(The Associated Press circulated the following by Josh Funk on January 24.)
OMAHA, Neb. — Union Pacific Corp. said Thursday that revenue growth and improved efficiency helped the railroad increase its fourth-quarter profit 1 percent even though shipping volume was flat and diesel prices soared.
The Omaha-based railroad said it earned $491 million, or $1.86 per share, in the quarter that ended Dec. 31. That’s up from the $485 million, or $1.78 per share, it earned in the same period a year ago.
Union Pacific said its revenue grew to about $4 billion in the fourth quarter from $3.8 billion in 2006.
Analysts polled by Thomson Financial expected the railroad to earn $1.77 per share on revenue of $4.2 billion.
“Despite record-high diesel fuel prices and winter weather challenges, we turned in a solid fourth-quarter performance to post another record year for our shareholders and improved service for our customers,” said Jim Young, Union Pacific’s chairman and CEO.