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Union Pacific Profit Tops Estimates on Higher Freight Prices

  • Railroad had its most profitable year ever, CEO Fritz says
  • Carload volumes are under pressure amid supply-chain woes
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Union Pacific Corp.’s profit topped analysts’ estimates after the railroad boosted prices and kept costs in check while it worked to untangle supply-chain knots that have hurt carload volume and service.

Earnings were $2.66 a share in the fourth quarter, up from $2.05 a year earlier, Union Pacific said Thursday in a statement. Analysts has expected $2.62, according to the average of estimates compiled by Bloomberg. Operating revenue rose 12% on strong pricing to $5.73 billion, while analysts had predicted $5.59 billion.