(Source: Trains.com, August 4, 2024)
BNSF Railway boosted operating profits in the second quarter thanks to a combination of cost control and traffic volume gains. The railway on Saturday, Aug. 3, said its operating income increased 1%, to $1.8 billion, as revenue declined 2%, to $5.7 billion. The operating ratio, at 68.2%, was flat compared to a year ago, as operating expenses declined by 3%. But the quarterly earnings were negatively affected by cost accruals related to a $394 million federal court judgment against the railroad. The judgment was issued in June related to the operation of oil trains through land owned by the Swinomish Tribe of Washington State. BNSF has appealed the decision.
Full story: Trains.com