Union Pacific posts record third-quarter revenue and profits

Union Pacific reported record third-quarter revenue and profits as higher volume, pricing, and efficiency gains more than offset the impact of rising fuel prices and inflation.

“Union Pacific’s third-quarter results demonstrate our ability to safely deliver the service we sold our customers while efficiently handling 6% volume growth,” Chief Executive Jim Vena said on the railroad’s (NYSE: UNP) earnings call today.

Operating income increased 15%, to $2.94 billion, as revenue grew 15%, to $7.19 billion. Earnings per share rose 16%, to $3.49.

The railroad’s operating ratio was 59.1%, a 0.1-point improvement compared to a year ago. Workforce productivity, measured by car-miles per employee, improved 5%.

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