BNSF Railway saw its profit surge 73 percent in the first quarter from a year earlier to $506 million, as revenue grew 13 percent to $3.864 billion.
The rail firm, second largest in North America after western-U.S. rival Union Pacific Railroad, is a unit of investment firm Berkshire Hathaway.
BNSF listed its financial and some operating data in a filing with the Securities and Exchange Commission. It broke the financial report into periods before and after it became part of Berkshire in February.
The quarter’s net income compared with $293 million in the 2009 period, a time when traffic was shrinking rapidly as the recession worsened before bottoming out last spring. The latest profit was 13.09 percent of revenue, up from a margin of 8.56 percent a year earlier.
BNSF no longer gives detailed reports on its quarterly freight operations, as it did when it was a publicly traded firm and hosted earnings conference calls with analysts.
In the SEC filing it said overall freight traffic in this year’s January-March period slid 1.4 percent from a year earlier to 2.099 million units, but average revenue per unit in mid-February through March was up 15 percent from the 2009 quarter to nearly $1,800. Operating expenses rose 4.3 percent to $2.874 billion.
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