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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
12/02/201610:18:44Initial Statement of Beneficial Ownership (3)
11/23/201610:52:15Statement of Changes in Beneficial Ownership (4)
11/21/201614:15:53Statement of Changes in Beneficial Ownership (4)
11/21/201611:21:00Union Pacific Corporation CFO Rob Knight to Address the Credit...
11/21/201606:08:01Prospectus Filed Pursuant to Rule 424(b)(3) (424b3)
11/21/201606:02:57Notice of Effectiveness (effect)
11/17/201616:52:13Current Report Filing (8-k)
11/17/201615:32:00Union Pacific Appoints Eric Butler Executive Vice President and...
11/17/201614:45:00Union Pacific Corporation Elects Deborah Chase Hopkins to Board...
11/17/201614:17:00Union Pacific Corporation Announces New Share Repurchase Authorization...
11/11/201615:33:00Union Pacific Railroad Applauded for Military-Friendly Efforts
11/03/201614:29:04Securities Registration: Business Combination (s-4)
11/01/201608:00:00Union Pacific Corporation CFO Rob Knight to Address the Stephens...
10/21/201606:39:00Today's Top Supply Chain and Logistics News From WSJ
10/20/201615:51:23Quarterly Report (10-q)
10/20/201609:40:00Union Pacific Profit Falls 13% on Demand Woes
10/20/201609:29:00Union Pacific Profit Falls 13% on Demand Woes
10/20/201608:04:18Current Report Filing (8-k)
10/20/201608:00:00Union Pacific Reports Third Quarter 2016 Results
10/18/201610:20:00Kansas City Southern Earnings Slip as Commodities Slide

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