By Matt Grossman
Union Pacific Corp. recorded greater earnings year over year in the fourth quarter as revenue rose from most freight categories.
The Omaha, Neb.-based freight railroad's earnings were $2.66 a share, up from $2.05 a share a year earlier. Analysts were expecting earnings of $2.61 a share.
Net income climbed to $1.71 billion, from $1.38 billion.
Revenue was $5.73 billion, an increase from $5.14 billion in 2020's fourth quarter. Analysts surveyed by FactSet had forecast $5.6 billion in revenue.
Bulk-freight revenue rose 16% to $1.81 billion, driven by a 36% increase in coal and renewables revenue. Industrial revenue was up 14%, while premium revenue was up 1%. That included a 3% decline in revenue from automotive freight.
Average revenue per car was 15% higher.
Operating expenses rose 5% year over year to $3.29 billion, including an 80% rise in spending on fuel.
Write to Matt Grossman at matt.grossman@wsj.com
(END) Dow Jones Newswires
01-20-22 0835ET