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Union Pacific's (UNP) CEO Lance Fritz on Q3 2015 Results - Earnings Call Transcript


Greetings and welcome to Union Pacific's Third Quarter Earnings Call. [Operator Instructions] As a reminder, this conference is being recorded, and the slides for today's presentation are available on Union Pacific's website. It is now my pleasure to introduce your host, Mr. Lance Fritz, Chairman, President and CEO for Union Pacific. Thank you, Mr. Fritz. You may now begin.

Lance Fritz - President and CEO

Thank you and good morning, everybody. Welcome to Union Pacific's third quarter earnings conference call. With me here today in Omaha are Eric Butler, Executive Vice President of Marketing and Sales; Cameron Scott, Executive Vice President of Operations; and Rob Knight, our Chief Financial Officer.

This morning, Union Pacific is reporting net income of $1.3 billion for the third quarter of 2015. This equates to $1.50 per share, which is down 2% compared to the third quarter of 2014. Total volumes decreased about 6% in the quarter, more than offsetting another quarter of solid core pricing gains. Carload volume declined in five of our six commodity groups with coal down the most at 15%. Automotive...