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Union Pacific profit up 18pc to US$1.3 billion as revenue rises 7pc
来源： 编辑：编辑部 发布：2018/04/28 15:46:08
THE Union Pacific Corporation, the biggest railway in the US, reported an 18.1 per cent year-on-year increase in first quarter net profit to US$1.3 billion, drawn on revenues of $5.5 billion, up seven per cent.
"Our solid first quarter results were a direct reflection of the tremendous effort put forth by our entire workforce, and had it not been for some network congestion it would have been even better," said company chairman and president Lance Fritz
First quarter business volumes, as measured by total revenue carloads, increased two per cent compared to 2017. Volume increases in energy, industrial and premium more than offset a decline in agricultural products.
Quarterly train speed was 24.8 mph, four per cent slower than the first quarter 2017. Union Pacific's reportable personal injury rate of 0.74 per 200,000 employee-hours was a first quarter record, improving 17 per cent compared to the first quarter 2017.
The company repurchased 9.3 million shares in the first quarter 2018 at an aggregate cost of $1.2 billion. The New York-listed Union Pacific redeemed $155 million of outstanding debentures and mortgage bonds, resulting in an approximate eight-cent reduction to diluted earnings per share.
Said Mr Fritz: "We are pleased with the improvement we have seen in recent weeks and are confident in the plan we have in place to continue building on the progress already made. With the economy favouring a number of our market segments, we are well positioned to benefit from another year of positive volume growth and solid core pricing gains."
"Our solid first quarter results were a direct reflection of the tremendous effort put forth by our entire workforce, and had it not been for some network congestion it would have been even better," said company chairman and president Lance Fritz
First quarter business volumes, as measured by total revenue carloads, increased two per cent compared to 2017. Volume increases in energy, industrial and premium more than offset a decline in agricultural products.
Quarterly train speed was 24.8 mph, four per cent slower than the first quarter 2017. Union Pacific's reportable personal injury rate of 0.74 per 200,000 employee-hours was a first quarter record, improving 17 per cent compared to the first quarter 2017.
The company repurchased 9.3 million shares in the first quarter 2018 at an aggregate cost of $1.2 billion. The New York-listed Union Pacific redeemed $155 million of outstanding debentures and mortgage bonds, resulting in an approximate eight-cent reduction to diluted earnings per share.
Said Mr Fritz: "We are pleased with the improvement we have seen in recent weeks and are confident in the plan we have in place to continue building on the progress already made. With the economy favouring a number of our market segments, we are well positioned to benefit from another year of positive volume growth and solid core pricing gains."