January 21, 2021
UP’s ‘True Potential’ Shown in 4Q20 Results (Updated, Cowen)
Written by
Marybeth Luczak, Executive Editor
UP’s 2020 capital program totaled $2.8 billion. One of the railroad's projects was the Dec. 29 installation of a new master retarder in Houston's Englewood Yard; work took close to eight hours (pictured).
Union Pacific (UP) reported Jan. 21 that it earned $1.38 billion, or $2.05 per diluted share, in fourth-quarter 2020—comparable to fourth-quarter 2019’s $1.4 billion, or $2.02 per diluted share. Excluding a previously announced $278 million pre-tax, non-cash impairment charge related to its Brazos yard investment, adjusted fourth-quarter 2020 income was $1.6 billion, or $2.36 per diluted share.
For fourth-quarter 2020, UP operating revenue of $5.1 billion was down 1% vs. the same quarter in 2019. Business volumes, as measured by total revenue carloads, increased 3% compared with 2019; premium volumes increased 5% compared with 2019, while bulk was flat (up just 1%) and industrial declined 7%.