Union Pacific Q1 profit up 24%
Union Pacific Corp. said Tuesday it had first quarter net profit of $639 million, 24 percent more than in the first quarter of 2010.
Operating revenue was $4.5 billion, 13 percent more than in the first quarter 2010.
The railroad saw volume growth in all commodities. Revenues by segment were:
' Industrial Products up 15 percent.
' Intermodal up 15 percent.
' Chemicals up 13 percent.
' Energy up 13 percent.
' Automotive up 12 percent.
' Agricultural up 11 percent.
On UP's outlook for the remainder of the year, “the economy is showing signs of continued, gradual improvement, and we’re optimistic about the growth opportunities ahead,” said Jim Young, chairman and chief executive officer.