Union Pacific stock jumps after record earnings that rose above expectations

Shares of Union Pacific Corp. UNP, +0.79% jumped 2.2% successful premarket trading Thursday, aft the railroad relation reported grounds results for the second-quarter, arsenic nett and gross roseate supra expectations successful the look of continued proviso concatenation disruptions, peculiarly successful the intermodal business. Net income grew to $1.80 billion, oregon $2.72 a share, from $1.13 billion, oregon $1.67 a share, successful the year-ago period. The FactSet statement for net per stock was $2.55. Revenue roseate 30% to $5.50 billion, beating the FactSet statement of $5.36 billion. Bulk gross roseate 19% to $1.65 billion, topping the FactSet statement of $1.63 billion, portion concern gross accrued 24% to $1.86 cardinal to bushed expectations of $1.82 billion. Total gross carloads increases 22% to 2.1 million. "The Union Pacific squad leveraged measurement growth, halfway pricing gains, and productivity to nutrient grounds quarterly results," said Chief Executive Lance Fritz. "As we determination into the 2nd fractional of 2021, we volition proceed moving with our customers and the broader proviso concatenation to summation fluidity and efficiently grip the beardown request for freight transportation." The banal has tacked connected 4.3% twelvemonth to date, portion the Dow Jones Transportation Average DJT, +0.97% has climbed 17.5% and the Dow Jones Industrial Average DJIA, +0.83% has gained 13.7%.