Union Pacific Railroad Company reported a 13% year-over-year increase in the volume of its metals and minerals transportation in 2022 over 2021, reaching 785,000 carloads.
At a year-on-year rate, the same transportation totaled US$2,196 million, a 21% growth, likewise year-on-year.
In 2021, the increases in these two indicators were 13% in volume and 15% in value, at annual rates.
Results of Union Pacific
The company connects by rail 23 states in the western two-thirds of the United States, providing a critical link in the global supply chain.
The company’s diversified range of business includes bulk, industrial and high-end transportation.
Union Pacific serves many of the fastest-growing population centers in the United States, operates from major West Coast and Gulf Coast ports to eastern gateways, connects with rail systems in Canada, and is the only railroad serving all six major gateways in Mexico.
In addition, Union Pacific provides value to its approximately 10,000 customers by delivering products in a safe, reliable, fuel-efficient and environmentally responsible manner.
Union Pacific
The company’s industrial segment consists of several categories, including construction, industrial chemicals, plastics, forestry products, specialty products (primarily waste, salt, and roofing), metals and minerals, petroleum, liquefied petroleum gas (LPG), soda ash, and sand.
However, the transportation of these products accounted for 35% of its freight revenues in 2022.
While commercial, residential and government infrastructure investments drive shipments of steel, aggregates, cement and wood products, industrial and light manufacturing plants receive steel, non-ferrous materials, minerals and other raw materials.
Capital plan
In 2023, the company expects its capital plan to be approximately $3.6 billion, 6% higher than in 2022, as it makes investments to support its growth strategy.
Union Pacific continues to strengthen its infrastructure, replacing aging assets and improving network security and resiliency.
In addition, the plan includes investments in growth-related projects to drive more railcarloads onto the network, certain ramp-ups to efficiently handle new and existing intermodal customer volumes, continued modernization of our locomotive fleet and projects aimed at improving operational efficiencies.
