Union Pacific railroad hauls 2 per cent more freight to deliver 13 per cent profit increase - InfoNews

Current Conditions

Cloudy
1.9°C

Union Pacific railroad hauls 2 per cent more freight to deliver 13 per cent profit increase

FILE - In this Thursday, Oct. 17, 2013, file photo, a Union Pacific locomotive with passenger cars in tow is parked in Omaha, Neb. Union Pacific is reporting a 13 percent jump in fourth-quarter profit as strong grain, automotive and industrial shipments offset a 10 percent drop in loads of coal, the company reported Thursday, Jan. 23, 2014. (AP Photo/Nati Harnik, File)
January 23, 2014 - 5:31 AM

OMAHA, Neb. - Union Pacific is reporting a 13 per cent jump in fourth-quarter profit as strong grain, automotive and industrial shipments offset a 10 per cent drop in loads of coal.

The Omaha, Neb., railroad earned $1.2 billion net income, or $2.55 per share, in the last three months of 2013. That's up from last year's $1 billion net income, or $2.19 per share.

Revenue improved 7 per cent to $5.63 billion as the railroad increased rates and volume grew 2 per cent overall.

Analysts surveyed by FactSet had expected Union Pacific Corp. to report quarterly earnings per share of $2.49 per share on revenue of $5.57 billion.

CEO Jack Koraleski said Thursday that it looks like the economy will continue to strengthen slowly this year, and the railroad is ready to handle the growth.

News from © The Associated Press, 2014
The Associated Press

  • Popular kelowna News
  • Comments
  • RCMP make arrest for 2019 killing of homeless Kelowna teen
    An 18-year-old woman has been arrested for the 2019 killing of Elijah Beauregard. Beauregard was fatally stabbed in downtown Kelowna June 27, 2019, and on Feb. 21,  an unnamed woman was
  • Major delays on Coquihalla, Drive BC issues warning
    Conditions on the Coquihalla, near the Great Bear snowshed, have been pretty intense for motorists, prompting DriveBC to issue a warning. #BCHwy5 - A look at the situation moments ago
  • UPDATE: Highway 1 open after major accident
    After a major vehicle accident closed Highway 1 between Revelstoke and Sicamous this morning, the road has been reopened. According to Drive BC, the incident occurred around 9 a.m. at Three
  • Snowstorm to hit Coquihalla, valley bottom
    Snow is expected to fall across the Southern Interior today but the biggest weather change will be on mountain passes, which could see quite a significant accumulation of snow. A snowfall wa
  • New mountain highway proposed between Red Deer and Kamloops
    An Alberta development group is pitching the idea of a new highway linking central Alberta to B.C. cutting through the mountains and a section of Banff National Park. The Central Alberta Eco
View Site in: Desktop | Mobile