On Thursday, Shares of Union Pacific Corporation (NYSE:UNP), lost -5.69% to $92.12, hitting its lowest level.
Union Pacific Corporation stated 2015 second quarter net income of $1.2 billion, or $1.38 per diluted share, contrast to $1.3 billion, or $1.43 per diluted share, in the second quarter 2014.
Second Quarter Summary
Operating revenue of $5.4 billion was down 10 percent in the second quarter 2015 as compared to the second quarter 2014. Second quarter business volumes, as measured by total revenue carloads, declined 6 percent contrast to 2014. Volume declines in coal, industrial products, and agricultural products more than offset the growth in automotive and intermodal. Chemicals volume was flat contrast to 2014 as growth in base chemicals carloads offset a decline in crude oil shipments. In addition:
- Quarterly freight revenue reduced 10 percent contrast to the second quarter 2014, as the volume decline, lower fuel surcharge revenue, and negative business mix more than offset core pricing gains.
- Union Pacific’s 64.1 percent operating ratio was 0.6 points worse than the second quarter 2014. The operating ratio benefited just under a point from the net impact of lower fuel prices in the quarter.
- Other income of $142 million raised $120 million contrast to the second quarter 2014. Comprised of in this amount is the formerly declared Fremont, California, land sale, which contributed $113 million to pre-tax income, or 8 cents per diluted share to total earnings.
- The $1.99 per gallon average quarterly diesel fuel price in the second quarter 2015 was 36 percent lower than the second quarter 2014.
- Quarterly train speed, as stated to the Association of American Railroads, was 24.6 mph, about 3 percent faster contrast with the second quarter 2014.
- The Company repurchased almost 8.0 million shares in the second quarter 2015 at an aggregate cost of $834 million.
Union Pacific Corporation, through its partner, Union Pacific Railroad Company, operates railroads in the United States. The company offers freight transportation services for agricultural products, counting grains, commodities produced from grains, and food and beverage products; automotive products, such as finished vehicles and automotive parts.
Shares of Cabela’s Incorporated (NYSE:CAB), declined -11.50% to $45.77, during its last trading session, hitting its lowest level.
Cabela’s Incorporated stated financial results for second quarter fiscal 2015.
For the quarter, total revenue raised 9.9% to $836.3 million; Retail store revenue raised 13.9% to $570.1 million; Direct revenue reduced 7.0% to $136.8 million; and Financial Services revenue raised 14.2% to $124.9 million. During the period, merged comparable store sales reduced 0.9%. Net income was $40.1 million contrast to $43.5 million in the year ago quarter, and earnings per diluted share were $0.56 contrast to $0.61 in the year ago quarter.
A shift in ammunition sales from the Direct channel to the Retail channel combined with further pressure from new retail square footage contributed to the 7.0% decrease in Direct revenue for the quarter. Omni-channel improvements continue to drive enhancements to the customer experience and are predictable to contribute to sequential improvement in Direct channel performance for the second half of 2015.
Strong performance in hardline categories such as powersports, firearms, and ammunition and weaker performance in soft goods and apparel categories combined with a more aggressive promotional cadence contributed to the 120 basis point decrease in merchandise gross margin for the quarter. With improving trends in certain apparel categories and the anniversary of a more promotional environment, the Company anticipates merchandise gross margins to be mostly in line with the preceding year through the second half of 2015.
Cabela’s Incorporated, together with its auxiliaries, operates as a specialty retailer and direct marketer of hunting, fishing, camping, and related outdoor merchandise. The company operates through three segments: Retail, Direct, and Financial Services.
Finally, Hudson Pacific Properties, Inc. (NYSE:HPP), ended its last trade with -0.60% loss, and closed at $30.06.
Hudson Pacific Properties declared two promotions within its senior administration team, effective right away.
Arthur Suazo, former Senior Vice President, Leasing has been designated Executive Vice President, Leasing. He will continue to oversee the company’s leasing activities and personnel and will now report directly to Victor Coleman, Hudson’s Chairman and CEO.
Joshua Hatfield, former Senior Vice President, Operations has been designated Executive Vice President, Operations. He will continue to oversee corporate and office portfolio operations and will now report directly to Mark Lammas, Hudson’s CFO.
Additionally, Christopher Barton, now Executive Vice President of Development and Capital Investments, will focus exclusively on redevelopment, development and capital improvement projects and will continue to report directly to Mr. Coleman. Barton formerly had responsibility for operations.
Hudson Pacific Properties, Inc. operates as a vertically integrated real estate trust (REIT) in the United States. It engages in owning, operating, and acquiring office, and media and entertainment properties primarily in Northern and Southern California in Los Angeles, Orange County, San Diego, San Francisco, Silicon Valley, and the East Bay.
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