By Dave Sebastian
Union Pacific Corp. said its profit rose for the second quarter as revenue and business volumes increased.
The Omaha, Neb.-based company on Thursday posted a net income of $1.8 billion, compared with $1.13 billion in the comparable quarter last year. Earnings were $2.72 a share, compared with $1.67 a share in the prior year.
Operating revenue rose 30%, to $5.5 billion. Analysts polled by FactSet were looking for $5.36 billion.
Union Pacific said its operating ratio was 55.1%. Higher fuel prices hurt operating ratio by 2.1 percentage points, the company said.
The company's rail network continues to be affected by supply-chain disruptions, particularly in the intermodal space, said Lance Fritz, chairman, president and chief executive.
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(END) Dow Jones Newswires
July 22, 2021 08:27 ET (12:27 GMT)Copyright (c) 2021 Dow Jones & Company, Inc.