HUTCHINSON, Kan. — The ability to keep costs down offset lower revenue for BNSF as they released their fourth quarter earnings report this week.
The nation's second largest railroad reported total revenue of $5.6 billion a drop of 3%. Despite that net income increased by 5% to $ 41.4 billion. The pandemic and further declines in coal shipments continued to pressure the railroad. Coal shipments for the quarter dropped 21%. Most of that was offset by strong gains in ag and consumer products carloads. Total car volume for the quarter increased by 3% but still saw a 7% drop for the year, mostly due to the pandemic.
Despite all of the challenges, the railroad was able to trim operating expenses by 6% and by 15% for the year. BNSF also announced that they plan to spend nearly $3 billion track and equipment improvements this year including a large project in central Kansas that will help ease train congestion through Harvey County. That work is expected to take about three more years to complete.
BNSF operates about ten trains per day through Reno County along with Amtrak. It has the second highest valuation in the county of more than $11 million.
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