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Union Pacific profit rises 23% on higher industrial shipments -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – A Union Pacific railroad car is parked at a Burlington Northern Santa Fe train yard in Seattle (Washington, U.S.A), 02/10/2017 REUTERS/Chris Helgren

(Reuters) –Union Pacific Corp reported Thursday a 23% increase in its quarterly profits as it shipped more chemicals and metals, papers, and plastics to satisfy U.S. industry demand.

An increase in U.S. Industrial Production during the first 2 months of the quarter, and an increase in crude prices have benefited Union Pacific (34% of the company’s third quarter revenue was derived from its industrial shipments.

The quarter’s revenue carloads (or business volumes) were flat at 2.04million, due to supply chain disruptions in California and a California bridge outage.

Omaha-based business, headquartered in Nebraska, saw its total operating revenues rise 13% to $5.57 Billion.

Union Pacific’s net profit rose to $1.67Billion or $2.57 a share for the period ended September 30, from $1.36Billion or $2.01 a share a year earlier.

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