Union Pacific Corporation reported a solid financial performance for the fiscal year 2024, with earnings per diluted share reaching $11.09, marking a 6% increase from the previous year. The company generated total operating revenues of $22.8 billion, a 1% rise driven by a 3% increase in total volumes, particularly in international intermodal and agricultural products. However, this growth was partially offset by a 20% decline in coal volumes and lower fuel surcharge revenues, which fell to $2.6 billion from $3.0 billion in 2023 due to a 15% decrease in fuel prices. The operating ratio improved to 59.9%, reflecting a 240-basis point enhancement compared to 2023, indicating better operational efficiency.
In terms of strategic developments, Union Pacific invested approximately $3.4 billion in capital expenditures during 2024, focusing on infrastructure improvements and technology enhancements. The company emphasized its commitment to safety, achieving significant reductions in personal injury and derailment rates, with personal injury incidents down 23% and derailments down 20% year-over-year. Operational metrics also showed improvements, with freight car velocity increasing by 2% and service performance indices for intermodal and manifest products improving by 2 and 4 points, respectively.
Union Pacific's workforce as of December 31, 2024, comprised 32,439 employees, reflecting a 4% decrease from the previous year. The company reported a 6% improvement in workforce productivity, attributed to enhanced operational efficiency and effective resource management. The company also noted a surge in international intermodal shipments, which increased by over 19% compared to 2023, demonstrating its ability to adapt to changing market demands.
Looking ahead, Union Pacific's management expressed cautious optimism for 2025, anticipating slight growth in industrial production but acknowledging potential challenges from macroeconomic uncertainties, including fluctuating fuel prices and changes in international trade agreements. The company plans to maintain its focus on safety, service, and operational excellence while preparing for potential market fluctuations. The capital plan for 2025 is expected to remain consistent at approximately $3.4 billion, aimed at supporting growth and enhancing operational efficiency.
About UNION PACIFIC CORP
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