Union Pacific’s Income Rises to $1.37 Billion
Union Pacific Corp.’s third-quarter net income rose to $1.37 billion, or $1.53 per share, from $1.15 billion, or $1.24, during the same time last year.
Revenue at Omaha, Nebraska-based Union Pacific increased 11% to $6.2 billion as shipments rose 7%.
Freight revenue for the quarter increased 11% to $5.8 billion, and revenue from intermodal shipments increased 15% to $1.18 billion, Union Pacific reported.
“Assuming the economy and weather cooperate, we are well-positioned to finish up the year with record results,” CEO Jack Koraleski said in a statement.
“We continue to see tremendous opportunity across our diverse franchise and remain focused on improving our network velocity and fluidity so that we can leverage these opportunities by safely providing our customers with excellent service and our shareholders with strong returns,” he added.
The company repurchased more than 8.3 million shares in the third quarter for $856 million at an average price of $102.54 per share.
