(Reuters) -Union Pacific Corp reported a 23.9% rise in quarterly profit on Thursday, as the company shipped more industrial chemicals, metals and forest products.

The Omaha, Nebraska-based rail operator benefited from rising shipments ahead of the holiday season as an increase in industrial activity resulted in more companies shipping out products to consumers.

Union Pacific’s fourth-quarter total operating revenue rose to $5.73 billion from $5.14 billion a year ago.

Shares of the company were up about 1% before the bell.

Net income for the U.S. railroad operator in the fourth quarter ended Dec. 31 rose to $1.71 billion, or $2.66 per share, from $1.38 billion, or $2.05 per share, a year ago.

(Reporting by Nathan Gomes in Bengaluru; Editing by Krishna Chandra Eluri)