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Union Pacific Reports Second Quarter Earnings

US.WEBTRAINS.NET
08/07/2009 AT 06:01

The continued weak global economy affected all six of Union Pacific's business groups. Second quarter 2009 operating revenues totaled $3.3 billion versus $4.6 billion in the second quarter 2008. In addition:
- Business volumes, as measured by total revenue carloads, were down 22 percent versus the second quarter 2008. Reflecting lower volumes, year-over-year freight revenues declined 28 percent to $3.1 billion in the second quarter 2009. Lower fuel surcharge revenue in the second quarter, down over $500 million year-over-year, contributed to this decline.
- Quarterly diesel fuel prices decreased 56 percent from an average of $3.60 per gallon in the second quarter 2008 to an average of $1.57 per gallon. The second quarter 2009 fuel consumption rate, measured by gallons per thousand gross ton-miles, declined 6 percent to a quarterly best rate of 1.142.
- Second quarter 2009 operating ratio improved 2.3 points to 77.3 percent, in part as a result of the Company's on-going efficiency initiatives and pricing gains. Union Pacific's ongoing safety performance contributed about 1 point to the quarterly operating ratio improvement. A semi-annual actuarial study identified continued safety improvements and lower estimated settlement costs, resulting in a $38 million casualty expense reduction year-over-year.
- Union Pacific's Customer Satisfaction Index improved 4 points to 87, matching the Company's best quarterly mark.
- Quarterly train speed, as reported to the Association of American Railroads, was 27.4 mph, up nearly 5 mph or 20 percent versus the second quarter 2008. This improvement reflected productivity and operational improvements as well as lower volumes.
- In June 2009, the Company closed a land sale to Colorado's Regional Transportation District, resulting in a $116 million pre-tax gain, adding $72 million to net income.

Crossing and Pedestrian Safety

special passenger train is making stops this week in several Iowa, Minnesota and Wisconsin communities over Union Pacific Railroad lines to promote highway-railroad crossing and pedestrian safety through a program called Operation Lifesaver.

UP Finalizes Land Transfer to Regional District

Union Pacific Corporation announced the closing of a $118 million transfer of land to the Regional Transportation District (RTD) in Colorado.

Sixth 'Next-Generation' Genset Locomotive

Union Pacific Railroad is on schedule to put a sixth "next-generation" ultra-low emitting Genset switching locomotive into service at its Roseville, Calif., rail yard. The Genset will be field tested at Union Pacific's Fort Worth, Texas, rail yard before being deployed in Roseville in July.

UP : $27 Million for Track Improvements

Trains will operate more efficiently as a result of more than $27 million in track improvements made by Union Pacific Railroad to its line between Henry, Neb., and 25 miles east of Lusk, Wyo.

Track Improvements between Bluff and Neelyville

Motorists will spend less time at crossings waiting for trains to pass with trains operating more efficiently as a result of the more than $3 million in track improvements made by Union Pacific Railroad to its line from Poplar Bluff-to-Neelyville, Mo.

Track Improvements to Its Excelsior to Allerton

Motorists will spend less time at crossings waiting for trains to pass with trains operating more efficiently as a result of more than $4 million in track improvements made by Union Pacific Railroad to its Excelsior Springs, Mo., to Allerton, Iowa, line.

$6 Million for Track Improvements from Kansas City

Motorists will spend less time at crossings waiting for trains to pass as a result of more than $6 million in track improvements made by Union Pacific Railroad to its Kansas City to Jefferson City line. The track improvements will allow trains to operate more efficiently on the route.

$4 Million for West Chicago Line

Motorists will spend less time at crossings waiting for trains to pass as a result of $4 million in track improvements made by Union Pacific Railroad to its West Chicago Line.

$8 Million for Northeast Illinois Line

Motorists will spend less time waiting at crossings for trains to pass as a result of $8 million in track improvements being made by Union Pacific Railroad to its Northeast Illinois line.

A New Train Control For Los Angeles Area By 2012

Union Pacific Corporation announced that it has developed an implementation plan that should deliver Positive Train Control (PTC) technology to UP rail lines shared with commuter lines in the LA region in the year 2012.

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