Business

Union Pacific railroad's 1Q profit up 14 percent

Posted April 17, 2014 1:01 am

Associated Press

OMAHA, Neb. - The harsh winter didn't keep Union Pacific railroad from delivering 14 percent higher quarterly profit as it hauled more agricultural, industrial and coal shipments.

The Omaha, Neb.-based railroad said Thursday that it generated $1.09 billion net income, or $2.38 per share, in the first quarter. That's up from $957 million, or $2.03 per share, a year ago.

Union Pacific's revenue grew 7 percent to $5.64 billion.

Analysts surveyed by FactSet expected Union Pacific to report earnings per share of $2.37 on $5.7 billion revenue.

Union Pacific appeared to handle the weather challenges better than eastern railroad CSX, which reported a 14 percent drop in quarterly profit earlier this week.

Union Pacific Corp. operates 32,400 miles of track in 23 states from the Midwest to the West and Gulf coasts.

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