Union Pacific reported higher profits in the third quarter despite flat volume, with operating income increasing by 6% to $2.5 billion, revenue growing by 3% to $6.2 billion, and earnings per share increasing by 9% to $3.01. The quarterly operating ratio improved to 59.2%, with key operational metrics showing improvement.

The company set best-ever records in workforce productivity, fuel consumption, terminal dwell, and train length. Bulk carloads increased by 7%, industrial products volume rose by 3%, and premium volume declined by 5%. Employment levels dropped by 4% compared to a year ago, to 28,871.

UP executives highlighted operational excellence amid the highest volume quarter of the year, with a focus on safety, service, and efficiency. The company is on track to become the safest Class I railroad in the U.S., with improved personal injury and train accident rates. Norfolk Southern is expected to report earnings after markets close, and the merger application with the Surface Transportation Board is due after Oct. 29.

Read more at Yahoo Finance: Union Pacific profits rise on operational efficiency, pricing gains