Freight Cars

“The Union Pacific team concluded its most profitable year ever in 2021,” UP Chairman, President and CEO Lance Fritz said during a Jan. 20 earnings announcement. “We produced double-digit fourth-quarter revenue growth by leveraging our great rail franchise to generate positive business mix and core pricing gains, despite ongoing global supply chain challenges that impacted volumes.”

UP’s Fritz: 2021 ‘Most Profitable Year Ever’ (UPDATED)

Union Pacific (UP) on Jan. 20 reported fourth-quarter 2021 results, including operating revenue of $5.733 billion, up 12% from the same period in 2020 and 10% from 2019. This was driven by “higher fuel surcharge revenue, a positive business mix, and core pricing gains,” which were partially offset by a 4% decrease in business volumes, as measured by total revenue carloads. The Class I railroad also posted results for full-year 2021, which Chairman, President and CEO Lance Fritz called the “most profitable year ever.”

DOT-113C120W9 LNG tank car. Chart Industries photo

LNG by Rail: Temporary Reg Rollback Under Review

The Pipeline and Hazardous Materials Safety Administration’s (PHMSA) proposed temporary suspension of its regulations authorizing the transportation of liquefied natural gas by rail have prompted not only the Railway Supply Institute to weigh in, but also the Republican members of the House Transportation and Infrastructure Committee and a coalition of attorneys general from 14 states and Washington, D.C.; all submitted comments on the agency’s Notice of Proposed Rulemaking released late last year.

Now On Line: January Railway Age Digital Edition

Railway Age’s January 2022 issue is now available digitally. It features a cover profile of Canadian Pacific President and CEO Keith Creel and Kansas City Southern President and CEO Patrick J. Ottensmeyer—the recipients of Railway Age’s 2022 Railroader of the Year Award, the 59th annual.