Union Pacific reports record profit

Union Pacific reports record profit

   Union Pacific Corp. said it had record second quarter net profit of $711 million compared to $465 million in the same 2009 period when profit was boosted $72 million related to a Colorado land sale.

   Revenue was $4.2 billion in the quarter, 27 percent higher than the $3.3 billion in the second quarter of 2009.

   The company said second quarter business volumes, as measured by total revenue carloads, grew 18 percent versus the prior year's recession-impacted levels. The company said it was the first time in six years that all six Union Pacific business groups — agriculture, automotive, chemicals, energy, industrial and intermodal — had volume growth in the same quarter.

   Intermodal revenue was up 35 percent to $804 million on a 24 percent increase in revenue carloads and 10 percent increase in average revenue per car.