CLAIM #59263 · Union Pacific Corporation (UNP) · 2022Q3 earnings call · Oct 20, 2022 · due Dec 31, 2023
“Yes, Ravi. Short answer, yes. Longer answer, there are a lot of moving parts. There are going to be some headwinds into next year. Inflation is quite real. But as we look at rolling up a budget and starting or really at the tail end of putting our plan together for sure, we are confident we can get pricing above inflation.”
Lance Fritz · CEO
In context
“e-off is feasible. We think it's absolutely going to be happening. We don't think there's a large impact on employment through that. Jennifer Hamann : And it could actually give us better crew availability. Lance Fritz : 100%. Jennifer Hamann : That gives us opportunities. Operator: Next question is from the line of Ravi Shanker with Morgan Stanley. Ravi Shanker : So I get that you're -- obviously, it's too early to give us 2023 guidance or anything, and then you did reiterate your commitment to the long-term targets. But Lance, I just wanted to get a sense with all of the moving parts you see right now, are you confident that you guys can get pricing over inflation next year with kind of higher inflation inputs and pressure on the top line from what's going on in the macro? Lance Fritz : Yes, Ravi. Short answer, yes. Longer answer, there are a lot of moving parts. There are going to be some headwinds into next year. Inflation is quite real. But as we look at rolling up a budget and starting or really at the tail end of putting our plan together for sure, we are confident we can get pricing above inflation. Operator: Our next question comes from the line of Allison Poliniak with Wells Fargo. Allison Poliniak: Kenny, I want to go back to your comment that you put out there about leaving demand on the table. Can you maybe help us understand or quantify what you think that headwind was? And then as you're talking to potential new customers, has the service challenges that you guys faced this year impacted some of that conversion to new accounts? Just any thoughts there? Kenny Rocker : Yes, a couple of things. One is, I'll tell you, Allison, that's hard to quantify. Clearly, we saw second week of September, mid-September, and it probably lasted for a couple of weeks a dip in our carloads, probably more noticeable in our premium network than it was in our carload network. So Allison, I can't give”
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SEC filings for UNP ↗ · Claim quote is verbatim from the 2022Q3 earnings call.