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BNSF quarterly profit up 2pc to US$1.95 million as revenues rise 3pc
来源：shippingazette.com 编辑：编辑部 发布：2017/11/10 09:05:27
THE Burlington Northern Santa Fe (BNSF) railway's third quarter net profit increased two per cent year on year to US$1.95 billion, drawn on revenues of $5.3 billion up three per cent.
Operating profit for western United States railway during the third quarter was $2 billion, a four per cent increase of $73 million.
Unit volumes rose three per cent year on year for the quarter and six per cent for the first nine months.
BNSF also pointed to higher average revenue per car/unit in the first nine months of 2017 as a driver in the earnings growth.
The increase in average revenue per car/unit in the first three quarters, according to BNSF, was primarily due to higher fuel surcharges and increased rates per car/unit.
Also there were rises in consumer product volumes of seven per cent in the third quarter and six per cent in first nine months due to higher domestic intermodal, international intermodal and automotive volumes.
The increases, BNSF said, were primarily due to improving economic conditions, normalising retail inventories, new services and higher market share.
There were also increases in industrial product volumes of two per cent for both the third quarter and the first nine months due to more sand shipments and other commodities that support drilling.
But agricultural produce was down 12 per cent for the third quarter, but up one per cent for the first nine months of 2017.
While grain was down due to fewer exports, coal was up two per cent in the quarter and up 12 per cent for the first nine months.
BNSF cited the continued effects of higher natural gas prices, which led to increased utility coal usage, as the primary driver for the increase in coal shipments.
Operating profit for western United States railway during the third quarter was $2 billion, a four per cent increase of $73 million.
Unit volumes rose three per cent year on year for the quarter and six per cent for the first nine months.
BNSF also pointed to higher average revenue per car/unit in the first nine months of 2017 as a driver in the earnings growth.
The increase in average revenue per car/unit in the first three quarters, according to BNSF, was primarily due to higher fuel surcharges and increased rates per car/unit.
Also there were rises in consumer product volumes of seven per cent in the third quarter and six per cent in first nine months due to higher domestic intermodal, international intermodal and automotive volumes.
The increases, BNSF said, were primarily due to improving economic conditions, normalising retail inventories, new services and higher market share.
There were also increases in industrial product volumes of two per cent for both the third quarter and the first nine months due to more sand shipments and other commodities that support drilling.
But agricultural produce was down 12 per cent for the third quarter, but up one per cent for the first nine months of 2017.
While grain was down due to fewer exports, coal was up two per cent in the quarter and up 12 per cent for the first nine months.
BNSF cited the continued effects of higher natural gas prices, which led to increased utility coal usage, as the primary driver for the increase in coal shipments.