Union Pacific is reporting a 13 percent jump in fourth-quarter profit as strong grain, automotive and industrial shipments offset a 10 percent drop in loads of coal. The Omaha, Neb., railroad earned $1.2 billion net income, or $2.55 per share, in the last three months of 2013. That’s up from last year’s $1 billion net income, or $2.19 per share.
Revenue improved 7 percent to $5.63 billion as the railroad increased rates and volume grew 2 percent overall. Analysts surveyed by FactSet had expected Union Pacific Corp. to report quarterly earnings per share of $2.49 per share on revenue of $5.57 billion.
CEO Jack Koraleski said Thursday that it looks like the economy will continue to strengthen slowly this year, and the railroad is ready to handle the growth. UP runs about 25 trains per day through Reno County and services most of the larger elevators in Hutchinson.
Other companies with ties to the area to report quarterly earnings include Siemens January and ADM on February 4.