July 23, 2020 / 12:10 PM / 11 days ago

Union Pacific quarterly profit plunges 28% on lower shipment volumes

July 23 (Reuters) - Union Pacific Corp on Thursday reported a 28% decline in quarterly profit, hurt by lower shipment volumes as the COVID-19 pandemic disrupted global supply chains.

The Omaha, Nebraska-based railroad operator’s net income fell to $1.13 billion, or $1.67 per share, in the second quarter ended June 30, from $1.57 billion, or $2.22 per share, a year earlier.

Total operating revenue fell to $4.2 billion from $5.6 billion.

Reporting by Rachit Vats in Bengaluru; Editing by Shinjini Ganguli

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