Union Pacific: Fourth Quarter and Full Year 2020 Results

Union Pacific: Fourth Quarter and Full Year 2020 Results

(STL.News) Union Pacific Corporation (NYSE: UNP) today reported 2020 fourth quarter net income of $1.4 billion, or $2.05 per diluted share.  These results include a previously announced $278 million pre-tax, non-cash impairment charge.  Excluding the effects of that charge, adjusted fourth quarter net income was $1.6 billion, or $2.36 per diluted share.  This compares to $1.4 billion, or $2.02 per diluted share, in the fourth quarter 2019.

“These outstanding results demonstrate the true potential of our franchise as we leveraged all three profitability drivers simultaneously – volume growth, productivity, and pricing – to produce record fourth quarter results,” said Lance Fritz, Union Pacific chairman, president, and chief executive officer.  “The women and men of Union Pacific persevered throughout the pandemic to provide our customers with a safe, reliable, and consistent service product.”

Fourth Quarter Summary

Operating revenue of $5.1 billion was down 1% in fourth quarter 2020 compared to fourth quarter 2019.  Fourth quarter business volumes, as measured by total revenue carloads, increased 3% compared to 2019.  Premium volumes increased compared to 2019, while bulk was flat and industrial declined. In addition:

  • Quarterly freight revenue declined 1% compared to fourth quarter 2019, as volume growth and core pricing gains were more than offset by decreased fuel surcharge revenue and a less favorable business mix.

Continue reading Union Pacific: Fourth Quarter and Full Year 2020 Results at STL.News.