BNSF’s 3Q Income Falls 29.8%

Burlington Northern Santa Fe Corp. said its third-quarter profit fell 29.8% as shipping volumes dropped.

The rail line’s profit decreased to $488 million, or $1.42 per share, from $695 million, or $1.99, a year ago.

Freight revenue fell 26.8% to $3.49 billion, which included a decrease in fuel surcharges of about $725 million and the rest due to lower unit volumes as a result of the economic downturn, partially offset by improved yields, BNSF said.

Consumer products revenue, which includes intermodal, fell 36% to $1.09 billion, on lower domestic and international intermodal and automotive volumes.

The company’s BNSF Railway Co. railway unit operates west of the Mississippi River.