Adds background throughout
July 24 (Reuters) - Union Pacific UNP.N reported a rise in its second-quarter profit on Thursday, powered by robust demand for bulk and industrial shipments through multiple modes of transportation.
The company's bulk shipments, which consists of grain products, fertilizer, coal and renewables, accounted for 32% of total freight revenues in 2024.
Union Pacific, seen as a bellwether for the U.S. economy, has, however, benefited from strong volumes in its grain and grain products segments following a strong harvest season.
The company's quarterly profit rose to $3.15 per share, from $2.74 per share, a year earlier.
The West Coast rail giant has reportedly been in early-stage talks with its East Coast peer, Norfolk Southern NSC.N, to explore a cross-continental railroad merger, possibly creating a single-line network stretching from coast to coast.
(Reporting by Anshuman Tripathy in Bengaluru; Editing by Sriraj Kalluvila)
((Anshuman.Tripathy@thomsonreuters.com;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.