Union Pacific profit up 1% as the railroad delivers more fertilizer, imported goods and vehicles

Union Pacific's fourth-quarter profit crept up 1% as the railroad delivered more fertilizer, imported goods and vehicles. The Omaha, Nebraska-based railroad said it earned $1.65 billion, or $2.71 per share, in the quarter to top Wall Street estimates for earnings of $2.60 per share. Union Pacific said it hauled 3% more shipments and improved many of its key operating metrics. The railroad's average freight car velocity jumped 14% to 217 daily miles per car as its average maximum train length grew to 9,413 feet. CEO Jim Vena said Union Pacific has strong momentum, but still plenty of room to improve. The railroad predicted muted volume growth this year.