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Union Pacific 2014 profit up 18pc to US$5.2 billion, sales up 9pc
US western railway Union Pacific (UP) posted an 18.1 per cent year-on-year profit increase in 2014 to US$5.2 billion, drawn on revenues of $24 billion, up nine per cent.
Fourth quarter profit was up nine per cent to $1.4 billion drawn on revenues of $6.2 billion, also up nine per cent.
UP saw diesel fuel prices fall to $2.66 per gallon in the fourth quarter, 14 per cent below where it was a year earlier.
Automotive volume was flat but other traffic increased - industrial products by 15 per cent, intermodal by 11 per cent, coal by nine per cent, agricultural products by nine per cent and chemicals by eight per cent.
"Robust volumes challenged our network for much of the year, and we remained focused on adding the necessary resources to safely improve service," said CEO Jack Koraleski.
"Overall, the US economy continues to move forward at a moderate pace, but of course, there are always uncertainties. Clearly, one of the biggest uncertainties is the outlook for energy markets, which will bring both challenges and opportunities as we move ahead.
"We're entering the year well-resourced and we're looking forward to safely providing efficient, value-added service for our customers, and increasing returns for our shareholders in 2015," said Mr Koraleski.
Fourth quarter profit was up nine per cent to $1.4 billion drawn on revenues of $6.2 billion, also up nine per cent.
UP saw diesel fuel prices fall to $2.66 per gallon in the fourth quarter, 14 per cent below where it was a year earlier.
Automotive volume was flat but other traffic increased - industrial products by 15 per cent, intermodal by 11 per cent, coal by nine per cent, agricultural products by nine per cent and chemicals by eight per cent.
"Robust volumes challenged our network for much of the year, and we remained focused on adding the necessary resources to safely improve service," said CEO Jack Koraleski.
"Overall, the US economy continues to move forward at a moderate pace, but of course, there are always uncertainties. Clearly, one of the biggest uncertainties is the outlook for energy markets, which will bring both challenges and opportunities as we move ahead.
"We're entering the year well-resourced and we're looking forward to safely providing efficient, value-added service for our customers, and increasing returns for our shareholders in 2015," said Mr Koraleski.
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