News Summary: Union Pacific 3Q profit up 10 pct

AP News
Posted: Oct 17, 2013 3:47 PM

FREIGHT FORTUNES: Union Pacific reported net income of $1.15 billion, or $2.48 per share, in the third quarter. That's 10 percent higher than last year because higher rates offset flat volume.

COAL CRUNCH: The railroad delivered 7 percent fewer carloads of coal during the third quarter as cheap natural gas prices continued to limit demand.

PRICING POWER: Union Pacific says it was able to increase its core shipping prices by 3.5 percent in the quarter. That helped the railroad drive revenue 4 percent higher to $5.57 billion.