UnionPacific Corp. reported net income of $1.2 billion, or $2.55 per diluted share, for the fourth quarter of 2013, compared to $1billion, or$2.19per diluted share, in the fourth quarter of 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, UnionPacific chief executive officer. “Volume growth, combinedwith solidcore pricinggains andour continuedfocus onsafety, service, andefficiency, generateda record fourthquarteroperatingratioof 65.0percent. The fourth quarterwrappedup another tremendous yearforUnionPacific, withour overall financialperformance exceeding allprevious milestones.”
FourthQuarter Summary Operatingrevenue increased7percent in the fourthquarter2013 to more than$5.6billion versus $5.25 billioninthe fourthquarter 2012. Fourthquarterbusiness volumes, as measuredby totalrevenue carloads, grew 2percent compared to 2012. Volume growth from agricultural products, automotive, industrial products and intermodal shipments more than offset declines in coal and chemical volumes.