By ROD ZOOK
Hutch Post
HUTCHINSON, Kan. — Despite challenges from declining car loads and supply chain issues, BNSF reported a strong 4th Quarter and yearly earnings on Monday.
The nation's second largest railroad reported 4Q and full year operating income of $2.4 billion and $8.8 billion, respectively, an increase of $253 million (12%) and an increase of $1.1 billion (14%), respectively, compared to the same periods in 2020.
Total revenues for the fourth quarter and full year 2021 increased 11% and 12%, respectively, compared with the same periods in 2020.
The railroad saw mixed results in car loads with consumer products falling 9% and car loads of ag products falling 2%. Industrial products did increase by 6% and car loads for coal jumped by 9%. For the quarter, total car loads fell by 3%, but increased by 7% for the year as the railroad continued to recover from the pandemic.
The dramatic jump in fuel prices ate into the railroad bottom line as 4Q fuel expenses increased by 80% year-over-year to $818 million. For the year BNSF spent $2.7 billion for fuel compared with $1.7 billion in 2020.
BNSF carries the second highest assessed value in Reno County at $10.1 million and paid more than $1.5 million in county property taxes in 2020.
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