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Rail News: Union Pacific Railroad

UP thrives in first quarter despite economic discord

Union Pacific Corp. April 25 reported $222 million in first-quarter net income, which rose 19 percent compared with $181 million in first-quarter 2001.
UP also reported $489 million in quarterly operating income, increasing 14 percent compared with $430 million last year, and $2.96 billion in quarterly operating revenues, rising 1 percent compared with $2.94 billion in 2001's first quarter.
Meanwhile, the railroad's operating ratio improved 2.2 points to 81.6; employee productivity (gross ton-miles/employee) increased 7 percent; and fuel and utility costs fell 33 percent.
"We managed to stay the course in a rough economy," said Chairman and Chief Executive Officer Dick Davidson in a prepared statement. "We achieved double-digit growth in earnings per share despite operating revenues that were even year over year."

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More News from 4/25/2002