Railroad Giant Union Pacific Reports 7% Profit Surge in Q4, Boosting Share Price
Union Pacific (NYSE: UNP), a leading railroad operator, has announced a 7% increase in its fourth-quarter profits, buoyed by increased shipments of grain and fertilizer and solid pricing gains.
The company disclosed a net income of $1.76 billion ($2.91 per share) in the quarter, surpassing the $1.65 billion ($2.71 per share) recorded a year prior.
Following the news, Union Pacific's Omaha, Nebraska-based shares witnessed a 4% uptick in premarket trading.
As an economic bellwether for the United States, Union Pacific has capitalized on enhanced revenue in its grain segments, prompted by higher West Coast imports and a robust harvest season.