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UP Reports Record Earnings

Union Pacific’s second-quarter net income grew to $1 billion, or $2.10 per share, from $785 million, or $1.59 per share, in the previous year. On average, 26 analysts polled by Thomson Reuters expected earnings per share of $1.97 for the quarter. Total operating revenues for the nations largest railroad quarter were $5.22 billion, up 7% from $4.86 billion in the earlier year quarter.

Analysts estimated revenues of $5.23 billion for the quarter. Five of the railroads six business groups reported freight revenue growth although shipments of coal were down which could pose challenges for the railroad the rest of the year. Union Pacific runs between 20 and 30 trains a day through Hutchinson and Reno County and services most of the city larger grain elevators. Eaton and Siemens will both release their quarterly earnings next week. ADM and Oneok the following week.

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