Union Pacific’s 4Q Profit Jumps 35%
Union Pacific Corp. said Thursday its fourth-quarter profit rose 35% to $661 million, or $1.31 per share, from $491 million, or 93 cents per share, last year.
The company attributed itsÌýrise in profitsÌýto falling fuel costs, improved productivity and increased shipping prices.
Revenue from intermodal freight fell 7% to $705 million.
For the full 2008 year, profit increased 26% from the year before to $2.3 billion, or $4.54 per share, the company said.
Union Pacific, the largest U.S. freight railroad by revenue, operates west of the Mississippi River.