(The Associated Press circulated the following article on July 26.)
FORT WORTH, Texas — Burlington Northern Santa Fe Corp., the nation’s second-largest railroad operator, said Tuesday its second-quarter profit increased 47 percent as freight revenue climbed 15 percent to a record $3.04 billion.
Net income grew to $366 million, or 96 cents per share, from $249 million, or 67 cents per share, in the year-ago quarter. Operating income rose to $710 million from $508 million last year.
Revenue increased 18 percent to $3.14 billion from $2.69 billion a year ago, as freight revenue rose to $3.04 billion from $2.64 billion last year.
The results beat analysts’ expectations for earnings of 93 cents per share on sales of $3.07 billion, according to a Thomson Financial poll.
From the year-ago quarter, revenue for carrying consumer products rose 19 percent to $201 million, industrial products grew 16 percent to $718 million, agricultural products sales increased 16 percent to $493 million, and coal revenue rose 7 percent to $591 million.