CLAIM #59646 · Union Pacific Corporation (UNP) · 2025Q1 earnings call · Apr 24, 2025 · due Jun 30, 2025
“Well, Ken, I love the question. You know that you were trying you asked me because you thought for sure Jennifer would say I don't give any guidance. But yes, we're historically we're going to historically see that improvement at this point.”
Jim Vena · CEO
In context
“ns in the first quarter. Thanks, Scott. Operator: The next question is from the line of Ken Hoexter with Bank of America. Please proceed with your question. Ken Hoexter: Good morning, Ken. Hey, great. Good morning. So, Jen, maybe just taking that another step and I know you don't give specific guidance, but if I think about maybe just historical averages, right, so first quarter to second quarter, maybe you could talk about what kind of level improvement you've historically seen. I think it's been about a hundred basis points. So I just want to understand just to get to the EPS target that you're talking about, do we have to see outsized seasonal performance given, I don't know, whether it's the LEAP day and fuel impact you were talking about? Jim Vena: Maybe I'll start with that. Thanks. Well, Ken, I love the question. You know that you were trying you asked me because you thought for sure Jennifer would say I don't give any guidance. But yes, we're historically we're going to historically see that improvement at this point. We see it already with three weeks in the book that we looks like we'll have that historical change that happens normally first quarter to second quarter and maybe even a little better because of how well we're operating. But still too early in the quarter to say anything specific about what it looks like. Jennifer? Jennifer Hamann: Yes. No, I mean, the first quarter is where you typically have your worst margins for the year. Then it typically improves second and third quarter because you've got kind of your beginning of the year cost out of the way. You see your volume improve. And you're away from the winter weather. And so you've got that kind of mud behind you, if you will, in the first quarter that helps propel you in the second and third quarters as you see volume growth. Obviously”
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SEC filings for UNP ↗ · Claim quote is verbatim from the 2025Q1 earnings call.