BNSF’s 1st quarter net income up 28%
Burlington Northern Santa Fe Corp., parent company of the second-largest U.S. railroad BNSF Railway Co., Tuesday reported a 28 percent rise in first quarter net income to $410 million, compared to $321 million in the same quarter 2005.
Operating income rose 25 percent to $792 million, from $634 million. BNSF’s operating revenue increased 16 percent to a first quarter record $3.46 billion, from $2.98 billion in the same period last year.
Freight revenue also increased 16 percent to $3.34 billion from $2.89 billion with double-digit increases in all four of BNSF’s business groups. Total consumer products (including intermodal and automotive) revenue was up 17 percent to $1.32 billion; industrial products revenue increased 19 percent to $772 million; coal revenue improved 14 percent to $680 million; while agriculture products revenue was up 14 percent to $597 million.
The company’s first quarter operating expenses increased 14 percent to $2.67 billion, not helped by a 43 percent hike in fuel costs to $561 million.
BNSF’s share price on the New York Stock Exchange closed Tuesday at $81.49, up 0.6 percent over the previous day’s closing price.
