5 Stocks in Focus After Releasing Their Earnings Reports

3. Union Pacific Corporation (NYSE:UNP)

Number of Hedge Fund Holders: 69

Shares of Union Pacific Corporation (NYSE:UNP) hit an all-time high of $237.84 in the morning trading session on Friday, 22 October 2021, after posting strong profit and sales for the third quarter.

The railroad company reported earnings of $2.57 per share, beating the consensus forecast of $2.51 per share. Union Pacific Corporation (NYSE:UNP) had posted earnings of $2.01 per share for the same quarter last year.

Revenue for the quarter rose 13 percent on a year-over-year basis to $5.57 billion, ahead of the consensus forecast of $5.41 billion. Union Pacific Corporation (NYSE:UNP) also announced that it repurchased 8.6 million shares of its common stock during the quarter.

Speaking on the results, CEO Lance Fritz said in a statement:

“The Union Pacific team successfully navigated global supply chain disruptions, a major bridge outage, and additional weather events to produce strong quarterly revenue growth and financial results. In the quarter, the team delivered solid core pricing gains, leveraged business development to produce a positive business mix, and generated productivity to offset flat volume.”