Union Pacific Corp. has reported net income of $4.2 billion in 2016, down 11 percent from the $4.8 billion in 2015, the railroad announced.
For the full year 2016, Union Pacific Operating revenue totaled $19.9 billion as compared to $21.8 billion in 2015. Operating income totaled $7.3 billion, a 10 percent decrease compared to 2015.
“While full-year volumes were down substantially year over year, we did see declines moderate in the fourth quarter,” Lance Fritz, Union Pacific chairman, president and CEO, said in a news release. “As we worked through the challenges of the year, we remained focused on the strategy we live each day through our six value tracks. Executing on these value tracks enables us to run a safe, efficient, and productive railroad while providing our customers an excellent value proposition.”