Photo: BNSF
BNSF Railway Co. has reported first-quarter net income fell 5% to $1.19 billion, operating income rose 2.5% to $1.8 billion and total revenue declined 6% to $5.4 billion compared with first-quarter 2019's results.
Progressive Railroading reports the revenue decrease was primarily due to a 5% decrease in unit volume and a 1% decrease in average revenue per car/unit driven by an arbitration hearing recognized in Q1 2019, in addition to lower fuel surcharges, BNSF officials said in a Q1 performance summary.
