Union Pacific Corp.’s UNP stock rose 1.4% before market open Thursday after the railroad reported first-quarter profit and revenue that beat Wall Street’s expectations. Net income was $1.06 billion, or $2.67 a share, compared with $1.6 billion, or $2.57 a share, in the prior year’s quarter. The FactSet consensus for earnings per share was $2.57. Revenue rose 3% to $6.06 billion, above the FactSet consensus of $6.02 billion. “We delivered greater network fluidity and resiliency in the first quarter even as we faced a series of significant weather events,” said Union Pacific CEO Lance Fritz, in a statement. “In addition to the impact of weather on carload volumes and costs, higher inflation also reduced our operating income and more than offset our record first quarter operating revenue.”
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