Union Pacific’s 1Q Profit Falls 18%

Union Pacific Corp.’s first-quarter profit fell 18% to $362 million, or 72 cents per share, from $443 million, or 85 cents, a year ago.

Revenue fell 20% to $3.42 billion, the company said Thursday.

Revenue from intermodal freight fell 22% to $551 million, while automotive revenue plunged 55% to $162 million, UP said.

Union Pacific, the largest U.S. freight railroad by revenue, operates west of the Mississippi River.