BNSF Railway posted a $603 million net income for the second quarter, up 49.3 percent from a year earlier as revenue rose 23.5 percent to $4.094 billion.
The railroad, an operating unit of Berkshire Hathaway since Feb. 12, reported the figures in a detailed filing with the Securities and Exchange Commission. Its profit margin increased to 14.7 percent of receipts from 12.2 percent in the 2009 quarter.
Separately, Berkshire reported that BNSF has been its largest contributor unit, as the parent firm’s operating earnings gained 73 percent in the quarter to $3.074 billion. Berkshire said the railroad has added $885 million to net earnings since the acquisition, including the $603 million profit for the latest three months.
By The Numbers: U.S. Rail Cargo.
BNSF no longer reports earnings in the same manner as when it was a standalone company, and its SEC filing did not detail performance by cargo type. However, its previous report on traffic for the week ending July 3 provides a close quarterly comparison.
It reported second-quarter intermodal volume up 9.72 percent from a year earlier to 1.038 million containers and trailers, while bulk and equipment railcar loads grew 11.6 percent to 1.217 million.
In the SEC report, BNSF said average revenue per unit hauled was $1,776 for the period of Feb. 13 through June 30, up 13.4 percent from the $1,566 average in the first half of 2009.
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