Union Pacific reports improved profit
Union Pacific Corp. reported first quarter profit of $443 million, 15 percent higher than the $386 million in the same 2007 period.
'Overall, it was a solid quarter for us as we converted profitable revenue growth and reliable, efficient service into record earnings despite a soft economic environment,' said Jim Young, chairman and chief executive officer.
Freight revenue was $4.1 billion for the quarter up 11 percent over the same 2007 period.
The company said six business groups posted record first quarter revenue, while three groups — agricultural, chemical and energy, set all-time marks. Intermodal freight revenue was up 5 percent.
