(The Associated Press circulated the following on January 22, 2009.)
OMAHA, Neb. — Union Pacific Corp. says 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 that it generated $661 million net income, or $1.31 per share. That’s up from $491 million, or 93 cents per share, Union Pacific reported a year ago.
Thomson Reuters said analysts it surveyed expected quarterly earnings of $1.23 per share on revenue of $4.3 billion.
The railroad said a 20% revenue increase in energy shipping and a 10% increase in agricultural shipping revenue offset declines in Union Pacific’s four other sectors.
The railroad’s overall revenue grew 2%, to $4.29 billion in the quarter.