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Union Pacific posts 154pc profit leap thanks to US tax cuts
来源： 编辑：编辑部 发布：2018/01/30 08:55:30
THE Union Pacific Railroad UP posted 154 per cent increase in 2017 net profit to US$10.7 million year on year, drawn on revenues of $21.2 billion, which increased 6.5 per cent.
Fourth quarter net profit increased 563.6 per year on year to $7.3 billion, from revenues of $5.5 billion, which increased five per cent over 2016's results.
This astonishing case of profit surpassing revenue arises from factoring in the massive US Government cross-the-board tax cuts.
"Fourth quarter 2017 results include previously-disclosed adjustments reflecting the impact of corporate tax reform," said the UP statement.
"Excluding those items, 2017 fourth quarter adjusted net income was $1.2 billion, or $1.53 per diluted share, five and 10 per cent increases, respectively, when compared to 2016," said UP.
"I am pleased with the results achieved. While we have room for improvement, that doesn't include the dedication and hard work of our employees as they Build America," said UP chairman, president and CEO Lance Fritz.
Last quarter freight revenue increased five per cent year on year, as increased fuel surcharge revenue, core pricing gains, positive volume and positive mix of traffic all contributed to the increase.
"Quarterly train speed, as reported to the Association of American Railroads, was 25.1 mph, five per cent slower than the fourth quarter 2016.Union Pacific repurchased 9.2 million shares in the fourth quarter 2017 at an aggregate cost of $1.1 billion," said the Union Pacific statement.
Said Mr Fritz: "We are optimistic the economy will favour a number of our market segments leading to another year of positive volume growth. Increased unit volume, combined with inflation plus core pricing and G55-0 productivity initiatives, should result in another year of revenue growth and improved margins."
UP said freight revenue totalled $19.8 billion, a seven per cent increase when compared to 2016. Carloadings were up two per cent versus 2016, with increases in industrial products and coal business groups. Average diesel fuel prices increased 22 per cent to $1.81 per gallon in 2017 from $1.48 per gallon in 2016.
Fourth quarter net profit increased 563.6 per year on year to $7.3 billion, from revenues of $5.5 billion, which increased five per cent over 2016's results.
This astonishing case of profit surpassing revenue arises from factoring in the massive US Government cross-the-board tax cuts.
"Fourth quarter 2017 results include previously-disclosed adjustments reflecting the impact of corporate tax reform," said the UP statement.
"Excluding those items, 2017 fourth quarter adjusted net income was $1.2 billion, or $1.53 per diluted share, five and 10 per cent increases, respectively, when compared to 2016," said UP.
"I am pleased with the results achieved. While we have room for improvement, that doesn't include the dedication and hard work of our employees as they Build America," said UP chairman, president and CEO Lance Fritz.
Last quarter freight revenue increased five per cent year on year, as increased fuel surcharge revenue, core pricing gains, positive volume and positive mix of traffic all contributed to the increase.
"Quarterly train speed, as reported to the Association of American Railroads, was 25.1 mph, five per cent slower than the fourth quarter 2016.Union Pacific repurchased 9.2 million shares in the fourth quarter 2017 at an aggregate cost of $1.1 billion," said the Union Pacific statement.
Said Mr Fritz: "We are optimistic the economy will favour a number of our market segments leading to another year of positive volume growth. Increased unit volume, combined with inflation plus core pricing and G55-0 productivity initiatives, should result in another year of revenue growth and improved margins."
UP said freight revenue totalled $19.8 billion, a seven per cent increase when compared to 2016. Carloadings were up two per cent versus 2016, with increases in industrial products and coal business groups. Average diesel fuel prices increased 22 per cent to $1.81 per gallon in 2017 from $1.48 per gallon in 2016.