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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;

Stock News for Union Pacific (UNP)
02/05/201610:30:00Union Pacific Boosts Public Safety
02/04/201612:10:00Union Pacific Corporation Announces a $3.75 Billion Capital Plan...
02/03/201613:07:51Statement of Changes in Beneficial Ownership (4)
02/03/201612:10:09Statement of Changes in Beneficial Ownership (4)
02/03/201611:53:47Statement of Changes in Beneficial Ownership (4)
02/03/201611:26:47Statement of Changes in Beneficial Ownership (4)
02/03/201611:15:55Statement of Changes in Beneficial Ownership (4)
02/03/201611:00:40Statement of Changes in Beneficial Ownership (4)
02/03/201609:00:00Union Pacific Corporation CFO Rob Knight to Address Stifel Nicolaus...
01/27/201616:00:09Amended Statement of Ownership (sc 13g/a)
01/26/201617:40:00Canadian National Railway Reports Higher Profit, Boosts Dividend
01/26/201612:50:16Statement of Changes in Beneficial Ownership (4)
01/22/201603:03:00Coal, Oil Drop Casts Pall Over Rail Firms
01/21/201620:43:00Energy-Market Slump Weighs on Big Railroads
01/21/201620:18:00Energy-Market Slump Weighs on Big Railroads
01/21/201614:39:00Union Pacific Profit Falls 22% on Weak Freight Volume -- Update
01/21/201609:10:00Union Pacific Profit Down on Weak Freight
01/21/201609:01:00Union Pacific Profit Falls 22% on Weak Freight Volume
01/21/201608:07:24Current Report Filing (8-k)
01/21/201608:00:00Union Pacific Reports Fourth Quarter and Full Year 2015 Results

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