HUTCHINSON, Kan. — The first quarter earnings parade for companies with ties to Reno County kicked off Thursday with Union Pacific reporting first quarter income of $1.6 billion or $2.57 per diluted share. That compares with $1.3 billion in 2021. Operating revenue went up 17% to $5.9 billion, driven by higher fuel surcharge revenue, volume growth, core pricing gains, and a positive business mix.
Freight car revenue increased across the board by 12% led by shipments of grain products and coal which has rebounded amid higher fuel prices.
Despite the strong numbers, the nation's largest railroad still suffered from a slow down of train delivery times by 5%. The railroad is still suffering from crew shortages and stranded intermodal shipments from the west coast which was below the railroad's expectations according to President and CEO Lance Fritz.
Union Pacific operates about 25 trains per day through Reno County and was the eighth-highest property tax payer in the county at $1.02 million.
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