Union Pacific’s Record Profit Driven by Petroleum Shipments
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Union Pacific Corp., the biggest U.S. railroad by sales, reported the highest quarterly profit in its history as shipments of petroleum products almost doubled and rates climbed.
Third-quarter net income rose 15 percent to $1.04 billion, or $2.19 a share, from $904 million, or $1.85, a year earlier, the Omaha, Nebraska-based company said today in a statement. That compared with the $2.18 average estimate of 27 analysts in a Bloomberg survey.