Aug 16, 2022

BNSF fights off higher expenses to post solid numbers

Posted Aug 16, 2022 9:09 PM

HUTCHINSON, Kan. — Despite lower freight volume, BNSF’s second-quarter net profit rose 10% year over year amid higher freight revenue and despite lower car loads.

Second quarter net income for the nation's second-largest railroad totaled $1.66 billion, compared with nearly $1.52 billion for the second quarter of 2021. Overall, revenue rose 14% to $6.64 billion, with freight revenue increasing by 15% to nearly $6.3 billion. 

The railroad saw a 7% fall in car loads, but revenue jumped 22% with higher shipping costs that also offset higher fuel prices. Operating expenses totaled $4.2 billion including a mind-numbing $1.23 billion for fuel. In the fourth quarter of 2020, the total for fuel was $454 million.

BNSF operates between six and 10 trains daily through Reno County and carries a total assessed valuation of $10.1 million. The company paid out more than $1.57 million in property taxes in 2021.

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