Union Pacific: increase in net income, third quarter

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Union Pacific Corporation said in 2021 that its third-quarter net income was $ 1.7 billion, or $ 2.57 per diluted share. This compares to $ 1.4 billion, or $ 2.01 per diluted share, in the third quarter of 2020.

UP successfully overcame global supply chain disruptions, a major bridge failure and additional weather events to produce strong quarterly revenue growth and financial results, said Lance Fritz, president, president and chief executive officer. management of Union Pacific.

Fritz said during the quarter, UP achieved solid base price gains, leveraged business development to produce a positive business mix, and generated productivity to offset stable volume. He said the company had set a quarterly fuel consumption rate record towards its goal of reducing absolute greenhouse gas emissions.

As we close 2021, we are committed to improving our safety performance and service products to help our customers and the entire supply chain meet the high demand for freight transportation. “

Third Quarter 2021 Finances vs. Third Quarter 2020
  • Operating revenue of $ 5.6 billion, up 13%.
  • Business volumes, measured by total revenue wagons, remained stable.
  • Union Pacific’s operating ratio of 56.3% improved 240 basis points. The increase in fuel prices had a negative impact of 140 basis points on the operating ratio.
  • Operating income of $ 2.4 billion increased 20%.
  • The company repurchased 8.6 million shares in the third quarter of 2021 at a total cost of $ 1.8 billion.
Operational performance for the third quarter of 2021 compared to the third quarter of 2020
  • Network operations hampered by wildfires and other weather events, reflected in the quarterly freight car speed of 195 daily miles per car, a decrease of 13%.
  • Quarterly locomotive productivity was 127 gross ton-miles (GTM) per power day, a decrease of 8%.
  • Quarterly labor productivity was 1,044 car kilometers per employee, an improvement of 5%.
  • The average maximum train length was 9,359 feet (1.77 miles long), an increase of 4%.
  • The fuel consumption rate, measured in gallons of fuel per thousand GTMs, improved by 1%.
  • Union Pacific’s reportable bodily injury rate year-to-date has deteriorated to 1 per 200,000 employee-hours, from 0.90 year-to-date.

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