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Union Pacific: We’re not Seeing the Economic Weakness

Jack Koraleski, CEO of Union Pacific, the largest publicly traded U.S. railroad, says the economy is growing slowly and that the weakness is not apparent in his business.  He was on CNBC yesterday to discuss the outlook:

“There’s a lot of noise in the economy about whether or not we’re sliding back, but we’re not seeing that. We’ve manage to offset soft core loadings, flat with volume. So we’re seeing the other components do quite well.”

Where’s the economic strength:

“the biggest (strength) is in oil, car loadings. The oil shipments. All the materials that feed those formations. But the automotive industry is doing quite well for us, as is our domestic industrial chemicals.”

But let’s not get overly optimistic here.  We’re still in a sluggish economy:

“I think slow and continued growth seems to be the course that we’re following. It’s interesting the way information moves so fast that people can react so quickly. So maybe as the trend is slow growth, but the trend still definitely a nice consistent slow growth for us.”

See the full interview here:

Source: CNBC


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