Union Pacific Says Recent Change In Nebraska State Income Tax Rate Is Expected To Add Nearly $75M To After-Tax Income In Q2 2023; Sees One-Time Pre-Tax Expense Of Around $70M In Q2 2023 From Ratification Of Deal With International Association Of Smart-TD
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Union Pacific (UNP) expects a recent change in Nebraska state income tax rate to add nearly $75M to its after-tax income in Q2 2023. However, the company also anticipates a one-time pre-tax expense of around $70M in Q2 2023 due to the ratification of a deal with the International Association of Smart-TD.
June 13, 2023 | 1:13 pm
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Union Pacific is expected to see a boost in after-tax income by $75M in Q2 2023 due to Nebraska tax rate change, but will also incur a $70M pre-tax expense from a deal with the International Association of Smart-TD.
The change in Nebraska state income tax rate will positively impact Union Pacific's after-tax income by nearly $75M in Q2 2023. However, the company will also face a one-time pre-tax expense of around $70M in Q2 2023 due to the ratification of a deal with the International Association of Smart-TD. The net impact is still positive, which is likely to result in a short-term increase in the stock price.
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