UP SEES CONTINUED GROWTH
Union Pacific Corp. the Omaha, Neb.-based railroad, reported third-quarter net income of $256 million, up 4 percent from the year-earlier period.
The third quarter of 1999 included $27 million in income from discontinued operations. Subtracting that income, UP's third-quarter 2000 income was up 17 percent.
UP's operating income, excluding Overnite Transportation, the less-than-truckload carrier, was $550 million, up 8 percent over the third quarter of 1999.
The railroad's commodity revenue rose 5 percent to a record $2.65 billion. Automotive revenue rose 17 percent to $279.9 million. Intermodal rose 10 percent to $506.3 million. Chemicals rose 3 percent to $411.9 million, energy was up 5 percent to $585.8 million, industrial rose 2 percent to $501.4 million, while agricultural feel 1 percent to $363.4 million.
For the first nine months of 2000, UP's new income rose 27 percent to $685 million. Operating income rose 19 percent to $1.6 billion.