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10/22/2002



Rail News: BNSF Railway

BNSF's quarterly operating income falls, ratio rises


Burlington Northern Santa Fe didn't have much to celebrate Oct. 22, when the Class I released its third-quarter and year-to-date financial data.


Quarterly operating income totaled $421 million compared with an adjusted operating income of $470 million in third-quarter 2001; operating expenses of $1.89 billion increased 2 percent compared with $1.84 billion last year; and freight revenue of $2.28 billion dropped slightly compared with third-quarter 2001's $2.31 billion.


The railroad's quarterly operating ratio also worsened, rising to 81.6 compared with 78.3 during a similar 2001 period.


"BNSF is maintaining its focus on customer service and cost control in this current difficult revenue environment," said BNSF Chairman, President and Chief Executive Officer Matthew Rose in a prepared statement.


That difficult environment has negatively affected the railroad's ledger during the year's first three quarters, as well. BNSF's operating income totaled $1.19 billion compared with $1.34 billion; operating revenue totaled $6.67 billion compared with $6.90 billion; and the railroad's operating ratio of 81.9 worsened compared with 80.2 during 2001's first nine months.


However, the Class I's total operating expenses between January and September dropped to $5.48 billion compared with $5.55 billion last year, and net income rose to $558 million compared with $554 million.


Contact Progressive Railroading editorial staff.

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