Union Pacific railroad hauls 2 per cent more freight to deliver 13 per cent profit increase | iNFOnews | Thompson-Okanagan's News Source

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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

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