For The Archives -- This Blows Me Away -- I Did Not See This Coming -- October 22, 2020

In sports this would be a forfeit -- the opposing team did not show up. LOL. You can't win if you don't play. Even first graders know that. LOL.

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Speaking Of Not Seeing Things Coming

UNP plunges. Loses $12/share. Down more than 5%.

Disclaimer: this is not an investment site.  Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here. 

From The Street:

Union Pacific Corporation: shares dropped over 5% in trading Thursday after it reported its third-quarter 2020 results.

The company reported on Thursday a net income of $1.4 billion year-on-year (or $2.01 per diluted share) in its 2020 third-quarter, declining 12.5% from when it reported $1.6 billion in its 2019 third-quarter.

Union Pacific’s operating revenue was $4.92 billion, down 11% compared to the third quarter of 2019.

Estimated operating revenue of $4.94 billion was forecasted.

Business volumes, measured by total revenue carloads, declined 4% year-on-year to $2.04 million, compared to analysts forecast of $2.16 million. 

Additionally, the third quarter freight revenue declined 11% year-on-year compared to a 20% decline estimated by analysts.

The company’s operating ratio was 58.7% year-on-year, down from an estimate of 58.5%. [Say what?]

Two words: buying opportunity!

Disclaimer: this is not an investment site.  Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here.