By Matt Grossman

Union Pacific Corp. recorded greater earnings year over year in the fourth quarter as revenue rose from most freight categories.

The Omaha, Neb.-based freight railroad's earnings were $2.66 a share, up from $2.05 a share a year earlier. Analysts were expecting earnings of $2.61 a share.

Net income climbed to $1.71 billion, from $1.38 billion.

Revenue was $5.73 billion, an increase from $5.14 billion in 2020's fourth quarter. Analysts surveyed by FactSet had forecast $5.6 billion in revenue.

Bulk-freight revenue rose 16% to $1.81 billion, driven by a 36% increase in coal and renewables revenue. Industrial revenue was up 14%, while premium revenue was up 1%. That included a 3% decline in revenue from automotive freight.

Average revenue per car was 15% higher.

Operating expenses rose 5% year over year to $3.29 billion, including an 80% rise in spending on fuel.

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

(END) Dow Jones Newswires

January 20, 2022 08:35 ET (13:35 GMT)

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