en.Wedoany.com Reported - According to the first-quarter earnings summary released by BNSF Railway, the company's operating revenue reached $5.97 billion, a 5% increase compared to the same period last year, while net profit rose 13% to $1.4 billion. Operating income grew 12% to $2 billion, and the operating ratio improved by 2.3 basis points to 65.6.
BNSF stated that the revenue growth was primarily driven by a 2% increase in freight volumes and a 3% rise in average revenue per unit, the latter fueled by business mix, core pricing gains, and higher fuel surcharge revenue. By commodity category, consumer products freight volume increased by 1%, with rising West Coast imports as the main driver; agricultural and energy products freight volume grew by 12%, reflecting higher demand; industrial products freight volume declined by 1%, impacted by reduced plastic shipments and a sluggish real estate market; coal freight volume fell by 2%, as the retirement of power plants was partially offset by increased demand stemming from higher natural gas prices. Consumer products revenue remained flat at $2 billion, agricultural and energy products revenue rose 15% to $1.8 billion, industrial products revenue increased 2% to $1.2 billion, and coal revenue grew 1% to $742 million. Operating expenses rose 1% to $3.9 billion, mainly due to an 11% increase in materials and other expenses, as well as higher accident-related costs.
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