CLAIM #59446 · Union Pacific Corporation (UNP) · 2023Q3 earnings call · Oct 19, 2023 · due Oct 19, 2025
“So it won't be quite as large. It won't be the $1.3 billion that we did last time, but there is productivity gain that we can do.”
Jim Vena · CEO
In context
“times here at the end of the quarter, a little bit elevated from where they have been historically. And so our job is to hit on the things you mentioned earlier with the price, productivity, grow the business and generate more EBITDA, generate more cash flow and resume our share repurchase program. Jim Vena: And Scott, on the second piece is, the last time I showed up in January 14th of 2019 versus August 14th of this year is the railroad is more efficient. It did not back up to the place where it was before. It was very easy pickings to go park a 1000 locomotives. So we don't have that. But what we do have is we still have productivity. I see productivity across everything that we do from how management works, how many people we need to operate the railroad to how well we use our assets. So it won't be quite as large. It won't be the $1.3 billion that we did last time, but there is productivity gain that we can do. So with that, it's going to take a little bit longer. Some of these changes that I see will not be as quick. I won't be able to go to North Platte and Park 90 locomotives because we had them parked outside the diesel shop first day. But there is ways for us to speed it up and there's still locomotives that we can park and make sure that they're used efficiently. So it will take us a little bit longer. And stay tuned with us and you'll see hopefully incremental changes to our numbers that will tell you that we're headed the right way. And there'll be ups and downs. There is no advantage of budgeted some things we can't control. I really don't know what's going to happen to the economy next year. Are we going to have a recession? Are we not going to have a recession? I'm hoping we -- the co”
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SEC filings for UNP ↗ · Claim quote is verbatim from the 2023Q3 earnings call.