The Omaha, Neb.-based Class I railway recorded a net income of $7.3 billion for the fourth quarter of 2017 and $10.7 billion for the entire year.
Union Pacific Corp. reported a net income of $7.3 billion, or $9.25 per diluted share for the fourth quarter of 2017, up from $1.1 billion, or $1.39 per diluted share for the fourth quarter of 2016, according to the company’s latest financial statements.
The Omaha, Neb.-based Class I railway posted operating revenues of $5.5 billion for the fourth quarter of 2017, up 5 percent year-over-year.
Fourth quarter 2017 results included previously-disclosed adjustments reflecting the impact of corporate tax reform. Excluding those items, 2017 fourth quarter adjusted net income stood at $1.2 billion, up 5 percent year-over-year.
Fourth quarter business volumes, as measured by total revenue carloads, increased 1 percent from the fourth quarter of 2016, as increases in industrial products and chemicals offset declines in agricultural products, automotive and coal. Meanwhile, intermodal volumes were flat compared to the fourth quarter of 2016.
For the full year of 2017, Union Pacific reported a net income of $10.7 billion on revenues of $21.2 billion compared to $4.2 billion in net income and $19.9 billion in revenues for 2016.
Excluding the impact of corporate tax reform, adjusted net income totaled $4.6 billion, a 10 percent increase when compared to 2016.
“We are optimistic the economy will favor a number of our market segments leading to another year of positive volume growth. Increased unit volume, combined with inflation plus core pricing and G55-0 productivity initiatives, should result in another year of revenue growth and improved margins,” said Lance Fritz, Union Pacific chairman, president and chief executive officer. “We will continue to execute our value-track strategy to benefit our employees, partner with the communities we serve, provide our customers an excellent experience, and generate strong returns for our shareholders.”
