Union Pacific Reports Record Quarter

OMAHA, Neb. — Union Pacific Corporation today reported 2010 third quarter net income of $778 million, or $1.56 per diluted share, compared to $514 million, or $1.01 per diluted share, in the third quarter 2009. Third quarter Operating Revenue grew 20 percent to $4.4 billion versus $3.7 billion in the third quarter 2009.

“Strong volume growth, pricing gains and operating efficiency combined to produce another record quarter for our Company, ” said Jim Young, Union Pacific chairman and chief executive officer. “New ‘bests’ in both Customer Satisfaction and Operating Ratio demonstrate the solid performance of our operations. As business levels increase on our railroad, we are leveraging our capital investments, delivering on customer commitments and realizing the potential of the UP franchise.”

Third quarter business volumes, as measured by total revenue carloads, grew 14 percent versus 2009’s recession-affected levels as all six Union Pacific business groups reported volume growth. Quarterly operating revenue increased 20 percent in the third quarter 2010 to $4.4 billion versus $3.7 billion in the third quarter 2009.