Union Pacific’s 2Q Profit Falls

Union Pacific Corp.’s second-quarter profit fell 12% to $468 million, or 92 cents per share, from $531 million, or $1.02, a year ago.

Revenue dropped 28% to $3.3 billion, the company said Thursday.

Revenue from intermodal freight fell 23% to $595 million, while automotive revenue plunged 54% to $163 million, UP said.

Union Pacific, the largest U.S. freight railroad by revenue, operates west of the Mississippi River.