Union Pacific Reports Record First Quarter

OMAHA, Neb. — Union Pacific Corp. reported 2011 first quarter net income of $639 million, or $1.29 per diluted share, compared to $516 million, or $1.01 per diluted share, in the first quarter 2010.

“We’ve started off strong in 2011 by achieving record results in the first quarter,” said Jim Young, Union Pacific chairman and chief executive officer. “We saw volume growth in all commodities and effectively leveraged that growth by running a safe and efficient network despite spiking fuel prices and winter weather challenges across most of the nation’s rail network. These efforts produced a best-ever first quarter operating ratio and record cash from operations.”

First quarter business volumes, as measured by total revenue carloads, grew 5 percent versus 2010.

All six Union Pacific business groups reported volume growth for the fourth consecutive quarter, with particularly strong growth in shipments of chemical and industrial products. Quarterly operating revenue increased 13 percent in the first quarter 2011 to $4.5 billion versus $4.0 billion in the first quarter 2010.