Union Pacific 4Q profit slips 4% on weather, hiring problems
Union Pacific’s fourth-quarter profit slipped 4% as severe winter weather snarled shipments in late December and disrupted the railroad’s efforts to eliminate the delayed deliveries and other problems shippers complained about last year
By JOSH FUNK
Published - Jan 24, 2023, 02:32 PM ET
Last Updated - Jun 23, 2023, 01:09 AM EDT
OMAHA, Neb. (AP) — Union Pacific's fourth-quarter profit slipped 4% as severe winter weather snarled shipments in late December and disrupted the railroad's efforts to eliminate the delayed deliveries and other problems shippers complained about last year.
The Omaha, Nebraska-based railroad said it earned $1.6 billion, or $2.67 per share, in the fourth quarter. That's down from $1.7 billion, or $2.66 per share, a year ago.
Union Pacific said its revenue grew 8% to $6.2 billion in the quarter as it increased prices, charged more fuel surcharges and delivered 1% more freight, but its expenses were up 14% at $3.8 billion.
