While Warren E. Buffett, Chairman/CEO of BNSF parent company Berkshire Hathaway Inc., told shareholders in a Feb. 24 letter that he “erred” in his 2023 expectations for the Class I railroad, he was “particularly proud of both BNSF’s contribution to the country and the people who work in sub-zero outdoor jobs in North Dakota and Montana winters to keep America’s commercial arteries open.”
Union Tank Car Company (UTLX) on May 15 unveiled a redesigned logo that it said incorporates a bold yellow arrow—representing an “unwavering commitment to progress”—and highlights an affiliation with the larger set
BNSF posted net earnings of $5.946 billion in 2022, virtually flat with 2021’s $5.990 billion, reflecting “higher revenue per car/unit, substantially offset by lower overall freight volumes and higher fuel and other operating costs,” reported parent company Berkshire Hathaway Inc. on Feb. 25. This follows 2021’s net earnings’ increase of 16.1% over 2020.
BNSF’s after-tax earnings declined 6% in third-quarter 2022 and rose 4% in the first nine months of the year vs. the same periods last year, reflecting higher revenue per car/unit, lower overall freight volumes, and higher fuel and other operating costs, according to parent company Berkshire Hathaway.
BNSF has reported record net earnings of $5.99 billion in 2021, up 16.1% from 2020. “Here, it should be noted, we are talking about the old-fashioned sort of earnings that we favor: a figure calculated after interest, taxes, depreciation, amortization and all forms of compensation,” Warren E. Buffett, Chairman/CEO of parent company Berkshire Hathaway Inc. told shareholders in a Feb. 26 letter.
Railserve and Focused Technology Solutions (FTS) have developed the solar-powered Derail Light, 150 of which Railserve will install this quarter to improve derail device visibility in rail yards.
Despite a 7% decline in volume, BNSF’s profit margin increased by 2.9 percentage points in 2020, Warren Buffet, Chairman of the Board for parent company Berkshire Hathaway, told shareholders.
BNSF’s third-quarter operating revenues and pre-tax earnings fell 14.1% and 8.4%, respectively, due to the COVID-19 pandemic’s continuing impact.
BNSF Railway, wholly owned by Omaha-based Berkshire Hathaway, Inc., has reported second-quarter net income of $916 million, up 4% from $884 million in the comparable quarter of 2013.
If recent reports published by Railway Age and others regarding BNSF’s clogged network have managed to discourage any shipper or industry-related investor, I have news that might brighten their outlook.
