Union Pacific reported first quarter profit of $863 million, 35 percent more than the $639 million it earned in the same same 2011 period.
Revenue was $4.8 billion in the first quarter of 2012, 14 percent more than in the first quarter of 2011.
The railroad said first quarter business volumes, as measured by total revenue carloads, grew 1 percent versus 2011. Four of UP’s six business groups – automotive, industrial products, chemicals and intermodal – reported volume growth, while coal and agricultural product volumes fell.
But freight revenues were up in all segments: automotive (26 percent), industrial products (25 percent), chemicals (16 percent), intermodal (15 percent), agricultural (6 percent) and energy (5 percent).
“Although softer coal demand remains a challenge, the benefits of our diverse franchise should support continued opportunities in other markets, driving record financial results for the year,” said Jack Koraleski, Union Pacific chief executive officer, in a statement.
While intermodal carloads rose just 1 percent to 778,000 containers or trailers, revenue per car climbed 13 percent to $1,169, the railroad said.
UP’s 1Q profit rises 35%
