By ROD ZOOK
Hutch Post
HUTCHINSON, Kan. — Still hurting from the pandemic, Union Pacific showed positive numbers as they released their second quarter earnings.
The nation's largest railroad posted second quarter net income of $1.8 billion, or $2.72 per diluted share. This compares to $1.1 billion, or $1.67 per diluted share, in the second quarter of 2020. Operating revenue beat expectations at $5.5 billion and operating income totaled $2.5 billion.
The railroad still faced challenges in shipping, as high demand and breaks in the supply chain kept goods from moving, especially in the intermodal division. Still, carload revenue jumped 22%.
The railroad, like all transportation systems, is starting to feel the pinch from higher fuel prices. That could slow the continued recovery into the next quarter. The higher fuel number ate into the company’s operating ratio by more than 285 basis points.
Union Pacific has the fourth highest assessed value in the county, the UP operates about 25 trains per day throughout the area.
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