BNSF’s net income for the second quarter of 2023 fell 24% year over year (y/y) from $1.66 billion to $1.26 billion. Parent company Berkshire Hathaway attributed the second-quarter earnings decline primarily to lower overall freight volumes and higher nonfuel operating costs, which were partially offset by lower fuel costs.
Total revenues for the western U.S. Class I railroad were nearly $5.83 billion, down 12% y/y on the lower volumes, although revenue per carload was roughly flat.
Breaking down...
https://www.freightwaves.com/news/bnsfs-q2-earnings-slide-24-on-lower-freight-volumes