Union Pacific says 2022 OR starting with '55' unlikely; inflation ~4%

UNION PACIFIC CORP

CFO Hamann reaffirmed FY2022 OR improvement vs 2021, but incremental margins below original mid-60% forecast.
All-in inflation excluding locomotive fuel expected ~4%; fuel and cost inflation pressuring margins.
Achievement of OR starting with '55' unlikely due to higher network costs and inflation.
Railroad filed amended service recovery plan with STB on June 3, projecting key metric ranges.

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