Union Pacific (NYSE: UNP) reported Q1 EPS of $2.15, $0.25 better than the analyst estimate of $1.90. Revenue for the quarter came in at $5.2 billion versus the consensus estimate of $5.08 billion.

2020 Outlook:

Union Pacific expects second quarter 2020 carload volumes to be down around 25 percent, compared to the second quarter 2019. Although the situation is fluid and highly uncertain, the Company fully expects to maintain sufficient liquidity to sustain an extended period of lower volumes.

"Our first priority is the health and safety of our employees during the COVID-19 pandemic, as they perform the work necessary to move the goods communities need during this national emergency," Fritz said. "The eighteen month implementation of Unified Plan 2020 has put our company in a position of strength, with a strong balance sheet and ample liquidity, as we face today's fluid and uncertain situation. We remain focused on providing a highly consistent, reliable and efficient service product for our customers."

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