RTR: Union Pacific posts weak profit as storm delays shipments

REUTERS reports:

Union Pacific Corp (UNP.N) reported lower-than-expected fourth-quarter profit on Tuesday, hurt by delayed shipments amid labor shortages and a winter storm that crippled freight operations across the United States.

“We continued to face challenges hiring craft professionals in critical locations and experienced the impact of extreme winter weather on our network in December,” Chief Executive Lance Fritz said.

Union Pacific, which connects 23 states in the western two-thirds of the country by rail, suffered shipment delays over the Christmas period as the winter storm Elliott hit its railroad networks…

The full post is here.

Stock down 3.2% to $203.4 ahead of closing in a flattish market.

Fourth quarter and full-year 2022 numbers can be read here.