BNSF’s 4Q Income Falls 13%
Burlington Northern Santa Fe Corp. said its fourth-quarter profit fell 13% as shipping volumes continued to drop.
The rail line’s profit decreased to $536 million, or $1.55 per share, from $615 million, or $1.78, a year ago.
Freight revenue fell 15.9% to $3.57 billion, which included a decrease in fuel surcharges of about $388 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 19.8% to $1.14 billion, on lower volumes.
In full 2009 year, profit fell 18.6% to $1.72 billion, or $5.01 per share, from $2.1 billion, or $6.06, last year. Freight revenue dropped 22.4% to $13.6 billion for the year.
The company’s BNSF Railway Co. railway unit operates west of the Mississippi River.
