Railroad News

UP posts Q4 2020 results, increases capex for 2021

Rail News Home Union Pacific Railroad 1/21/2021 Rail News: Union Pacific Railroad
image Union Pacific Corp. today reported fourth-quarter 2020 net income of $1.38 billion, or $2.05 per diluted share, near the previous year's Q4 results of $1.4 billion, or $2.02 per diluted share. The Q4 2020 results include a previously announced $278 million pre-tax, non-cash impairment charge. Without that charge, the Class I's adjusted income was $1.6 billion, or $2.36 per diluted share. "These outstanding results demonstrate the true potential of our franchise as we leveraged all three profitability drivers simultaneously — volume growth, productivity and pricing — to produce record fourth-quarter results," said UP Chairman, President and Chief Executive Officer Lance Fritz in a press release. UP's operating revenue declined 1% to $5.1 billion in the quarter compared with the same period in 2019. Business volumes, as measured by total revenue carloads, climbed 3%. Premium volumes rose, while bulk was flat and industrial traffic declined, UP officials said. In addition, quarterly freight revenue fell 1%, as volume growth and core pricing gains were offset by decreased fuel surcharge revenue and a less favorable business mix. UP reported a 61% operating ratio for the quarter compared with 59.7% in Q4 2019. When adjusted for the impairment charge, the Class I's operating ratio was 55.6% — an all-time quarterly record. "While the economic outlook for 2021 remains uncertain, we will build off our solid 2020 performance to produce continued strong productivity through operational excellence," said Fritz. "We expect our enhanced service product will support both solid core pricing gains while also increasing our share of the freight transportation market." Also today, UP reported it plans to spend $2.9 billion on capital expenditures this year, up from $2.8 billion in 2020. The 2021 capital plan includes $1.8 million for infrastructure improvements; $255 million for locomotives and equipment; $535 million for capacity/commercial facilities; $235 million for technology; and $80 million for positive train control/energy management systems.

Contact Progressive Railroading editorial staff.

More News from 1/21/2021


Copyright

© © Trade Press Media Group, Inc.

Continue reading
6 Hits

UP to open Twin Cities intermodal terminal

Rail News Home Union Pacific Railroad 11/23/2020 Rail News: Union Pacific Railroad
image The new service will feature domestic intermodal movements between Minneapolis/St. Paul and Los Angeles.Photo – up.com

Union Pacific Railroad last week announced the opening of a Twin Cities intermodal terminal, which will launch intermodal service to Minneapolis in January 2021.

The new service will feature domestic intermodal movements between Minneapolis/St. Paul and Los Angeles, UP officials said in a press release.

...

Copyright

© © Trade Press Media Group, Inc.

Continue reading
41 Hits

UP to pay pandemic bonus to agreement employees

Rail News Home Union Pacific Railroad 11/11/2020 Rail News: Union Pacific Railroad
image "The pivotal role these essential employees play delivering critical supplies and keeping the economy open cannot be emphasized enough," said UP Chairman, President and Chief Executive Officer Lance Fritz.Photo – up.com

Union Pacific Railroad yesterday announced agreement employees who worked at least 30 days during the pandemic will receive a one-time $1,000 gross bonus payment in December.

Pending union approval, all current agreement employees — including those furloughed — who worked at least 30 days between March 1 and Nov. 30 will be eligible to receive the bonus. The days worked do not need to be consecutive, UP officials said in a press release.

...

Copyright

© © Trade Press Media Group, Inc.

Continue reading
53 Hits

UP revenue, earnings fall in Q3, but operating ratio improves

Union Pacific Railroad today reported third-quarter 2020 net income decreased 12% to $1.4 billion, or $2.01 per diluted share, from $1.6 billion, or $2.22 per diluted share, in the same quarter last year.

Operating revenue in the quarter fell 11% to $4.9 billion from a year ago. Third-quarter business volumes, as measured by total revenue carloads, decreased 4%. Premium volumes increased compared to Q3 2019, while industrial and bulk declined, UP officials said in a press release.

...

Copyright

© © Trade Press Media Group, Inc.

Continue reading
58 Hits

UP named top ‘military-friendly’ employer

Rail News Home Union Pacific Railroad 9/29/2020 Rail News: Union Pacific Railroad
image More than 17 percent of Union Pacific employees have military backgrounds.Photo – UP

Union Pacific Railroad was designated the top “Military Friendly Employer” in the transportation industry for 2021 and ranked No. 7 overall by Viqtory Media, publisher of G.I. Jobs magazine.

More than 17 percent of UP employees, or 6,300, are veterans and active-service military members. 

...

Copyright

© © Trade Press Media Group, Inc.

Continue reading
51 Hits

Contact Us

VISIT US

35505 Cooper Road
Brookshire, TX 77423
View a Map of Our Location

OUR HOURS

Monday - Friday
8 AM - 5 PM
Saturday - Sunday
CLOSED

TALK TO US

Phone
281.392.4850

CONNECT WITH US