Market Updates
Union Pacific Net Rises 29%, Guided Lower Operating Ratio
Scott Peters
21 Apr, 2022
New York City
Union Pacific Corp said first quarter 2022 revenues increased 17% to $5.8 billion, net income increased 22% to $1.63 billion, and earnings per share rose 29% to $2.57 from $2.00 a year ago.
Operating revenue of $5.9 billion was up 17% driven by higher fuel surcharge revenue, volume growth, core pricing gains, and a positive business mix.
Average revenues per car increased 12% to $2.711 and operating performance ratio improved 70 basis points to 59.4%.
The railroad operator repurchased 11.0 million shares in first quarter 2022 at an aggregate cost of $2.8 billion.
The company reaffirmed its earlier guidance of dividend payout target of 45% of earnings and capital spending plan of $3.3 billion and share repurchase in line with 2021.
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