Fort Worth, Texas – Burlington Northern Santa Fe Corp., the nation’s second biggest railroad operator, today said third-quarter profit rose 18 percent on the strength of higher coal, agriculture and intermodal volumes, as well as a boost from fuel surcharges.
Quarterly earnings increased to $488 million, or $1.33 per share, from $414 million, or $1.09 per share during the same period last year.
Analysts polled by Thomson Financial forecast earnings of $1.30 per share.
Revenue grew 19 percent to $3.94 billion from $3.32 billion during the same period a year ago. Analysts forecast revenue of $3.86 billion.
Its shares climbed $1.51 to $80.51 in premarket trading.
The company said the improved results came from a 10 percent jump in coal volumes and an 8 percent gain in intermodal, a fast-growing segment where goods are hauled between modes of transportation. Agricultural product volume also rose 8 percent.
Results included a $500 million boost from fuel surcharges.
In the year-ago quarter, the company reported a lift of $300 million.
Fuel expenses partially offset the current quarter’s gain by $293 million.
Burlington Northern is second only to Union Pacific Corp. in the U.S. railroad business.
