Union Pacific's second-quarter profit fell 19 percent as the railroad hauled 11 percent less freight.
The railroad said Thursday that full-year volumes are likely to fall 6 percent to 8 percent because of the soft global economy, strong U.S. dollar and weak consumer demand.
Its shares fell more than 3 percent in afternoon trading.
The Omaha, Nebraska-based company reported net income of $979 million, or $1.17 per share. That's down from $1.2 billion, or $1.38 per share, a year ago.
The 14 analysts surveyed by Zacks Investment Research predicted earnings of $1.17 per share on average.
Revenue declined 12 percent to $4.77 billion. Five analysts surveyed by...