UNP Union Pacific Corp

By Matt Grossman

Union Pacific Corp. said Thursday that it took steps toward reducing its fuel consumption in the second quarter, adding that higher fuel prices hit its bottom line.

On fuel:

"Beyond our strong financial performance, we also made progress on our goal to reduce our carbon footprint, which includes a 3% improvement in our fuel consumption rate," the railroad and freight transportation company said.

"Union Pacific's 55.1% operating ratio improved 590 basis points. Higher fuel prices negatively impacted the operating ratio by 210 basis points" in the three months ended June 30.

The average fuel price per gallon consumed rose to $2.16, from $1.26 a year earlier, a 71% increase, the company said.

"Fuel consumption rate, measured in gallons of fuel per thousand gross ton-miles, improved 3%."

Write to Matt Grossman at matt.grossman@wsj.com

(END) Dow Jones Newswires

July 22, 2021 08:45 ET (12:45 GMT)

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