BNSFÆs intermodal revenue climbs as volumes drop
Burlington Northern Santa Fe Corp. had first quarter net income of $455 million, up from $349 million in the same 2007 period. The company reported higher revenue from intermodal cargo as volumes fell.
First-quarter 2008 freight revenue was $4.14 billion 17 percent higher than $3.54 billion in the same 2007 period.
The company said the revenue increase was primarily attributable to volume growth in agricultural products, improved yields and increased fuel surcharges of about $280 million driven by higher fuel prices.
Revenue from international intermodal was up 1.5 percent even as volumes fell 14 percent to 622,000 cars. Domestic intermodal revenue was up 8.5 percent while traffic fell less than 1 percent to 504,000 cars.
Revenue for agricultural products was up 38.3 percent, coal rose 25.5 percent, and industrial products improved 11 percent.