BURLINGTON NORTHERN SAYS EARNINGS ARE DOWN
Burlington Northern Santa Fe Corp. said Wednesday its earnings will be less than forecast in the first quarter of 2001. Consequently, the Fort Worth, Texas-based railroad will reduce spending by $100 million.
Wall Street analysts had predicted earnings ranging from 52 cents a share to 45 cents. The actual figures were “within the range of expectations, but slightly below consensus,” said Richard Russack, a spokesman for the railroad. He blamed higher-than forecast fuel costs and flatlined freight orders.
Burlington Northern plans to issue its first-quarter results on April 24.