HUTCHINSON, Kan. — Union Pacific saw its earnings slide under pressure from the pandemic and the arctic weather in the first quarter of 2021. The nation's largest railroad reported net income of $1.3 billion compared to $1.5 billion last year.
“The first quarter presented some real challenges that impacted our results, but the team did a great job managing the business,” said Lance Fritz, Union Pacific chairman, president, and chief executive officer. “We generated solid productivity through efficient use of our resources despite the significant weather event that covered most of our network in February and early March. I am particularly proud of the women and men of Union Pacific who rolled up their sleeves and kept the network safe, efficient and stable.”
Operating revenue was $5 billion which was down 4%. Car loads declined as well with freight revenue dropping 5%. Only grain and intermodal shipments increased in the quarter.
UP averages about 25 trains per day through the area and is the fourth largest property tax payer in the county at $1.19 million and a total valuation of more than $7.2 million.
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