(The Associated Press circulated the following article on April 25.)
FORT WORTH, Texas — Railroad operator Burlington Northern Santa Fe Corp. on Tuesday posted a 28 percent rise in first-quarter profit, led by stronger revenue in all segments.
Earnings grew to $410 million, or $1.09 per share, from $321 million, or 83 cents per share, in the year earlier quarter.
Revenue rose to $3.46 billion from $2.98 billion in the year-ago period, on a 16 percent rise in freight revenue driven by growth in volumes, rates and surcharges.
In a Thomson Financial poll, analysts forecast profit of $1.04 per share and sales in line with results.
“Demand for rail service continued to be very strong with growth spread across each of our four business groups,” said Matthew K. Rose, chairman, president and chief executive.
The consumer products group posted a 17 percent jump in sales. Industrial products revenues rose 19 percent. Meanwhile, revenue from Burlington’s coal and agricultural products segments each rose 14 percent.