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BNSF reports record quarterly revenue (7/27/2005)
BNSF has reported a 15% increase in freight revenue for the second quarter of 2005, at a record $3.04 billion, reflecting revenue increases in all four of the company’s business groups.
Record quarterly operating income at $710 million was up 40% year-on-year, while the quarterly operating ratio decreased four percentage points to 76.7% from 80.7% in the second quarter of the prior year.
Consumer Products revenues increased by $201 million (19%), partially as a result of double-digit volume increases in the international, truckload, automotive, and perishable sectors. Industrial Products revenues increased by $98 million (16%) to $718 million, reflecting strong demand in the building products, petroleum products, and construction products sectors.
Agricultural Products revenues were up $69 million (16%) to $493 million, which included strong corn, soybean and wheat export moves to the Pacific Rim countries. Coal revenues rose $38 million (7%) to $591 million, despite operational and maintenance disruptions caused by adverse weather conditions in the Powder River Basin.
“The second quarter of 2005 was our thirteenth consecutive quarter of year-over-year volume increases and the company’s sixth consecutive quarter of double-digit freight revenue growth,” said chairman, president & CEO, Matthew Rose. “Also, we were able to continue lowering our operating ratio, compared to the same prior-year period, a trend we have been able to maintain for seven consecutive quarters.”
For the second quarter of 2005, BNSF reported a pre-tax income of $590 million and a net income of $366 million on total operating revenues of $3.14 billion (Q2 2004: $402m, 249m and $2.68bn respectively).
For the six-month period ending June 30, 2005, BNSF reported a pre-tax income of $1.11 billion on total operating revenues of $6.12 billion (H1 2004: $713m and $5.17bn respectively).
Author: Newsdesk / eyefortransport.com
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