CLAIM #59350 · Union Pacific Corporation (UNP) · 2023Q1 earnings call · Apr 20, 2023 · due Dec 31, 2023
“What gives us a ton of confidence as we look into the year is how the network is operating right now. It's in a place where we can get the volume and we can squeeze out the excess cost.”
Lance Fritz · CEO
In context
“p drive that, certainly, fuel is something that is looking different to us this year than it did last year. Particularly right now, you saw the 1.9 points that it benefited our OR in the first quarter. That will -- comparison will get a little tougher in the back half. So it may look different than '22 did. But certainly, fuel, I think, is something. But then it's the main levers that you know that we have available to us. It's volume, price and productivity. And of course, volume, it depends a little bit what that is, but we also have pure cost control. So if volumes are something that are not our friend, and we're not able to get that leverage, we also have the ability to control costs through being very careful and diligent in our management. Lance Fritz : And Jennifer, one last thing. What gives us a ton of confidence as we look into the year is how the network is operating right now. It's in a place where we can get the volume and we can squeeze out the excess cost. Jennifer Hamann: Absolutely. Operator: Our next question comes from the line of Tom Wadewitz with UBS. Tom Wadewitz : I wanted to ask you about the head count level. I think you know the training pipeline for T&E looks like it's larger but I think that the level of people that you've had that are trained on the system seems like it's been static for a while. And so I'm just wondering what do you think about in terms of where you need to get for TE&Y that are trained in on the system? And I guess, in terms of attrition, has attrition been an ongoing problem has that stabilized? Just thinking about that headcount dynamic and then I guess, how that fits into how you would expect network performance to go from where we are. Lance Fritz : Yes. So Tom, we entered the year saying total headcount”
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SEC filings for UNP ↗ · Claim quote is verbatim from the 2023Q1 earnings call.