based railroad is happy with analysts’ expectancies. Regardless of the slowing financial system, UP posted cast quantity beneficial properties in some commodities, together with coal, which used to be up 12 %, he mentioned.

   Whilst grain and intermodal volumes had been flat for the primary quarter, “we confirmed some weak spot in chemical substances, business merchandise — paper, aluminum, metal amongst others — and vehicles,” he mentioned.

   As for the second one quarter, “it is been more or less a curler coaster … and, at this level, we do not see any indicators of strengthening,” Davidson mentioned. Whilst the corporate anticipates dealing with top gas costs and a sluggish financial system in the second one quarter, Davidson mentioned UP is expecting a strengthening of the financial system in the second one part of 2001.