Union Pacific profit grows 7% as the railroad continues to get more efficient under CEO Jim Vena WSB-TV Channel 2 [Video]

OMAHA, Neb. — (AP) — Union Pacific delivered 7% growth in its second-quarter profit even though the number of shipments it hauled remained essentially flat because it was able to continue streamlining its operations.

The Omaha, Nebraska, railroad said Thursday that it earned $1.67 billion, or $2.74 per share, in the quarter. That’s up from last year’s $1.57 billion, or $2.57 per share, before CEO Jim Vena took over after a hedge fund pressured Union Pacific to improve its profitability.

“This provides further proof that our strategy to be the best in safety, service, and operational excellence will drive success,” Vena said. “The entire Union Pacific team is energized behind this strategy and wants to win.”

The results topped the prediction for earnings of $2.72 per share from the analysts surveyed by FactSet Research.

Vena said in a letter to employees reflecting on his first year on the jobthat he’s proud of the way employees have responded …