BNSF THIRD-QUARTER EARNINGS OFF
Burlington Northern Santa Fe Corp. said Tuesday its third-quarter net income was off 14.7 percent, to $192 million, while net income for the first nine months of 2002 were up slightly.
Third-quarter operating income fell 16.1 percent to $421 million, on revenue of $2.31 billion, down 1.5 percent. Operating ratio increased to 81.6 percent, compared to 78.3 percent in the third quarter of 2001.
Consumer products adjusted revenues increased 3 percent to $881 million, due to increased intermodal volumes in international and truckload business, despite the work stoppage late in the third quarter at U.S. West Coast ports. Industrial products revenues were off 2 percent to $524 million, and agricultural products revenues declined 9 percent to $342 million. Coal revenues increased 3 percent to $535 million.
For the nine-month period, net income was $558 million, compared to $554 million in the first nine months of 2001. Operating income was $1.19 billion, down 11.5 percent, while revenues were off 3.3 percent, to $6.68 billion.