Union Pacific registers double digit growth in Q2

Union Pacific has announced a 10% year-over-year increase in revenue in its Q2 results. Operating income grew to over $2bn after a 21% year-over-year increase, whilst net income stood at $1.2bn.

Operating revenue of $5.3bn was registered as a result of a substantial increase in volumes. Total revenue carloads increased 5% compared to the same period in 2016. Volume increases in coal, industrial products, agricultural products and intermodal, more than offset declines in chemicals and automotive.

Lance Fritz, Union Pacific Chairman, President and CEO said, “Absolute business volumes should be stronger in the second half than the first half, although year-over-year comparisons will be more challenging. In this environment we will focus on our growth opportunities. ”

Source: Union Pacific