Union Pacific Corp (UNP) Q1 2020 Earnings Call Transcript

Union Pacific Corp (UNP) Q1 2020 Earnings Call Transcript

Union Pacific Corp ( NYSE:UNP ) Q1 2020 Earnings Call Apr 23, 2020 , 8:45 a.m. ET. [Operator Instructions] A brief question-and-answer session will follow the formal presentation.. With me today in Omaha practicing safe social distancing are Jim Vena, Chief Operating Officer; Kenny Rocker, Executive Vice President of Marketing and Sales; and Jennifer Hamann, our Chief Financial Officer.. Before we discuss our first quarter results, I want to acknowledge the dedication and hard work of our employees.. Moving on to our first quarter results, this morning Union Pacific's reporting 2020 first quarter net income of $1.5 billion or $2.15 a share.. Jim V. Vena -- Chief Operating Officer-Union Pacific Railroad. As Lance mentioned, the railroad is healthy and operating smoothly as our customers have seen minimal rail service impact.. Overall, the team had a very strong quarter, really the results speak for themselves.. You see the impact of all the changes we made at Union Pacific to become more efficient and provide a better service product to our customers.. The changes drove an operating ratio of 59% which was outstanding and there are still many more opportunities ahead of us to further improve safety, asset utilization and network efficiency..