Union Pacific Reports 4Q Net Income of $1.2 Billion, Up From $1 Billion in 4Q 2012
Date Posted: January 24, 2014
Omaha, NE—Union Pacific Corporation (NYSE: UNP) reported Jan. 23 net income of $1.2 billion, or $2.55 per diluted share, for the fourth quarter 2013 compared to $1 billion, or $2.19 per diluted share, in the fourth quarter 2012.
"For the first time in six quarters, we reported overall volume growth, despite significantly weaker coal shipments.
"It highlights the strength of our diverse franchise, the extensive network reach we have to various markets, and a strong grain harvest," said Jack Koraleski, Union Pacific chief executive officer.
"Volume growth, combined with solid core pricing gains and our continued focus on safety, service, and efficiency, generated a record fourth quarter operating ratio of 65.0 percent.
"The fourth quarter wrapped up another tremendous year for Union Pacific, with our overall financial performance exceeding all previous milestones."
Fourth Quarter Summary
Operating revenue increased 7 percent in the fourth quarter 2013 to more than $5.6 billion versus $5.25 billion in the fourth quarter 2012. Fourth quarter business volumes, as measured by total revenue carloads, grew 2 percent compared to 2012.
Volume growth from agricultural products, automotive, industrial products and intermodal shipments more than offset declines in coal and chemical volumes.
For the full year 2013, Union Pacific reported net income of $4.4 billion or $9.42 per diluted share.
This compares to $3.9 billion or $8.27 per diluted share in 2012, 11 and 14 percent increases, respectively.
Operating revenue totaled a record $21.96 billion versus $20.9 billion in 2012.
Operating income increased 10 percent to more than $7.4 billion, up from $6.7 billion in 2012.
"As we look at 2014, we see signs that the economy is slowly strengthening.
"We're well-positioned for economic growth and are confident in our ability to deliver on our customers' growing transportation needs," Koraleski said.
"We'll continue our unrelenting focus on both safety and service to our customers. We strongly believe in the power and potential of the Union Pacific franchise to drive even greater financial performance and shareholder returns in the years to come."
For more information, call 402-544-0100.