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BNSF earnings rise on higher volume and revenue
['Trains.Com Staff', 'Mon', 'August', 'At Pm Gmt', 'Min Read']
Yahoo Finance
BNSF Railway reported higher second-quarter, pre-tax earnings thanks to a combination of volume growth and higher revenue per load, parent company Berkshire Hathaway (NYSE: BRK-B) reported on Saturday.
BNSF's pre-tax earnings rose 13.9%, to $2.06 billion, as revenue increased 14.6%, to $6.56 billion.
Quarterly volume rose 6.5%, while average revenue per unit increased 7.6%, primarily from higher fuel surcharge revenue.
Industrial products volume increased 3.1%, which Berkshire attributed to higher steel, aggregates, and cement shipments.
Read more:AAR launches freight rail research consortiumRail merger a failure on first sight, shippers protestThese two industrial categories paced another strong week for rail freightCPKC income higher as revenue sets new second-quarter recordIndustrial products spark rail freight gainsThe post BNSF earnings rise on higher volume and revenue appeared first on FreightWaves.