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UNION PACIFIC REPORTS FOURTH QUARTER EARNINGS GROWTH DRIVEN BY
PRODUCTIVITY AND LOWER ENERGY COSTS
Economic Uncertainty Creates Challenges in 2009
FOR IMMEDIATE RELEASE
Fourth Quarter 2008 Highlights
Diluted earnings per share improved 41 percent to $1.31.
Operating revenues totaled $4.3 billion, up two percent.
Operating income grew 32 percent to $1.14 billion.
Operating ratio was 73.4 percent, a 6 point improvement.
Net income increased 35 percent to $661 million.
Customer Satisfaction Index increased 7 points to 85.
Full Year 2008 Highlights
Diluted earnings per share improved 31 percent to $4.54.
Operating revenues totaled $18.0 billion, up 10 percent.
Operating income grew 21 percent to $4.1 billion.
Operating ratio was 77.3 percent, a 2 point improvement.
Net income increased 26 percent to $2.3 billion.
Return on invested capital grew 1.5 points to 10.2 percent.
Customer Satisfaction Index increased four points to 83.
OMAHA, Neb., January 22, 2009 Union Pacific Corporation (NYSE: UNP) today reported 2008 fourth quarter net income of $661 million, or $1.31 per diluted share, a 35 percent increase compared to $491 million, or $0.93 per diluted share for the fourth quarter of 2007. The company posted quarterly operating revenues of $4.3 billion in 2008 versus $4.2 billion in the fourth quarter 2007.
Union Pacific posted solid earnings for the quarter and the year, despite numerous challenges, said Jim Young, Union Pacific chairman and chief executive officer. We increased profitability by operating a safe and efficient railroad that delivered excellent service and value for our customers. In the fourth quarter, our operating ratio improved significantly as we benefited from lower fuel costs, better pricing, and productivity gains, all of which helped offset the impact of declining volumes in this difficult economic environment.
The following information was filed by Union Pacific Corp (UNP) on Thursday, January 22, 2009 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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