(Source: Progressive Railroading 8/6/2019)
BNSF Railway Co. reported second-quarter 2019 revenue rose 0.3 percent to $5.89 billion, while operating income jumped 7 percent to $2 billion compared with the same period last year, the Class I announced yesterday.
Revenue and operating income increases were attributed in part to higher revenue per car/unit.
The railroad posted the increases despite a 4 percent decrease in unit volume for the quarter due to severe winter weather and flooding conditions on parts of its network, according to a financial statement posted on BNSF’s website.
Operating expenses for the quarter fell 3 percent to $3.89 billion, while net income climbed 2 percent to $1.34 billion. BNSF posted a Q2 operating ratio of 64.8 percent, compared to 66.8 percent a year ago.
Also during Q2 compared with a year ago, BNSF reported consumer product volumes declined 6 percent; industrial product volumes were flat; agricultural product volumes fell 4 percent and coal volumes ticked up 1 percent.
BNSF is a subsidiary of Berkshire Hathaway Inc.