February 28, 2017 - Progressive Railroading Magazine -
BNSF Railway Co. reported fourth-quarter 2016 revenue, operating income and net income all declined compared with the same quarter in 2015.
In 2016, total revenue slipped 2 percent to $5.3 billion, operating income fell 8 percent to $1.8 billion and net income decreased 8 percent to $993 million compared with the previous year's quarter, BNSF said in a financial performance statement.
For the full year, the Class I's total revenue dipped 10 percent to $19.8 billion, operating income tumbled 13 percent to $6.7 billion, and net income plummeted 16 percent to $3.6 billion compared with 2015's results.
BNSF attributed the decrease in earnings for the quarter and full year to "continued decline in demand, in particular in coal and crude oil businesses."
Read more: http://www.progressiverailroading.com/bnsf_railway/news/BNSFs-2016-earnings-hit-by-decline-in-coal-crude-oil-volumes--50966?email=peter@texasrailadvocates.org&utm_medium=email&utm_source=prdailynews&utm_campaign=prdailynews2/28/2017
BNSF Railway Co. reported fourth-quarter 2016 revenue, operating income and net income all declined compared with the same quarter in 2015.
In 2016, total revenue slipped 2 percent to $5.3 billion, operating income fell 8 percent to $1.8 billion and net income decreased 8 percent to $993 million compared with the previous year's quarter, BNSF said in a financial performance statement.
For the full year, the Class I's total revenue dipped 10 percent to $19.8 billion, operating income tumbled 13 percent to $6.7 billion, and net income plummeted 16 percent to $3.6 billion compared with 2015's results.
BNSF attributed the decrease in earnings for the quarter and full year to "continued decline in demand, in particular in coal and crude oil businesses."
Read more: http://www.progressiverailroading.com/bnsf_railway/news/BNSFs-2016-earnings-hit-by-decline-in-coal-crude-oil-volumes--50966?email=peter@texasrailadvocates.org&utm_medium=email&utm_source=prdailynews&utm_campaign=prdailynews2/28/2017