(Source: Freight Waves, February 24, 2020)
CHATTANOOGA, Tenn. — A reduction in operating expenses helped Western U.S. railroad BNSF achieve a 4% increase in fourth-quarter net profit and a 5% increase in annual net profit despite lower revenues on both a quarterly and annual basis. Fourth-quarter net income totaled $1.42 billion, compared with $1.37 billion for the fourth quarter of 2019, BNSF said Monday. On an annual basis, BNSF reported a net profit of $5.48 billion in 2019, a 5% increase from $5.22 billion in 2018 as lower operating expenses offset a 1.4% decline in revenues.
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