Slumping revenues for coal and energy products put pressure on BNSF’s (NYSE: BRK) profits in the third quarter, according to parent company Berkshire Hathaway.
Third-quarter operating revenue was $5 billion, down 14.1% compared with the third quarter of 2019, as rail volumes continued to be negatively impacted by the pandemic, Berkshire Hathaway said this weekend.
Pretax earnings in the third quarter were $1.8 billion, down 8.4% from the same period a year ago.
Looking at operating revenues,...
https://www.freightwaves.com/news/coal-petroleum-and-sand-drive-bnsfs-operating-revenues-lower