Union Pacific Corp, the No. 1 U.S. publicly held railroad, reported quarterly results that beat forecasts on Thursday, driven by pricing gains, fuel surcharges and double-digit freight revenue increases in four of its six business groups.

The company also reiterated its call for record results for the full year.

Total volume rose 1 percent compared with the fist quarter a year ago, as growth in auto, industrial product, chemical and intermodal shipments offset weaker coal volume.

The Omaha, Nebraska-based company said net income rose to $863 million, or $1.79 per share, in the first quarter from $639 million, or $1.29 a share, a year ago. That topped the average Wall Street forecast by 16 cents a share, according to Thomson Reuters I/B/E/S.

Quarterly operating revenue rose 14 percent to a record $5.1 billion, above analyst forecasts of $4.97 billion, according to Thomson Reuters I/B/E/S.

"Although softer coal demand remains a challenge, the benefits of our diverse franchise should support continued opportunities in other markets, driving record financial results for the year," Jack Koraleski, Union Pacific Chief Executive Officer, said in a statement.

Coal demand fell in the quarter due to mild winter weather and decade-low natural gas prices. (Reuters)