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UP awards $5.3 million in community grants

Rail News Home Union Pacific Railroad 10/22/2019 Rail News: Union Pacific Railroad
image Union Pacific's Community Ties Giving Program has awarded more than $5.3 million in local grants to nearly 600 nonprofit organizations in 23 states, the Class I announced yesterday.The grants provide funding in UP's priority cause areas: safety, workforce development and community spaces, while a smaller portion is allocated to assist communities with local needs across the railroad's system."By investing in high-quality nonprofits and programs in these cause areas, where our employees live and work, we achieve a step toward our mission of service while helping communities grow and prosper," said UP Foundation President Scott Moore in a press release.Local grants provide funding ranging from $2,500 to $25,000 to local organizations. Recipients are selected through a competitive application process. The next local grant application period will run April through May 2020.

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Slower freight-rail volume hit UP's bottom line in Q3

Rail News Home Union Pacific Railroad 10/17/2019 Rail News: Union Pacific Railroad
image Union Pacific Railroad's third-quarter 2019 earnings were weaker than expected by Wall Street analysts, as freight-rail volumes continued to decline in a slower economy.The Class I reported today that net income for the quarter was $1.6 billion, or $2.22 diluted earnings per share (EPS), compared to $1.6 billion, or $2.15 per diluted share, in the same period a year ago, UP officials said today in a press release.The railroad's EPS for the quarter missed Wall Street's consensus estimate of $2.33, according to Benjamin Hartford, senior research analyst at Robert W. Baird & Co. Inc. Baird's Q3 estimate for UP was $2.29.UP posted an operating ratio of 59.5 percent for the quarter, a 2.2 point-improvement over the same period last year and a quarterly record for the Class I. Operating income fell 2 percent to $2.2 billion and operating revenue dropped 7 percent to $5.5 billion compared to Q3 2018's numbers."Given the challenging volume environment we delivered solid third-quarter financial results, including an all-time best quarterly operating ratio of 59.5 percent," said UP Chairman, President and Chief Executive Officer Lance Fritz. "The work our employees are doing as part of Unified Plan 2020 is foundational to the company's success and I am confident there are additional improvement opportunities going forward for our customers and shareholders."UP's Q3 freight revenue declined 7 percent, as core pricing gains were offset by lower volumes, decreased fuel surcharge revenue and negative mix. Specifically, agricultural products revenue declined 1 percent; industrial was down 1 percent; premium, down 9 percent; and energy, down 20 percent.For the rest of 2019, UP will continue to build on the successes of its operating plan, Unified Plan 2020, Fritz said."We remain squarely focused on driving long-term shareholder value by appropriately investing in the railroad and returning excess cash to our shareholders," he said.

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UP shuffles roles in marketing and sales, Loup Logistics

Rail News Home Union Pacific Railroad 9/30/2019 Rail News: Union Pacific Railroad
image Union Pacific Railroad last week announced four appointments affecting marketing and sales.Effective immediately, Jacque Bendon has been named vice president of industrial products; Kari Kirchhoefer, VP of Loup Logistics; Seana Fairchild, assistant VP of industrial products; and Elise Gosch, general director of strategic planning and communications, UP officials said in a press release.Bendon, previously AVP of industrial products, marketing and sales, succeeds Kirchhoefer. Bendon has worked for UP in various roles for 21 years, having begun her career in corporate audit. She's held leadership positions in the industrial products, chemicals and UP distribution services departments.Kirchhoefer, previously vice president of industrial products, marketing and sales, succeeds Shawntell Kroese as VP of Loup Logistics. Kirchhoefer has served UP for more than 26 years and held leadership positions in the chemicals, streamline, automotive and agriculture products departments, and in the market development and sales center.Succeeding Bendon is Fairchild, who previously was general director of strategic planning and communications, marketing and sales. Fairchild joined UP 15 years ago, and has held roles in the commercial strategy, customer experience, intermodal, chemicals and tax departments.Previously senior director of commercial strategy and pricing, Gosch succeeds Fairchild. Gosch has been with UP for more than 15 years and held roles in the distribution services, agriculture products, industrial products, intermodal departments, and in the market development and sales center.

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UP CFO Knight to retire; Hamann named successor

Rail News Home Union Pacific Railroad 9/27/2019 Rail News: Union Pacific Railroad
image UP CFO Rob Knight will retire Dec. 31.Photo – up.com

Union Pacific Chief Financial Officer Rob Knight will retire on Dec. 31, the Class I announced yesterday. Jennifer Hamann will succeed him effective Jan. 1, 2020.

