Union Pacific Corp. posted a 32% rise in third-quarter net income as surging revenue from energy and agriculture products more than compensated for a 5% volume drop.
The biggest U.S. freight railroad operator by revenue reported net income of $703 million, or $1.38 a share, up from $532 million, or $1 a share, a year ago. Union Pacific said per-share earnings would have been eight cents higher were it not for the impact of the Gulf Coast hurricanes.

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