HUTCHINSON, Kan. — BNSF Railway continued to weather the storm of high fuel prices and congested west coast ports to post positive earnings for the first quarter.
The nation's second largest railroad reported total revenue of $5.9 billion, an increase of 10% over the past year. The increase was driven by higher fuel surcharges due to higher fuel prices and increased shipping rates.
While revenue increased, total carloads decreased by 3% including a 12% drop in ag and consumer related products. Higher fuel proxies drove coal shipments higher which increased by 14%. Those higher fuel prices also punished the railroad with fuel costs increasing 57% year over year to $861 million for the first quarter.
BNSF operates about 15 trains per day through Hutchinson including Amtrak and was the second highest property tax payer in the county at more than $1.5 million in 2021. Its total valuation to the county is $10.1 million.
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