Knight joined UP in 1980 and held numerous leadership positions prior to being named CFO in 2004. During his tenure as CFO, he led many initiatives that helped the company earn the highest market capitalization of any North American transportation company, UP officials said in a press release.

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UP recognized as 'military friendly' employer

Rail News Home Union Pacific Railroad 8/28/2019 Rail News: Union Pacific Railroad
image Union Pacific Railroad was recognized once again as a "Military Friendly Employer" by Victory Media, the publisher of G.I. Jobs.This year's designation was the fifth consecutive time the magazine recognized UP among employers that "create sustainable and meaningful benefit for the military community after they transition into civilian life," UP officials said in a press release.More than 17 percent of UP employees have military experience, with some still active in the National Guard or Reserves. In the last five years, 24 percent of new hires were veterans.UP's veteran employee resource group dubbed UP VETS helps to attract, develop and retain veterans at the railroad.

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Metra cancels Union Pacific West schedule changes

Rail News Home Union Pacific Railroad 8/27/2019 Rail News: Union Pacific Railroad
image Union Pacific determined that Metra’s proposed changes on UP West could result in conflicts between commuter and freight trains.Photo – Metra

Chicago commuter railroad Metra and Union Pacific Railroad have agreed to cancel a previously announced schedule change on the UP West line, which would have adjusted departure times of some trains on the line by Sept. 3. 

UP determined that the proposed changes on UP West could result in conflicts between commuter and freight trains along the busy rail corridor, Metra officials said in a press release.

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Union Pacific reports PTC progress

Rail News Home Union Pacific Railroad 7/24/2019 Rail News: Union Pacific Railroad
image Union Pacific Railroad has implemented positive train control on 1,081 route miles in the second quarter.Photo – UP

Union Pacific Railroad yesterday announced that it has implemented positive train control (PTC) on 1,081 route miles in the second quarter, bringing its PTC-operated route miles to 14,678, or 86 percent. 

UP now is running PTC operations in 22 states, and is working with freight and passenger railroads to implement PTC on its remaining 2,384 route miles by 2020, UP officials said in a press release. 

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UP posts higher profit, lower expenses in Q2

Union Pacific Railroad reported today that 2019 second-quarter net income rose 4 percent to $1.6 billion, or $2.22 per diluted share, compared with $1.5 billion, or $1.98 per diluted share, in the same quarter a year ago.

UP's operating income rose 8 percent to $2.3 billion and the company's operating ratio (OR) improved to 59.6 percent from 63.0 percent compared with second-quarter 2018.

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UP recognizes 46 companies for safe hazmat practices

Rail News Home Union Pacific Railroad 6/21/2019 Rail News: Union Pacific Railroad
image Union Pacific Railroad has recognized 46 companies with the Class I's Pinnacle Award for safely transporting chemical products by rail.The annual award honors UP customers that implement release prevention protocols, corrective action plans and have zero non-accident releases (NARs) of regulated hazardous materials shipments.UP's hazardous materials safety team supports its customers with joint rail safety training programs and rail-car inspections, UP officials said in a press release."Union Pacific is committed to delivering chemical shipments in the safest manner and applauds this year's Pinnacle Award recipients for their initiatives and measures eliminating rail car chemical releases,” said Kenny Rocker, executive vice president, marketing and sales.To read a list of this year's winners, click on this link.

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UP's 2018 'Building America' report addresses cybersecurity

Union Pacific Railroad's latest annual report on sustainability includes for the first time cybersecurity efforts taken to protect the Class I's infrastructure and assets.

UP yesterday released its 2018 "Building America Report," the company's 10th annual sustainability report detailing progress toward its social, economic and environmental initiatives. The report highlights corporate strategy changes and impact on UP's customers, investors, employees and communities.

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Oregon Sens. Wyden, Merkley express concerns over UP layoffs

Oregon's two U.S. senators are raising concerns with Union Pacific Railroad's reported plan to eliminate nearly 200 jobs from the Class I's Hinkle Rail Yard in Hermiston.

