May 9, 2017 – TRA Newswire –
BNSF Railway is getting back on the right track. The railroad reported that pre-tax earnings grew 7% in the same quarter year over year. That was because of a 6.4% volume jump and an increase in revenue per car of 2.7%.
Shipments of commodities were up especially in areas where experts were predicting the coming end of coal. Shipments of the black gold rose 23.2% from the previous year period. First quarter 2017 coal volumes rose to 475,000 carloads with coal revenues of $960 million. It didn’t hurt that higher natural gas prices aided in the coal revival. Where energy prices go, BNSF’s revenue and profit normally follow. BNSF’s quarterly financial report was filed last Friday with the US Securities and Exchange Commission.
Overall revenue declined but was softened by a 7.7% quarter-over-quarter increase carload revenue to $2,021, making it the highest for the railroad since $2,023 in the 4th quarter of 2015.
BNSF is part of the Berkshire Hathaway group.