Step onto the captivating world of Hotrail Productions, where the magic of lights, camera, and trains combines to create an unforgettable experience. I travel all over the country photographing railroad history in the making. My footage dates back to 1995. Whether it's a thrilling action sequence or a heartwarming romantic scene, the railway has long been a favorite setting for filmmakers and TV producers.
Berkshire Hathaway Chairman Warren Buffett said little about railroad in letter to shareholders
A BNSF stack train of J.B. Hunt containers heads west through Western Springs, Ill., on Jan. 2, 2021. David Lassen
OMAHA, Neb. — BNSF Railway’s pre-tax profits increased slightly in
2024 as traffic-mix changes — more intermodal, less coal — and lower
fuel-surcharge revenue offset an overall 6.5% increase in freight
volume.
For the year, BNSF’s pre-tax earnings increased 0.5%, to $6.64
billion, while revenue declined 0.5%, to $23.35 billion, the railway’s
corporate parent, Berkshire Hathaway, reported on Saturday.
BNSF’s net income declined 1.1%, to $5.03 billion. The railway’s operating ratio was 68%, an improvement of 0.4 points.
For the fourth quarter, BNSF’s operating income increased 12%, to
$2.16 billion, adjusted for the impact of a $290 million agreement with
the SMART-TD union that allows the railway to redeploy brakepersons to
conductor and engineer roles. The profit increase came despite a 1%
decline in quarterly revenue. The fourth quarter operating ratio,
adjusted for the SMART-TD agreement, improved 4.1 points to 64.6%.
“Fourth quarter earnings benefited from higher volumes, improved
productivity, and cost controls,” BNSF said. Overall quarterly volume
was up 7% thanks to increases in intermodal, industrial products, and
agricultural shipments.
The full-year revenue decline, Berkshire said, was primarily due to a
6.6% drop in average revenue per carload, which was attributed to lower
fuel surcharge revenue and changes in business mix.
Operating revenues from consumer products — which include intermodal
and automotive shipments — increased 7.1%, reflecting a volume increase
of 16.2% and lower average revenue per car/unit. The volume increase was
primarily due to higher intermodal shipments from west coast imports
and volumes from a new customer.
Industrial products revenue declined 1.2%, reflecting slight declines
in volume and average revenue per car. “The volume decline was
primarily due to lower aggregates, taconite, minerals and waste
shipments, substantially offset by higher plastics and petroleum
products volumes,” Berkshire said.
Agricultural products revenue increased 4.5% as volume rose 7.4% due to higher grain, renewable fuels, and fertilizer shipments.
Coal revenue fell 22.5%. “The decrease was attributable to a volume
decrease of 17.9% and lower average revenue per car/unit. The volume
decline was primarily due to lower natural gas prices,” Berkshire said.
Berkshire Hathaway Chairman Warren Buffett didn’t have much to say
about BNSF in his widely read annual letter to shareholders.
“Berkshire’s railroad and utility operations, our two largest businesses
outside of insurance, improved their aggregate earnings. Both, however,
have much left to accomplish,” he wrote.
Berkshire Hathaway reported its annual earnings on Saturday, including that of its railroad, BNSF. Berkshire Hathaway
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An eastbound UP empty hopper train crosses the ex-Chicago & Alton
line at Lincoln, Illinois. He is using trackage rights on the CN/IC line
from Peoria. The diamond is known as Athol Junction.
A very long BNSF tank train pulls out of the BN yard at Galesburg, Illinois.
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