Union Pacific’s 3Q Profit Drops

Union Pacific Corp.’s third-quarter profit fell 26% to $517 million, or $1.02 per share, from $703 million, or $1.38, a year ago.

Revenue dropped 24% to $3.7 billion, the company said Thursday.

Revenue from intermodal freight fell 22% to $656 million, while automotive revenue declined 30% to $227 million, UP said.

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