Union Pacific's capital program in 2019 totaled $3.2 billion.Union Pacific's reportable personal injury rate of 0.90 incidents per 200,000 employee hours increased 11 percent compared to full year 2018.Terminal dwell was 24.8 hours, a 17 percent improvement compared to full year 2018.Freight car velocity was 208 daily miles per car, a 6 percent improvement compared to full year 2018.Union Pacific recognized a payroll tax refund of $78.5 million, along with associated interest income of $31.3 million in 2019.Average diesel fuel prices decreased 7 percent to $2.13 per gallon in 2019 from $2.29 per gallon in 2018.Fuel consumption rate, measured in gallons of fuel per thousand gross ton miles, improved 2% in 2019 compared to 2018.Union Pacific's operating ratio improved to a best ever 60.6 percent, 2.1 points lower than 2018.Carloadings were down 6 percent versus 2018, with growth in industrial volumes more than offset by fewer agricultural products, premium and energy shipments. Freight revenue totaled $20.2 billion, a 5 percent decrease compared to 2018.Operating income totaled $8.6 billion, which was flat compared to 2018. Operating revenue totaled $21.7 billion compared to $22.8 billion in 2018. Summary of Fourth Quarter Freight Revenuesįor the full year 2019, Union Pacific reported net income of $5.9 billion or $8.38 per diluted share, which represents a 1 percent decrease and 6 percent increase, respectively, when compared to 2018. The Company repurchased 3.6 million shares in fourth quarter 2019 at an aggregate cost of $599 million.Terminal dwell was 23.3 hours, a 13 percent improvement compared to fourth quarter 2018.Quarterly freight car velocity was 220 daily miles per car, a 5 percent improvement compared to fourth quarter 2018.Union Pacific's 59.7 percent operating ratio represented a fourth quarter record and the third consecutive quarter below 60 percent, improving 1.9 points compared to fourth quarter 2018.The $2.16 per gallon average quarterly diesel fuel price in fourth quarter 2019 was 7 percent lower than fourth quarter 2018.Quarterly freight revenue declined 10 percent, compared to fourth quarter 2018, as core pricing gains and a positive business mix were offset by lower volumes and decreased fuel surcharge revenue.Industrial volumes were flat compared to 2018, while agricultural products, premium and energy shipments declined. Fourth quarter business volumes, as measured by total revenue carloads, decreased 11 percent compared to 2018. Operating revenue of $5.2 billion was down 9 percent in fourth quarter 2019, compared to fourth quarter 2018. "The work our employees are doing as part of Unified Plan 2020 has been transformational and key to providing a safe, reliable and consistent service product for our customers." "Given the challenging volume environment, we leveraged strong productivity to deliver solid financial results including the third consecutive quarter with an operating ratio below 60 percent," said Lance Fritz, Union Pacific chairman, president and chief executive officer. This compares to $1.6 billion, or $2.12 per diluted share, in the fourth quarter 2018. 23, 2020 /PRNewswire/ - Union Pacific Corporation (NYSE: UNP) today reported 2019 fourth quarter net income of $1.4 billion, or $2.02 per diluted share. Its Premium shipments include finished automobiles, automotive parts, and merchandise in intermodal containers, both domestic and international.OMAHA, Neb., Jan. Its Industrial shipments consist of several categories, including construction, industrial chemicals, plastics, forest products, specialized products, metals and ores, petroleum, liquid petroleum gases (LPG), soda ash, and sand. Its Bulk shipments consist of grain and grain products, fertilizer, food and refrigerated, and coal and renewables. Its Railroad's diversified business mix includes Bulk, Industrial, and Premium. It connects 23 states in the western two-thirds of the country and maintains coordinated schedules with other rail carriers to move freight to and from the Atlantic Coast, the Pacific Coast, the Southeast, the Southwest, Canada, and Mexico. The Company operates through its principal operating company, Union Pacific Railroad Company (UPRR). Union Pacific Corporation is a railroad operating company in the United States.
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