and morning. Kenny, you, good Thank
XX%. earlier, from and quarter heard is operating reporting per ratio quarterly earnings Lance of you of Pacific share $X.XX As a second Union
items second $X.XX. there final higher at in share I'd our XXXX, and points these quarter deeper impacted XXXX, negatively to related per our And recovery quarter by year-over-year weather-related out. Last earnings items couple results year, basis we to expenses like insurance little to compared received second weather. call impacted a the a quarter. Together, XX favorably are operating million ratio, XXXX we the Looking of of $XX that incurred
added operating $X.XX and that fuel we earnings Additionally, XXXX the to a reduction that ratio share. basis operating Fuel XX quarter received per as the you'll second recall by impacted share ratio the to points. our and in tax quarterly refund added points payroll per in $X.XX favorably basis year-over-year tailwind earnings XXX a quarter provided price significant benefited
prefer do we coupled While higher increased benefit, a today's the term low prices trade-off of provide fuel short business. prices, with
could start our swift the quarter. a the per corresponding reduction at Looking which in and at drive we volume the we results, cut experienced second Despite impact actions decline quarter, core not steep operating $X.XX. basis back we the took of deteriorated in and our earnings ratio the of the costs with step XXX fully strong offset share to of our on productivity, points
related results to sale quarterly million real include $XX the our with recognition Finally, a Tollway. of Illinois estate
While operating it ratio, impact quarter added our $X.XX to EPS. sale does second the quarterly not
really in, all solid So despite our circumstances. extraordinary railroad some results for
per XXXX. a versus expense mentioned. result results includes debt XX% versus XX% estate $X.X income billion, income. versus a income volume, last a billion. revenue lower Interest Net when million XX% expense declined impact $XXX decreased levels, XX% nearly XX% year sale expense Looking to net share These XXXX our quarter Other Demonstrating operating lower, at combined now led a to down to statement. income freight provides breakdown down year-over-year close of year. on $X.X totaled which more XX quarter I due a as year, activity, to repurchase last just income of tax of share increased our XX% our of cost with of Slide billion revenue. $X.X ability look revenue, totaled decrease the at while pretax down of in which earnings second volume Taking $X our income $X.X adjust billion, with decline. a real operating operating XX% last the billion, increased decrease $X.XX. to was versus second quarterly to XX% XX%
revenue dollars negatively decline X.XX primarily and pricing our in revenue XX% by the the of mix points. The yield were to of actions Although positive excess combination was price impacted in driven in reduction results about volume, of quarter the by continued the inflation. and
were gains second by mix steep quarter more negative sand and those related However, automotive, business to offset declines than volumes. crude in
in year programs points. last fuel a diesel in in partially recovery month X.XX X the impacted roughly offset quarter prices by revenue by XX% decrease addition, In surcharge versus fuel freight the our lag
to let's Slide Now which operating summary second move of a XX, provides quarter expenses. our
customers our As reacted an quarter. to face near manage you to our as quickly adjust and costs service In carloads chart, in close dipping Kenny's the quarter, as excellent XXX,XXX while then we decline, volume product. the providing business saw we peaking and resources dramatic the the with still low pretty of XXX,XXX in volumes a carloading through in experienced day change April
a volume achievement entered team, variable around a adjusted efforts, expenses we strong of for UP that rightsized As these fuel XX% consider you result more a the exited especially were entire when quarter than it. we the on quarter basis, second
In and primarily year-over-year, initiatives. workforce a XX% as lines, of the productivity reductions benefits different of compensation terms expense decreased and expense result
XX% levels decreased versus about declined full-time equivalents Second sequentially last and quarter X,XXX or workforce year XX%.
