Union Pacific profit up 47% in 2010

Union Pacific profit up 47% in 2010

   Union Pacific Corp. said it had net profit of $2.8 billion in 2010, 47 percent more than in 2009.

   Freight revenue increased 20 percent to $16.1 billion. The railroad said all six of its reporting business groups — industrial products, intermodal, energy, agriculture, chemicals and automotive — grew in 2010.

   Intermodal revenue carloads increased 19 percent while freight revenue from intermodal grew 20 percent to $2.49 billion. Average revenue per intermodal car increased 9 percent to $974.

   'As we look ahead to 2011, we are encouraged by signs of a slowly

strengthening economy,' said Jim Young, chairman and chief executive.