(Reuters distributed the following article on October 21.)
NEW YORK — Burlington Northern Santa Fe Corp. , the No. 2 U.S. railroad, on Tuesday said quarterly profit nudged ahead as gains in cargo volumes were offset by higher fuel costs.
The Fort Worth, Texas, company reported net income of $203 million, or 55 cents a share, in the third quarter. A year earlier, the operator of 32,500 miles of track in 28 U.S. states and two provinces of Canada reported net income of $192 million, or 51 cents a share.
Quarterly revenue rose to $2.4 billion from $2.3 billion a year ago, spurred by increasing export demand for wheat and growing demand for paper, construction and building products, the company said in a statement.
The increased revenue was slightly offset by fuel costs, which, at $260 million, were 21 percent higher than fuel expenses a year earlier, it said.