The Omaha-based Union Pacific railway posted a second quarter year-on-year 18 per cent net profit increase to US$1.3 million, drawn on revenues of $6 billion, up 10 per cent.
"Union Pacific achieved record quarterly results, leveraging the strengths of our diverse franchise to handle strong demand in the face of challenging operating conditions," said Union Pacific CEO Jack Koraleski.
Second quarter business volumes, as measured by total revenue carloads, increased eight per cent year on year, said the company.
Volume increased in agricultural products, intermodal, industrial products, automotive and coal. Chemical volumes declined slightly versus 2013 as a reduction in crude oil more than offset growth in base chemicals.
Quarterly diesel fuel price of $3.10 per gallon in the second quarter was flat year on year. Train speeds, as reported to the Association of American Railroads, were down seven per cent to 23.9 mph.
"We are optimistic about the second half," Mr Koraleski said. "As always, we are closely monitoring the economic landscape, along with the major drivers across all of our business segments."
"Union Pacific achieved record quarterly results, leveraging the strengths of our diverse franchise to handle strong demand in the face of challenging operating conditions," said Union Pacific CEO Jack Koraleski.
Second quarter business volumes, as measured by total revenue carloads, increased eight per cent year on year, said the company.
Volume increased in agricultural products, intermodal, industrial products, automotive and coal. Chemical volumes declined slightly versus 2013 as a reduction in crude oil more than offset growth in base chemicals.
Quarterly diesel fuel price of $3.10 per gallon in the second quarter was flat year on year. Train speeds, as reported to the Association of American Railroads, were down seven per cent to 23.9 mph.
"We are optimistic about the second half," Mr Koraleski said. "As always, we are closely monitoring the economic landscape, along with the major drivers across all of our business segments."