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Union Pacific 2Q Profit Climbs 10% As Volumes Increase

DOW JONES NEWSWIRES Union Pacific Corp.'s (UNP) second-quarter profit jumped 10% as the U.S. railroad company posted a double-digit increase in freight revenue across all product categories, again offsetting higher fuel costs. The company has said it expects freight volume will continue to increase in the second half of the year, growth that would build on a sharp jump last year when the transportation industry began to see a turnaround. In a sign of strength, Union Pacific also boosted its quarterly dividend by 25%, as the company noted it was generating record free cash flow. Union Pacific has reported broad volume growth for five consecutive quarters, with particular strong growth in shipments of chemicals and industrial products. Union Pacific reported a profit of $785 million, or $1.59 a share, up from $711 million, or $1.40 a share, a year earlier. Union Pacific said flood-related issues increased operating expenses by 2 cents a share and resulted in missed coal revenue of about $20 million, or 2 cents. Revenue jumped 16% to $4.86 billion. Analysts surveyed by Thomson Reuters expected a profit of $1.58 per share on revenue of $4.74 billion. Operating margin narrowed to 28.7% from 30.6%. Freight revenue climbed across all categories, with energy--the largest contributor--reporting a 14% jump. Revenue per carload climbed 3%, but the average fuel price per gallon was up 44% to an average of $3.29. On Tuesday, peer CSX Corp. (CSX) posted a 22% increase in second-quarter profit as overall volume jumped, led by its intermodal, forest-products and food-and-consumer segments. Union Pacific's shares closed Wednesday at $99.83 and were inactive premarket. -By John Kell, Dow Jones Newswires; 212-416-2480; john.kell@dowjones.com

Stock News for Union Pacific (UNP)
DateTimeHeadline
07/01/201612:54:50Initial Statement of Beneficial Ownership (3)
06/30/201614:07:00Union Pacific Recognized as Top Green Provider for Fresh Food...
06/24/201608:00:00Services Sector Equities Coverage -- CSX Corp., Union Pacific...
06/23/201616:01:00Union Pacific Faulted in Crude Oil Train Derailment -- Update
06/23/201614:00:00Union Pacific Faulted for Failure to Maintain Track
06/23/201613:26:00Union Pacific Faulted in Crude Oil Train Derailment
06/23/201609:00:00Union Pacific Corporation Invites You to Join Its Second Quarter...
06/17/201616:50:23Annual Report of Employee Stock Plans (11-k)
06/17/201616:43:30Annual Report of Employee Stock Plans (11-k)
06/17/201616:37:35Annual Report of Employee Stock Plans (11-k)
06/17/201616:31:05Annual Report of Employee Stock Plans (11-k)
06/13/201611:00:00Union Pacific Ascends Newsweek's 2016 Green Rankings
06/07/201615:51:43Current Report Filing (8-k)
06/07/201613:01:00Union Pacific Corporation CFO Rob Knight to Address 2016 Citi...
06/07/201609:43:00Union Pacific Names Rhonda S. Ferguson Executive Vice President...
06/06/201612:26:24Statement of Changes in Beneficial Ownership (4)
06/03/201622:15:00Train Carrying Oil Derails in Columbia River Gorge -- 2nd Update
06/03/201618:59:00Train Carrying Oil Derails in Columbia River Gorge -- Update
06/03/201618:31:00Train Carrying Oil Derails in Columbia River Gorge
06/01/201612:35:00Safer Operations, Community Impacts and Emissions Reduction Efforts...

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