Union Pacific profit up as railroad delivery delays reduced

By JOSH FUNK
AP Business Writer

OMAHA, Neb. (AP) — Union Pacific’s second-quarter profit improved a bit, but the railroad’s expenses jumped as it tried to reduce the delivery delays that have left its customers waiting for trains at times. The railroad said Thursday that its profit grew 2% to $1.84 billion, or $2.93 per share. The results beat Wall Street expectations even though Union Pacific’s performance disappointed customers. UP CEO Lance Fritz said the railroad’s performance improved somewhat through the quarter after it imposed limits on the number of cars customers can ship, and he expects that improvement to continue as the railroad hires more workers to handle the demand.