Union Pacific Profits Up 9.5%, Easily Beat Forecasts
Union Pacific’s profits increased 9.5% to $1.07 billion dollars, or $1.32 per share, after strong results on a year-over-year basis in the coal, agricultural and intermodal transportation.
Longshoremen’s Union Pledges to Fight Port Automation as Execs Call it Inevitable
The head of the International Longshoremen’s Association plans to fight efforts to automate terminals as part of the negotiations beginning in February on a new contract to cover 65,000 dockworkers. However, a panelist at the 2017 Transportation Research Board conference described it as inevitable.
Union Pacific Acquires Fruit, Vegetable Shipping Firm Railex
Union Pacific, the nation’s largest railroad, has acquired the refrigerated and cold-storage facilities of Railex in Rotterdam, N.Y., Wallula, Washington, and Delano, California.
Union Pacific Agrees to Inspection, Maintenance Improvements
Federal railroad authorities reached an agreement with Union Pacific Railroad requiring improvements to the railroad’s inspection and safety procedures.
NTSB Rules Crew Was Likely Asleep During Fatal Arkansas Freight Train Crash
WASHINGTON — A fatal collision of two Union Pacific freight trains in Arkansas resulted from a fatigued engineer and conductor who were both likely asleep aboard one of the trains, federal investigators ruled Dec. 6.
Union Pacific Net Income Slips 13% as Freight Volume Declines
Union Pacific Corp. net income slipped 13% to $1.13 billion, or $1.36 per share, hurt by lower intermodal and other freight volume and weaker pricing.
October 20, 2016Union Pacific, Canadian Pacific Earnings Slump; Kansas City Southern Gains
Union Pacific Corp. and Canadian Pacific Railway Ltd. this week reported second-quarter net income fell 19% and 16% respectively in a weak rail freight market, while smaller carrier Kansas City Southern raised net income 7% with help from a tax credit.
Union Pacific Profit Beats Estimates Amid Cost Cutting
Union Pacific Corp. reported first-quarter earnings higher than analysts’ expectations as the railroad cut costs and boosted prices to mitigate a steep drop in cargo demand, pushing shares to their highest value in five months.
Union Pacific’s Fritz to Become Chairman on Oct. 1
Union Pacific Corp. selected CEO Lance Fritz to become its chairman Oct. 1 when Jack Koraleski retires from the post after 43 years at the railroad.
West Coast Port Gridlock Hampers Union Pacific Earnings
Union Pacific Corp., the largest U.S. railroad, posted first-quarter profit and sales below estimates as West Coast port congestion and slack coal demand caused carloads to decline.