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Jul
21

Union Pacific posts operating revenue, income gains in Q2

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Jul
21

Union Pacific posts operating revenue, income gains in Q2

Union Pacific Railroad today reported second-quarter 2022 operating revenue jumped 14% to $6.3 billion and operating income climbed 1% to $2.5 billion compared with the same period a year ago despite service problems that have plagued the major Class Is in recent months.

UP reported Q2 net income of $1.8 billion, or $2.93 per diluted share, compared with $1.8 billion, or $2.72 per diluted share, a year ago.

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Jul
19

UP starts returning its rail cars to service

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Jul
19

UP starts returning its rail cars to service

Rail News Home Union Pacific Railroad 7/19/2022 Rail News: Union Pacific Railroad
Union Pacific Railroad is beginning to "strategically and gradually" return some of its rail cars to the network, as the Class I continues to work on improving freight-rail service, a UP executive informed customers late last week.In a July 15 letter, UP Executive Vice President Kenny Rocker reported that, minus an expected slowdown over the July 4th weekend, UP’s metrics continued to improve this month compared with performance in April."We are in the beginning phases of strategically and gradually returning some Union Pacific-owned cars into the network," the letter stated, which is posted on UP's website. "We will continue to work with each of you to balance the need to bring additional cars online as we increase car velocity and reduce cycle times."Rocker wrote to customers in April to announce UP would remove 2% to 3% of its own rail cars and would begin metering traffic if customers didn’t voluntarily reduce their inventory. The railroad also announced it has added dozens of locomotives since January to help move cars along.Rocker's letters to customers are part of a broader effort by the nation's largest freight railroads to improve their service to customers. After being inundated with shipper complaints about freight-rail service, the Surface Transportation Board ordered UP and some other Class Is to correct their service problems and regularly report their progress to the board.In his July 15 letter, Rocker also reported that UP's hiring efforts are "in full swing" to add train crew members to help step up service levels."Year to date, approximately 400 [new hires] have graduated, and approximately 500 more are in training,” Rocker wrote. "In July, we expect to hire enough crew members to offset turnover and then some, and in the third quarter, we expect to see a significant number of graduates."

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Jun
16

UP funds trade school expansion in Texas

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Jun
16

UP funds trade school expansion in Texas

Rail News Home Union Pacific Railroad 6/16/2022 Rail News: Union Pacific Railroad
Southwest Texas Junior College students huddle around the contribution check from UP. Behind the check are, from left, Ken Kuwamura (in light blue), UP manager of talent acquisition; Raquel Espinoza, UP senior director of public affairs; Esmerelda Arreola, the college's Diesel Technology Program lab assistant; Texas State Rep. Eddie Morales and his wife Helen Morales; and Tom Blevins, UP superintendent of train operations. Photo – up.com

Union Pacific Railroad has partnered with Southwest Texas Junior College to expand the school's Diesel Technology Program in Eagle Pass, Texas.

UP contributed $380,000 to help the college pay for a 2,100-square-foot addition to the diesel technology training facility, as well as the purchase of hands-on training equipment.

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Jun
07

UP joins RailPulse coalition

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Jun
07

UP joins RailPulse coalition

Rail News Home Union Pacific Railroad 6/7/2022 Rail News: Union Pacific Railroad
Union Pacific Railroad today announced it has joined the RailPulse coalition to support its effort to develop, broaden and accelerate the use of GPS and other telematics technologies in North America’s freight-rail industry.UP is RailPulse’s seventh member. The other six are GATX Corp., Genesee & Wyoming Inc., Norfolk Southern Railway, TrinityRail, Watco and The Greenbrier Cos.RailPulse was formed in 2020 as a coalition of rail-car owners working together to support the development and use of GPS and other telematics technologies. The goal is to provide real-time information and sustained visibility of a rail car’s status, location and condition to shippers, rail-car owners and railroads."The use of technology to increase shipment visibility is critical for ensuring we meet the needs and expectations of our customers who rely upon us for safe and reliable service," said Kenny Rocker, UP's executive vice president of marketing and sales, in a press release.

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May
12

UP marks 30th anniversary of Mexican franchise

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May
12

UP marks 30th anniversary of Mexican franchise

Rail News Home Union Pacific Railroad 5/12/2022 Rail News: Union Pacific Railroad
The Class I's Mexican franchise was created May 8, 1992. Photo – UP

Union Pacific Railroad this week marked the 30th anniversary of Union Pacific de Mexico, the Class I's Mexican franchise that was created on May 8, 1992.

