CN, BNSF Report Lower Profit

Railroads Canadian National and Burlington Northern Santa Fe Corp. reported their first-quarter profits declined, even as revenue rose.

BNSF said Tuesday its profit fell 15% as costs for environmental cleanup and higher fuel costs offset record freight revenue, the Associated Press reported.

BNSF earned $349 million or 96 cents a share, down from $410 million or $1.09 a year earlier.

Revenue rose to $3.65 billion from $3.46 billion, with freight revenue rising 5% to a record $3.54 billion, the western rail line said.

CN, Canada’s largest railroad, earned C$324 million or 63 cents a share, down from C$362 million or 66 cents a year earlier.

The company estimated a week-long strike by the United Transportation Union reduced net income by C$35 million.

CN’s quarterly revenue rose C$1 million to C$191 billion, CN said.

Canadian Pacific, another Canadian railroad, said its first-quarter net income rose to C$128.6 million or 82 cents a share, from $108.8 million or 68 cents a year earlier. Freight revenue rose 2.2% to $1.09 billion.