Higher volumes, rates pull BNSF forward
BNSF Railway had first quarter net profit of $607 million, 20 percent more than the $506 million recorded in the same 2010 period, according to a summary of its results provided by parent company Berkshire Hathaway last week.
Berkshire provided a quarter-to-quarter comparison even though it did not acquire full ownership of BNSF until Feb. 12, 2010.
Revenue jumped 17 percent to $4.5 billion in the first quarter of 2011 from $3.9 billion in the first quarter of 2010.
The railroad had higher average revenues per car/unit in all four business groups as well as an 8 percent increase in cars/units handled. It said average revenues per car/unit in 2011 included a 38 percent increase in fuel surcharges.
Consumer products revenue at the railroad increased due primarily to higher unit volumes within international and domestic intermodal and automotive. Coal revenues increased over 2010 primarily due to improved average revenues per car/unit. Industrial products revenues increased primarily as a result of increased unit volumes, particularly from higher shipments of construction products. Agricultural products revenues in 2011 increased over 2010, reflecting increased wheat shipments.
