Union Pacific’s 3rd quarter profit up 27%

Union Pacific’s 3rd quarter profit up 27% Union Pacific Corp., owners of North America’s largest railroad Union Pacific Railroad, reported third quarter net income of $532 million, up 27 percent against $420 million in the same quarter last year.
   UP’s operating income in the three month period was up 34 percent to $1 billion from $752 million a year before. Operating revenue improved 5 percent to $4.19 billion from $3.98 billion.
   “Our third quarter performance was driven by strong results on both sides of the earnings equation, setting volume and revenue records while at the same time improving safety and productivity,” said Jim Young, UP’s chairman and chief executive officer.
   For the year to date, UP’s net income increased 22 percent to $1.36 billion from $1.12 billion after nine months in 2006. Operating income improved 21 percent to $2.51 billion on a revenue gain of 4 percent to $12.08 billion.