JOC Staff | Oct 18, 2012 1:44PM EDT
Union Pacific Railroad today reported third quarter profit of over $1 billion, up 10.6 percent from 2011’s third quarter profit of $904 million.
Financial results for the quarter, ending Sept. 30, were the best ever for the railroad franchise, UP CEO Jack Koraleski said.
Quarterly freight revenue was $5 billion, an increase of 4 percent from the third quarter in 2011, mainly driven by core pricing gains of 5 percent.
Volumes overall fell slightly from 2011, but declines in shipments of coal and agricultural and industrial products were offset by growth in chemicals, automotive and intermodal cargo.
