Union Pacific says its third-quarter profit rose 15 percent as price increases and more automotive and chemical shipments helped the railroad offset a drop in coal shipments. The railroad reported $1 billion in net income, or $2.19 per share. Union Pacific, based in Omaha, said Thursday that revenue grew 5 percent to $5.34 billion. Declining coal volumes has been a challenge for the major freight railroads all year. Union Pacific says its total shipment volume declined only slightly because of increases in automotive, chemical and intermodal shipments.
Union Pacific says its third-quarter profit rose 15 percent as price increases and more automotive and chemical shipments helped the railroad offset a drop in coal shipments. The railroad reported $1 billion in net income, or $2.19 per share. Union Pacific, based in Omaha, said Thursday that revenue grew 5 percent to $5.34 billion. Declining coal volumes has been a challenge for the major freight railroads all year. Union Pacific says its total shipment volume declined only slightly because of increases in automotive, chemical and intermodal shipments.