(Source: Associated Press, April 18, 2013)
OMAHA, Neb. — Union Pacific’s first-quarter profit surged 11 percent as higher shipping rates offset weak demand for coal. The railroad expects shipping volume to improve later this year. The Omaha, Neb.,-based railroad said Thursday that it generated net income of $957 million, or $2.03 per share, in the quarter. That’s up from $863 million, or $1.79 per share, a year earlier. Revenue rose to $5.29 billion revenue from $5.1 billion revenue.
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