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Union Pacific operating revenue $5.5 billion

Staff writer ▼ | July 22, 2013
Union Pacific Corporation reported 2013 second quarter net income of $1.1 billion, or $2.37 per diluted share, compared to $1 billion, or $2.10 per diluted share, in Q2 2012.
Union Pacific
Union PacificUnion Pacific Corporation reported 2013 second quarter net income of $1.1 billion, or $2.37 per diluted share, compared to $1 billion, or $2.10 per diluted share, in Q2 2012.


"Union Pacific achieved record financial milestones this quarter. We managed our network efficiently and continued to show the agility of our strong franchise. When combined with solid core pricing gains, we more than offset the slight shortfall in volumes to generate best-ever quarterly earnings and operating ratio performance," said Jack Koraleski, Union Pacific chief executive officer.

Despite lower carloadings, operating revenue increased 5 percent in the second quarter 2013 to $5.5 billion versus $5.2 billion in the second quarter 2012. Second quarter business volumes, as measured by total revenue carloads, decreased 1 percent compared to 2012. Volume declines in agricultural products and intermodal shipments more than offset growth in chemicals and automotive shipments. Volumes for industrial products and coal shipments were flat versus 2012.

Quarterly freight revenue increased 5 percent compared to the second quarter 2012, driven by core pricing gains. Union Pacific's operating ratio of 65.7 percent was a best-ever quarterly record, 1.3 points better than the second quarter 2012 and 0.9 points better than the previous best-ever quarterly record set in the third quarter 2012.

The average quarterly diesel fuel price of $3.10 per gallon in the second quarter 2013 was down 3 percent compared to the second quarter 2012. The Customer Satisfaction Index of 93 tied the second quarter 2012 record. Quarterly train speed, as reported to the Association of American Railroads, was 25.7 mph, down 3 percent versus the second quarter 2012.

The company repurchased nearly 3.1 million shares in the second quarter 2013 at an average share price of $151.42 and an aggregate cost of $463 million.


 

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