UP’s second quarter profits up 67%
Union Pacific Corp. Thursday reported double-digit increases for net income, operating income and operating revenues.
Second quarter net income rose 67 percent to $390 million, compared to $233 million in the same quarter last year. Operating income was up 53 percent at $717 million from $468 million. Operating revenue increased 17 percent to $3.92 billion, from $3.34 billion a year ago.
“Quarterly operating income was the best ever in the history of the railroad,” said Jim Young, UP’s president and chief executive officer. “Reaching this milestone so early in the year is a clear indication that the demand environment remains very strong, and that we are moving volume more efficiently.”
For the year to date, UP’s net income increased 94 percent to $701 million from $361 million after the six months 2005. Operating income totaled $1.32 billion, up 69 percent compared to $781 million. Operating revenue was up 18 percent to $7.63 billion from $6.49 billion.
UP’s second quarter profits up 67%
