OMAHA, Neb. (AP) — Union Pacific’s first-quarter profit declined 9% as the railroad delivered less freight and its revenue fell. 

The Omaha, Nebraska-based company said Thursday that it earned $1.34 billion, or $2 per share, in the quarter. 

That’s down from $1.47 billion, or $2.15 per share, a year earlier. 

The results did not meet Wall Street expectations as the railroad delivered 1% less freight and had to deal with the severe cold in February.

 But Union Pacific said it expects shipping volume to grow roughly 6% overall in 2021 as the economy continues to recover from the coronavirus pandemic.

OMAHA, Neb. (AP) — Union Pacific’s first-quarter profit declined 9% as the railroad delivered less freight and its revenue fell. The Omaha, Nebraska-based company said Thursday that it earned $1.34 billion, or $2 per share, in the quarter. That’s down from $1.47 billion, or $2.15 per share, a year earlier. The results did not meet Wall Street expectations as the railroad delivered 1% less freight and had to deal with the severe cold in February. But Union Pacific said it expects shipping volume to grow roughly 6% overall in 2021 as the economy continues to recover from the coronavirus pandemic.

Union Pacific profit down 9% but economy will grow in 2021