OMAHA, Neb. Union Pacific reported 2013-second quarter net income of $1.1 billion, its best-ever quarterly earnings. In 2012, second quarter earnings were $1 billion. Despite fewer carloadings, operating revenue increased 5 percent in the second quarter to $5.5 billion versus $5.2 billion last year. Second quarter business volumes, as measured by total revenue carloads, slid 1 percent compared to 2012. Declines in agricultural products and intermodal shipments offset growth in chemicals and automotive shipments. Volumes for industrial products and coal shipments were flat versus 2012. Union Pacifics operating ratio was 65.7 percent a best-ever quarterly record, 1.3 points better than the second quarter 2012 and 0.9 points better than the previous best-ever quarterly record set in the third quarter 2012. |