HUTCHINSON, Kan. — Union Pacific Corporation today reported fourth quarter net income of $1.7 billion, or $2.66 per diluted share. This compares to $1.6 billion, or $2.36 per diluted share The previous year.
Reported net income for the full year 2021 was $6.5 billion, or $9.95 per diluted share. These full year results compare to adjusted full year 2020 net income of $5.6 billion, or $8.19 per diluted share.
“The Union Pacific team concluded its most profitable year ever in 2021. We produced double digit fourth quarter revenue growth by leveraging our great rail franchise to generate positive business mix and core pricing gains, despite ongoing global supply chain challenges that impacted volumes,” Lance Fritz, Union Pacific chairman, president and chief executive officer said. “For the third consecutive year we improved our fuel consumption rate, taking steps to reduce our carbon footprint and meet the goals of our 2021 Climate Action Plan. While our safety and operational performance in 2021 did not meet expectations, we look to convert recent progress into sustained improvement in 2022. Although uncertainty remains around COVID variants and supply chain disruptions, we see a positive demand environment in 2022 and continued traction from business development efforts driving growth as we deliver value to all our stakeholders.”
The railroad is suffering from crew shortages due to COVID which reduced train miles by 12%. Car loadings fell 4% as shipments of intermodal containers fell by 15% and automobile shipments fell by 10% both showing the continued logistical problems in west coast ports.
UP operates about 25 trains per day in Reno County which include intermodal and grain shipments.
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