Union Pacific predicts its third-quarter profit will fall short Wall Street's expectations because of weak coal shipments and last month's flooding in Colorado.
The Omaha-based railroad said Thursday the flooding that washed out rail lines while destroying thousands of homes hurt volume and will cost the railroad $10 million for repairs and lost revenue.
Union Pacific says it expects its quarterly earnings to fall between $2.45 and $2.48 per share. It will report full results October 17th.
Analysts surveyed by FactSet expected UP to report earnings of $2.56 per share.
Its shares fell $2.28, or 1.5 percent, to $153.10 in after-hours trading Thursday.
Union Pacific says its revenue grew about 4 percent and core prices increased 3.5 percent. The railroad's shipping volume was flat overall.