Why did UNP's Q3 2024 earnings fall short?

Union Pacific's Q3 2024 earnings fell short, as indicated by the negative EPS surprise of -0.03, due to several factors:

1. **Coal Volume Decline**: Coal volume was down 23% due to ongoing market decline and lower natural gas prices, which impacted overall revenue.
2. **Fuel Surcharge Revenue Decline**: Fuel surcharge revenue declined by 5%, affecting freight revenue negatively.
3. **Industrial Segment Challenges**: The industrial segment saw a 3% decrease in volume, reflecting challenges in certain markets.

These factors, combined with other market and weather disruptions, contributed to the decline in Union Pacific's Q3 2024 earnings.

|code|Ticker|Name|Date|Net Income YoY|Net Income|market_code|
|---|---|---|---|---|---|---|
|UNP|UNP.N|Union Pacific|2024 Q1|0.6748466257668712|1.641E9|169|
|UNP|UNP.N|Union Pacific|2024 Q2|6.62842574888464|1.673E9|169|
|UNP|UNP.N|Union Pacific|2024 Q3|9.358638743455497|1.671E9|169|