Union Pacific Corporation (NYSE:UNP) Q3 2023 Earnings Call Transcript

Certainly, it’s hard and a very high inflation environment, but that’s our opportunity as well. That gives us the opportunity to really look critically at the work that’s being done and make sure that we’re being as efficient as we possibly can be. And I think you’ve heard on the call today, we see opportunities across the board, whether you’re talking about how we’re maintaining our locomotive fleet, how we’re looking at our back-office functions, how we’re managing the transportation employees. We have opportunities to be more efficient there.

Jim Vena: Well, listen, thanks, everyone, and let me tie this up, and I really appreciate everybody taking the time this morning to join us and talk about Union Pacific. And I think the team that’s with me here has done a great job of explaining what we do, but let me summarize it real quick. Our goals are clear. It’s about safety, service and operating excellence. That’s how we win. And we’re going to be really good at operations. We’re going to provide consistent service to what we sold, every customer has a different level of service they required. Some of them is fast, some of them is sustainable. Some of it is making sure you’re consistent. We’re going to leverage the railroad. We’re going to do everything we can to leverage the physical plant that we have.

We’re going to be efficient on how we do it. We are going to deal with stakeholders at all levels in a professional manner and listen to their inputs and see what we can do. I think we can win. This is not going to be a short-term fix that — you’ll see it. But what you should notice is as we go through the next quarters, you will see us improve and when we get to the right place with the inputs that we have in this railroad. I’m excited. The team is excited. We’re moving fast and again, thank you very much, everyone, for joining us, and we’ll talk to you all in the next quarter, if not some time before. Thank you very much.

Operator: Ladies and gentlemen, thank you for your participation. This does conclude today’s teleconference. You may now disconnect your lines at this time and have a wonderful day.