Union Pacific Achieves Industry-Leading Results with Focus on Safety, Service, and Operational Excellence

Reuters
24 Jul
Union Pacific Achieves Industry-Leading Results with Focus on Safety, Service, and Operational Excellence

Union Pacific Corporation has announced impressive results, driven by its Safety, Service, and Operational Excellence (SSOE) strategy. The company reported significant improvements in safety, with a positive trend in personal injury and derailment rates over the past three years. Union Pacific's service performance has also been outstanding, with a Freight Car Velocity increase of 10% to 221 miles per day, alongside reduced terminal dwell and increased train speed. Intermodal Service Performance reached 99%, and Manifest was at 97%, demonstrating year-over-year gains. In terms of operational excellence, Union Pacific successfully handled unexpected increases in international intermodal volume and a 30% surge in coal volume. The company leveraged new technology to enhance terminal processes, improve cycle times, and adjust transportation plans, which contributed to faster freight movement and business development successes. Union Pacific's strong service performance has allowed it to invest in growth, exemplified by the recent opening of the Kansas City Intermodal Terminal, the fourth new intermodal terminal in recent years, aimed at serving the expanding Midwestern markets. CEO Jim Vena attributes these successes to the company's culture and mindset, highlighting the collaborative efforts of the team and encouraging continued engagement through unscripted town halls to further strengthen operations.

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