OMAHA, Neb. October 22, 2009 — Union Pacific Corp. says the economy stabilized during the third quarter but shipping demand remained weak, so profits fell 26 percent.
The nation's largest railroad couldn't offset lower shipping volumes despite benefiting from significantly lower fuel costs, improved productivity and other cost cutting.
The Omaha company said Thursday it earned $517 million, or $1.02 per share. Analyst had expected a profit of $1 per share.
Revenue rose 24 percent, to $3.67 billion.