UP has been a "protagonist of growth" amid increased trade between the United States and Mexico in segments including beer, grain, automotive, appliances, metals, coal and finished fuels, wrote Vice President of Mexico, Marketing and Sales Beto Vargas Garcia on UP's Inside Track website. The Class I began doing business in Mexico two years before the North American Free Trade Agreement went into effect in 1994, when Mexico's rail industry was privatized.

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Apr
26

UP honors 70 companies for safe chemical transport

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Apr
26

UP honors 70 companies for safe chemical transport

Rail News Home Union Pacific Railroad 4/26/2022 Rail News: Union Pacific Railroad
Union Pacific Railroad has awarded 70 companies with the 2021 Pinnacle Award for their commitment to safely transporting chemicals by rail.The annual award recognizes UP customers who implement release prevention protocols, corrective action plans and have zero non-accident releases of regulated hazardous materials shipments, UP officials said in a press release."Union Pacific is honored to partner with companies that share our commitment to the safe transportation of chemicals and, in the process, the protection of the environment. This award recognizes the work these companies do every single day to prevent releases and safeguard the communities where we all live and work," said Jacque Bendon, UP vice president of industrial, marketing and sales.Click here to see the full list of award winners.

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Apr
21

UP revenue, income rose in Q1, but operating performance missed expectations

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Apr
21

UP revenue, income rose in Q1, but operating performance missed expectations

Union Pacific Railroad today reported revenue growth drove first-quarter records for operating revenue, operating income, net income and earnings per share.

The Class I posted first-quarter 2022 net income of $1.6 billion, or $2.57 per diluted share, compared with net income of $1.3 billion, or $2 per diluted share, in the same quarter a year ago.

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Apr
19

UP recognized as 'best place to work' for women

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Apr
19

UP recognized as 'best place to work' for women

Rail News Home Union Pacific Railroad 4/19/2022 Rail News: Union Pacific Railroad
"Being identified by the Women's Choice Awards is exemplary of our meaningful progress toward our diversity, equity and inclusion goals," said Beth Whited, EVP – sustainability and strategy. Photo – up.com

Union Pacific Railroad has been named a "Best Place to Work" by the Women’s Choice Awards.

The Class I earned the distinction in three categories: best companies for women; best companies for diversity; and best companies for millennials. The Women’s Choice Awards honor companies based on female and diversity representation in the workforce, work-life balance, professional development opportunities and other benefits.

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Apr
18

UP expands ESG strategy

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Apr
18

UP expands ESG strategy

Rail News Home Union Pacific Railroad 4/18/2022 Rail News: Union Pacific Railroad
"The [survey] responses helped us gain a deeper understanding of our impact on the communities we serve and enhance our ESG goals as we navigate the global landscape ahead," said UP Chairman, President and CEO Lance Fritz. Photo – up.com

Union Pacific Railroad last week published its latest Building America Report, which includes an expanded approach to the Class I’s environmental, social and governance (ESG) strategy.

The report identifies the company’s ESG priorities and explains the company’s ongoing community support, supplier diversity and philanthropic initiatives.

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Mar
24

UP's largest corporate disaster relief donation targets Ukraine relief efforts

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Mar
24

UP's largest corporate disaster relief donation targets Ukraine relief efforts

Rail News Home Union Pacific Railroad 3/24/2022 Rail News: Union Pacific Railroad
Add Union Pacific Railroad to the growing list of rail industry constituents that are donating big dollars to relief efforts in Ukraine.The Class I yesterday announced it will provide $500,000 — its largest-ever corporate disaster relief donation — to support humanitarian operations in the war-torn nation. The donation will be split evenly between the American Red Cross and Save the Children.Employees also have been overwhelming generous with donations to Ukraine relief efforts, driving nearly $50,000 in matching funds from the company, UP officials said in a press release.Earlier this month, the Class I announced a two-for-one match program for employees who donate to six organizations providing direct support to Ukrainians: the Salvation Army, American Red Cross, UNICEF, Global Giving Foundation, Doctors Without Borders and Save the Children."Our hearts are with the Ukrainian people who did nothing to provoke this attack and whose lives are irrevocably changed," said UP Chairman, President and CEO Lance Fritz. "Our employees' charitable donations clearly demonstrate they’re taking a stand with the Ukrainian people, and we’re proud to let their generosity guide our corporate contribution to two of many worthy organizations providing immediate aid."

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