The company said operating income fell to $9.1 billion in 2023 from 2022, down 8%, and its operating ratio rose to 62.3%, up 2.2 points. Net income was $6.4 billion, or $10.45 per diluted share, down 7% from 2022.

1. 01

   The company said operating income fell to $9.1 billion in 2023 from 2022, down 8%, and its operating ratio rose to 62.3%, up 2.2 points. Net income was $6.4 billion, or $10.45 per diluted share, down 7% from 2022.

2. 02

   Union Pacific said cash provided by operating activities was $8.4 billion in 2023. After cash used in investing activities of $3.7 billion and dividends of $3.2 billion, free cash flow was $1.5 billion. The company said both measures were lowered by $454 million in payments tied to labor agreements.

3. 03

   Union Pacific said freight revenues decreased 3% year-over-year to $22.6 billion in 2023. The company cited lower fuel surcharge revenues, a mix of traffic, and a 1% decrease in volume as factors, and said core pricing gains partially offset the decline.

4. 04

   As of December 31, 2023, the company had $1.1 billion in cash and cash equivalents and $2.0 billion of committed credit available under its revolving credit facility, and it had not drawn on the facility. The company presented a capital plan of about $3.4 billion for 2024, which is 8% lower than 2023.

Key figures

Fiscal year ended December 31, 2023

Revenue

$24.1B

Operating income

$9.1B

Net income

$6.4B

EPS

$10.45

Operating cash flow

$8.4B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.