CLAIM #59341 · Union Pacific Corporation (UNP) · 2023Q1 earnings call · Apr 20, 2023 · due Jun 30, 2023
“In the second quarter, the team is focused on moving more freight and rightsizing the fleet.”
Eric Gehringer · EVP Operations
In context
“held our ground through the obstacles of the quarter. Both freight car velocity and manifest and auto trip plan compliance made slight improvements from last quarter's results. Intermodal trip plan compliance remained effectively flat as we battled resource imbalances driven by weather interruptions. With our current traffic mix, freight car velocity consistently running around 200 to 205 miles per day will strengthen our entire service product, including bulk, manifest and intermodal performance. Turning to Slide 12 to review our network efficiency metrics. Locomotive productivity dropped 5% versus first quarter 2022. However, it remained flat sequentially from last quarter's results as we continue to operate a larger locomotive fleet in an effort to support the recovery of the network. In the second quarter, the team is focused on moving more freight and rightsizing the fleet. To that point, we are in the process of storing over 100 units to at the ready status. First quarter workforce productivity declined 6% to 991 daily miles per FTE driven by an increased number of trainees and lower volumes. Our strong training pipeline supports our ability to capture available demand and future growth while managing and reducing borrowed out employees. As employees graduate from training, we expect productivity to improve. Train length is effectively flat compared to last quarter's results. Lower intermodal traffic, coupled with extreme cold temperatures across the Northern tier of our network presented a headwind to our train length initiatives for the quarter. The team remains committed to strengthening the network while we're covering loss productivity. Wrapping up on”
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SEC filings for UNP ↗ · Claim quote is verbatim from the 2023Q1 earnings call.