How did Union Pacific railroad increase its 4th quarter profits?
“Union Pacific produced solid second quarter results despite a business environment that continues to be extremely challenging,” said Jim Young, Union Pacific chairman and chief executive officer. “This performance demonstrates our unrelenting focus on safety, productivity and customer service, which helped drive lower costs and improved returns.” Second Quarter Summary The continued weak global economy affected all six of Union Pacific’s business groups. Second quarter 2009 operating revenues totaled $3.3 billion versus $4.6 billion in the second quarter 2008. In addition: * Business volumes, as measured by total revenue carloads, were down 22 percent versus the second quarter 2008. Reflecting lower volumes, year-over-year freight revenues declined 28 percent to $3.1 billion in the second quarter 2009. Lower fuel surcharge revenue in the second quarter, down over $500 million year-over-year, contributed to this decline. * Quarterly diesel fuel prices decreased 56 percent from an avera
“Union Pacific produced solid second quarter results despite a business environment that continues to be extremely challenging,” said Jim Young, Union Pacific chairman and chief executive officer. “This performance demonstrates our unrelenting focus on safety, productivity and customer service, which helped drive lower costs and improved returns.” Second Quarter Summary The continued weak global economy affected all six of Union Pacific’s business groups. Second quarter 2009 operating revenues totaled $3.3 billion versus $4.6 billion in the second quarter 2008. In addition: * Business volumes, as measured by total revenue carloads, were down 22 percent versus the second quarter 2008. Reflecting lower volumes, year-over-year freight revenues declined 28 percent to $3.1 billion in the second quarter 2009. Lower fuel surcharge revenue in the second quarter, down over $500 million year-over-year, contributed to this decline. * Quarterly diesel fuel prices decreased 56 percent from an avera
Omaha, Neb. — Union Pacific (UNP Quote) said its fourth-quarter profit jumped 35% because the railroad operator spent less on fuel, improved productivity and increased some shipping prices. The Omaha-based company said Thursday it had net income of $661 million, or $1.31 per share, up from $491 million, or 93 cents per share, a year ago. The railroad’s revenue grew 2%, to $4.29 billion in the quarter. Thomson Reuters said analysts it surveyed expected quarterly earnings of $1.23 per share on revenue of $4.3 billion. “Union Pacific posted solid earnings for the quarter and the year, despite numerous challenges,” Chairman and CEO Jim Young said in a statement. But Young said the railroad won’t provide any specific earnings guidance for 2009 because it is too difficult to predict demand. “Obviously, one of the biggest challenges we face this year is economic uncertainty,” Young said. The railroad said a 20% revenue increase in energy shipping and a 10% revenue increase in agricultural sh
