BNSF’s net profit for the first quarter of 2023 slipped 9% amid a 10% drop in carload volumes, the railroad’s parent company, Berkshire Hathaway (NYSE: BRK.B), reported Saturday.
Net income was nearly $1.25 billion in the first quarter, compared with $1.37 billion year over year.
Total revenues were $6 billion, up 1% from $5.97 billion a year ago. Of that, freight revenues were $5.75 billion, up 2.2% from nearly $5.63 billion in the first quarter of 2022.
BNSF attributed the revenue increase to...
https://www.freightwaves.com/news/bnsfs-q1-net-income-falls-9-amid-10-drop-in-carload-volumes