5 Companies That Just Smashed Earnings Estimates

1. Union Pacific Corporation (NYSE:UNP)

Number of Hedge Fund Holders: 89

Shares of Union Pacific Corporation (NYSE:UNP) slightly moved down on Thursday, July 21, 2022, despite beating financial expectations for the second quarter. The railroad operator earned $2.93 per share, up from $2.72 per share in the year-ago quarter.

In addition, Union Pacific Corporation (NYSE:UNP) posted revenue of $6.3 billion, up 14 percent from the comparable period of 2021. Analysts were expecting Union Pacific Corporation (NYSE:UNP) to earn $2.84 per share on sales of $6.12 billion.

Among other updates, Union Pacific Corporation (NYSE:UNP) announced that it repurchased 3.1 million shares of its common stock for $722 million during the second quarter.

Discussing the results, CEO Lance Fritz said in a statement:

“As anticipated, the Second Quarter was a tough one as we limited carloadings and increased expenses to recover network fluidity. We also experienced record high fuel prices and increasing inflation, adding pressure to our total costs. Offsetting the cost pressures were higher fuel surcharge revenue, solid core pricing, a positive mix, and continued train size initiatives.”

You can also take a peek at The 10 Best Bank Stocks to Buy Amid Rising Inflation and Jim Cramer Recommends These 10 Stocks For Recession.

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