Summary
Union Pacific Corporation (UNP) issued an 8-K filing on September 6, 2017, to disclose information shared by its Executive Vice President and Chief Financial Officer, Robert M. Knight, at the Cowen & Company 10th Annual Global Transportation Conference. The primary focus of the disclosure was the expected financial impact of Gulf Coast weather on the company's third-quarter results. Mr. Knight indicated that the company anticipates a negative impact of approximately five cents per share on its third-quarter earnings. This impact is primarily attributed to lost revenue and some incremental operating costs resulting from the weather events. While a portion of the lost revenue is expected to be recovered in the fourth quarter, investors should note this short-term headwind to third-quarter performance. The filing also includes standard cautionary statements regarding forward-looking statements and associated risks.
Key Highlights
- 1Disclosure made at the Cowen & Company 10th Annual Global Transportation Conference.
- 2CFO Robert M. Knight provided commentary on the impact of Gulf Coast weather.
- 3Expected negative impact on third-quarter earnings estimated at approximately $0.05 per share.
- 4Impact primarily due to lost revenue and some higher operating costs.
- 5Anticipation that some lost revenue may be recovered in the fourth quarter.
- 6Filing contains standard forward-looking statement disclaimers.