Union Pacific posts profit increase of 15 percent

By Freddie Pierce
Follow @WDMEllaCopeland Union Pacific Corp, the largest railroad network in the United States, has posted a 15 percent rise in profits following a rise...

Union Pacific Corp, the largest railroad network in the United States, has posted a 15 percent rise in profits following a rise in automobile and chemical shipments.

Although posting a fall in coal volumes, the company released a statement today detailing profits of $1.04 billion in the third quarter, compared with $904 million in the third quarter of 2011.

"Despite a 12 percent decline in coal volumes and significantly weaker steel and scrap metal markets, we generated best-ever financial results across the board," said Jack Koraleski, Union Pacific chief executive officer. "We achieved solid core pricing gains, managed our network efficiently and delivered on the benefits of our diverse franchise with growth in other markets."

SEE RECENT STORIES FROM THE WDM CONTENT NETWORK:

Tesco utilises rail freight to cut CO² emissions

DHL invests €100m in Indian supply chain division

COSCO and China Shipping to join forces

According to the statement by UPS, freight revenue for Chemicals an Automotives went up by 17 and 15 percent respectively. Intermodal rates were up eight percent, whereas industrial products were up two percent. Agricultural and coal revenues were down four percent and five percent respectively.

"As we look out over the next several months, the political and financial challenges in the U.S. and abroad have increased economic uncertainty," Koraleski said. "In this environment, we'll continue to be agile as we were in the third quarter. We'll adapt to changing market conditions and leverage our diverse franchise to provide excellent customer service and generate strong returns for our shareholders."

Share

Featured Articles

PwC Examines Digital Trends in Operations for 2024

PwC’s Digital Trends in Operations Survey for 2024 demonstrates a significant proportion of firms are struggling to achieve their desired outcomes

P&SC LIVE New York 2024 Virutal - SAVE THE DATE

Don’t miss out on your chance to attend Procurement & Supply Chain LIVE New York in 2024 Virtually, 5-6 June

Charities & NGOs Submit to The Global P&SC Awards for FREE

The Global Procurement & Supply Chain Awards hosted at P&SC LIVE London Sept 2024 welcomes charities and NGOs to submit for FREE

Procurement & Supply Chain LIVE: 2024 Dates to Remember

Digital Supply Chain

Gartner Unveils Top Supply Chain Technology Trends for 2024

Technology

What the Latest CSDDD Milestone Means for Supply Chains

Sustainability