In a letter sent this week to UP Chairman, President and Chief Executive Officer Lance Fritz, the senators wrote that the railroad's decision to reduce jobs at the yard and close the Hinkle supply warehouse and mechanical locomotive shop "will devastate this rural community by hamstringing the economic opportunities and stability of the entire region."

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UP marks transcontinental railroad's 150th anniversary

Rail News Home Union Pacific Railroad 5/13/2019 Rail News: Union Pacific Railroad
image Tapping a ceremonial Golden Spike from left are Dodge, Gov. Herbert, Fritz, U.S. Rep. Rob Bishop (R-Utah), Yee and Scott Moore.Photo – up.com

Union Pacific Railroad executives joined other public and private-sector officials in ceremonies last week marking the 150th anniversary of the driving of the Golden Spike in Promontory Summit, Utah, which signaled the completion of the transcontinental railroad.

On May 9, a ceremony held at Ogden Union Station in Ogden, Utah, featured UP's steam locomotives Living Legend No. 844 and Big Boy No. 4014. The two met, recreating the historic image taken at Promontory Summit on May 10, according to a UP press release.

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UP plans $20 million project for New Mexico block swap yard

Rail News Home Union Pacific Railroad 5/6/2019 Rail News: Union Pacific Railroad
image The additional block swap yard at the Santa Teresa intermodal terminal (shown) will allow the Class I to add container blocks to passing trains faster and more efficiently.Photo – up.com

Union Pacific Railroad is investing $20 million to build an additional block swap yard at its Santa Teresa intermodal terminal and refueling station in New Mexico.

The additional block swap yard will allow the Class I to add container blocks to passing trains faster and more efficiently, according to a press release issued by the New Mexico Economic Development Department.

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UP to close Rochelle intermodal ramp as part of Chicago-area simplification plan

After an end-to-end analysis of the intermodal network through the Unified Plan 2020 initiative, Union Pacific Railroad identified three key changes it plans to implement in the months ahead, Executive Vice President of Marketing and Sales Kenny Rocker wrote in a customer announcement issued yesterday.

The first calls for simplifying the Class I's intermodal complex in Chicago, where the railroad operates six intermodal facilities: five active ramps and an equipment depot.

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Union Pacific 'pauses' Brazos Yard construction

Union Pacific Railroad is "pausing" construction of its new $550 million Brazos Yard in Robertson County, Texas.

The Class I will shift remaining funds planned for the Brazos construction in 2019 to siding extensions on UP's Sunset route — which runs between Los Angeles and El Paso, Texas — and a block-swap yard in Santa Teresa, New Mexico, a move that will add to UP's network flexibility, Chief Operating Officer Jim Vena told analysts during a first-quarter 2019 earnings conference call last week.

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UP touts Q1 results, operating performance

Union Pacific Corp. today announced a 6 percent increase in net income during the first-quarter, despite dealing with severe flooding and a 2 percent decline in business volumes.

The Class I posted Q1 2019 net income of $1.4 billion, or $1.93 per diluted share, compared with $1.3 billion, or $1.68 per diluted share, in the same period a year ago, according to a UP press release.

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Union Pacific to mark transcontinental railroad anniversary

Union Pacific Railroad will host a celebration May 9 in Ogden, Utah, to mark the 150th anniversary of the transcontinental railroad's completion.

The ceremony will be held at Ogden Union Station, a day ahead of Utah's celebration at Promontory Summit where the "golden spike" was originally tapped into place, according to a UP press release.

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UP set income record, advanced Unified Plan in Q4

By Jeff Stagl, Managing Editor

Union Pacific Corp. today reported record fourth-quarter net income of $1.6 billion and diluted earnings per share of $2.12, up 29 percent and 39 percent, respectively, compared with adjusted results for fourth-quarter 2017.

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Union Pacific to participate in Bush funeral procession

Union Pacific Railroad will be part of this week's funeral procession for President George H.W. Bush, who died Nov. 30 at the age of 94.

Following funeral and memorial services in Washington, D.C., and Houston, Bush will be transported by the funeral train from Spring to College Station, Texas, on Thursday.

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UP's Bolin to succeed Rock as VP-external relations

Union Pacific Corp. has named Printz Bolin vice president-external relations, effective Dec. 1. He will succeed Mike Rock, who will retire Feb. 15, 2019, after 29 years of service at the Class I.

Currently assistant VP-external relations, Bolin will continue to work out of UP's office in Washington, D.C., when he starts his new role, UP officials said in a press release.

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