OMAHA, Nebraska — Union Pacific Corp., North America’s biggest railroad operator, said on Thursday that fourth-quarter profits rose amid a strong pickup in coal shipments, a wire service reports.
The Omaha, Nebraska, firm, which also owns a trucking company, said in a news release that quarterly net income was $275 million, or $1.06 share, up from $229 million, or 90 cents.
Wall Street had expected Union Pacific to earn between 94 and 98 cents a share, with a consensus forecast of 96 cents, according to nine analysts surveyed by Thomson Financial/First Call.
Union Pacific shares closed on Wednesday at $59.95, up $1.45, or 2.5 percent. Union Pacific, which has ridden a broad rally in rail stocks fueled by hopes of a turnup in the U.S. economy, is up 12 percent over the last 12 months. By comparison, the Dow Jones U.S. Total Market Index has fallen about 17 percent.