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BNSF Railway Co.'s third-quarter net income declined 12 percent to $1.02 billion and total revenue fell 8 percent to $5.2 billion compared with third-quarter 2015 results.Declining coal volumes, as well as weaker shipments of energy-related commodities and certain other industrial products categories were factors in BNSF's results, according to the Class I's website.BNSF's third-quarter operating income declined 10 percent to $1.9 billion, while operating expenses fell 6 percent to $3.3 billion. The railroad posted an operating ratio of 62.7 percent for Q3 2016, compared with an operating ratio of 61.8 percent in Q3 2015.Coal volumes tumbled 13 percent during the quarter compared with the same period a year ago due to lower demand driven by low natural gas prices, coal unit retirements and elevated utility coal inventories.Industrial products slipped 8 percent compared with the third-quarter 2015, due to lower petroleum products — a reflection of lower crude-oil-rail traffic and lower U.S. crude-oil production.Consumer products volumes fell 4 percent in the quarter compared with last year, due to lower international intermodal volume, which was affected by soft economic activity, inflated retail inventories and a share shift away from West Coast ports. The results also were offset by higher automotive volumes due to the addition of a new automotive customer and increased domestic intermodal volume.Agricultural products were a bright spot for BNSF during the quarter. The Class I logged a 13 percent increase due to higher corn, soybean and wheat exports.
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