(Reuters) -Union Pacific reported a rise in its second-quarter profit on Thursday, powered by robust demand for bulk and industrial shipments through multiple modes of transportation.
The company’s bulk shipments, which consists of grain products, fertilizer, coal and renewables, accounted for 32% of total freight revenues in 2024.
Union Pacific, seen as a bellwether for the U.S. economy, has, however, benefited from strong volumes in its grain and grain products segments following a strong harvest season. The company’s quarterly profit rose to $3.15 per share, from $2.74 per share, a year earlier.
The West Coast rail giant has reportedly been in early-stage talks with its East Coast peer, Norfolk Southern, to explore a cross-continental railroad merger, possibly creating a single-line network stretching from coast to coast.
(Reporting by Anshuman Tripathy in Bengaluru; Editing by Sriraj Kalluvila)
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