Union Pacific Corp, the top US railway operator, has announced that third-quarter profit will fall below analysts' expectations as mild summer weather and flooding in Colorado hurt coal shipments.
An uncertain economic environment continued to impact intermodal volumes, Union Pacific was cited as saying in a statement, reports Reuters.
The company said it anticipates profit of US$2.45-$2.48 per share for the quarter ending September. Analysts on average had expected a profit of $2.56 per share.
Union Pacific, which connects 23 states in the West and Midwest, also forecast a $10 million hit to operating income related to the flooding.