CLAIM #59568 · Union Pacific Corporation (UNP) · 2024Q3 earnings call · Oct 24, 2024 · due Dec 31, 2024
“Additionally, we expect continued growth in the grain products tied to renewable fuels and their associated feedstocks.”
Kenny Rocker · EVP Marketing and Sales
In context
“strong. Our international intermodal volume was up 33%, significantly outpacing growth seen in West Coast imports. Import strength also drove increased domestic volume, which we were able to capitalize on due to our diverse IMC network. Now turning to Slide 10. Here is our outlook for the balance of 2024 for the key markets we serve. Starting with Bulk. Coal is expected to remain challenged, as inventories remain high, and we see competition from low natural gas prices. Moving to Grain. We are optimistic due to a strong supply in UP's franchise areas, and we have secured additional new facilities that will ensure domestic growth, generating long-term ratable grain demand. We expect ongoing strength in the Mexico export market as the UP continues to increase its share south of the border. Additionally, we expect continued growth in the grain products tied to renewable fuels and their associated feedstocks. The team is focused on capturing business as production continues to ramp up at new facilities brought online, such as Bartlett's crush facility in Cherryvale, Kansas. Turning to Industrial. As we mentioned earlier, we expect the rock market will not match last year's record volume. For petroleum, we have tougher comps but are building on our success with business development. Petrochemicals is expected to outperform the market, based on the strength of our Gulf Coast franchise, and we are excited to see incremental volume from Shintech's expansion at Plaquemines, Louisiana. And wrapping up with Premium. On the intermodal side, the surge of West Coast import volumes will continue to drive for both our international and domestic markets for the remainder of the year. In Automotive, we are”
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SEC filings for UNP ↗ · Claim quote is verbatim from the 2024Q3 earnings call.