Class I rail earnings up 32.6% in 12 months
Written by William C. Vantuono, Editor-in-ChiefU.S. Class I railroads earned net income totaling $8.78 billion in the 12 months ended Sept. 30, an increase of 32.6% over the prior-year period.
A comprehensive financial report posted on the Surface Transportation Board website also shows that during that period, Class I railway operating revenue increased 11.4% to $55.6 billion and revenue ton-miles were up 5.8% to 1.63 trillion.
Among individual railroads, Norfolk Southern reported a a 42.3% increase in net income; Burlington Northern Santa Fe, 30.4%; Union Pacific, 26.9%; CSX, 31,2%; and Kansas City Southern, 21,6%.
In the quarter ended Sept. 30, total Class I net income increased 51.5% compared with the 2009 third quarter and railway operating revenue rose 23.1%.
Norfolk Southern net income increased 64.5% in the quarter; BNSF, 42.7%; UP, 26.3%; CSX, 51.2%; and KCS, 41%.