Jim fell consumption volumes mechanical services XX% materials down the Fuel fuel engineering volume-variable, and workforces engine our while train the and to locomotive than a rate us year-over-year. fleet more XX%, was we active Purchase basically of as lower and XX%. fleet. in flat as expense quarter, expense store a lower management, maintain the and our quarter, As in workforce XX% decreased result productively, mentioned significantly enabling used decreased together earlier, more diesel prices more our while locomotives smaller was and
drayage by both locomotives plant lower as In shutdowns led incurred a and car other addition, result freight higher rents for cars. savings and XX%, expense subsidiary volumes. of lower our Equipment and loop less lease declined intermodal and auto expense
more are X% reflecting only cost was somewhat terminal expense gains We our continuing nature freight expense of and velocity in by this to cars as Other the quarter, evidenced freight car productively use the line. dwell. fixed down in
taxes, of this and the from The in is quarter we and savings in makes offset up saw Although running partially state and railroad the also safer those business impairments, from recovery a in were benefited by second earlier equity I these reduced income increases our lower expense, insurance lease investment travel category. local which mentioned reflected FXE majority cost results.
$XXX productivity. at now in quarter. strong generated Looking We net productivity, the approximately million totaling second
operating our sharply XXXX, we is length of comparison. already improved back to department's efforts given April, As the XXXX. We the impressive from especially quarter, second continued which this productivity first end year Jim moderate the balanced decline. severe commitment an half productivity year we the of And train we now mentioned tougher continued the volume unwavering, provided achieved progress with contrasts strong low pace in half was initiatives, the have second while half our do Nonetheless, range product, expect earlier, a $XXX of against full on of to had service million. in last events for with productivity $XXX and expect full exceed weather tailwind million to some a year's productivity
to on cash Moving and liquidity.
and We as main payment conversion first half a was investment-grade hand end quarter to adjusted in navigate totaled deferrals. our of rate, an and XXXX first on fall a $X.X previously, cash ratings at XXXX Free position in capital Standard Cash the balance from we've which nearly increased the helped after to a of by quarter and in available the both continue XXX% cash bit liquidity of versus billion. ratio Poor's flow sheet, from enabled debt-to-EBITDA Cash cash we tax was income X.Xx off to strength. half Pacific's Union discussed As finished resulting billion. ability $X.X business billion, investments cost us operations to XX% generate credit strong at $X.X of pandemic the the remain strong Moody's. &
the would this the earlier tax balance quarter referenced. in deferred our includes typically million well million than Now liquidity as short-term just to nearly completed in more is of payments we $XXX $XXX second borrowing as and I hold bolster
second returns quarter, dividend industry-leading payout strong our and quarterly our owners. Finally, remain providing through we value the our to committed to in returned to shareholders cash
our now Turning to second half outlook.
some Although today than quarter more reported items are first earnings still April, certain when back in we are unknowns. many there
are business optimism XXXX foundational which our You our heard about talk Kenny update. some to guidance volumes, half with just second
Assuming we our XX% shutdowns, not to economic down volumes year or second of volume the expect maintain a we trend be do we wave consistent full experience so. and
out earlier, for And million guidance $XXX full to regard year pointed I productivity unchanged. is As long-standing exceed to with our expect we XXXX. pricing,
expect inflation costs. dollars We the total actions our pricing exceed rail to from generated
today, piece on facing move very are productivity for our year Together, is XXXX. to adequate we a volume, making year-over-year full of expectations are Although produce competitive should operating we committed price we and a each in basis marketplace improvement sure earning ratio return. business an
While the a are we as well our one-for-one we demand manage on now way anticipated, year out cost the certainly without adding handling pleased basis. we the by had back are both increased isn't as earlier freight very ability how costs playing downturn, in to
outlook. cash dividend, COVID on Full and We are continue We but various the in as and renewal globally. parts the still of maintain see our we paused the of news U.S. productivity plan spiking repurchases. are on allocation, cases we all make as billion of $X.X investments. to share both to given capital and more we more than capital a little generation to come year will likely progress terms our In bullish good expenditures current in
payout stay earnings of and of capital below intact. expenditures XX% ultimately, conservative of XX% to Longer of to dividend guidance XX% for a our remain plan now. posture a revenue, XX% operating ratio a we ratio in So term,
Union Now service who collective of most our meet pandemic. back America. goal of before would I efficient the most the North like exceptional the They thank continue to safest, turn charge it during towards of needs the customers in daily I employees to this reliable Lance, operating to are Pacific leading our and railroad
with So turn it back Lance. to I'll that,
