BNSF Railroad saw financial improvements across the board as Berkshire Hathaway’s (NYSE: BRK-B ) unit posted sequential revenue and profits for the third quarter and nine-month period.
Revenue for the quarter was $5.988 billion, up from $5.881 billion in the same period in 2024, the company said in its 10Q filing. Pre-tax income rose to $1.912 billion from $1.846 billion. Net income was $1.449 billion, up from $1.383 billion. The operating ratio was 64.1%, 0.9% better year-on-year.
In the quarter, shipments of consumer products increased by 2.2% and agricultural and energy goods by 0.9%. Industrial products decreased by 1.9% and coal by 2.1%.
Average revenue per vehicle/unit increased 0.8% in the third quarter and fell 1.4% year over year in the first nine months of 2025 due to lower fuel surcharge revenue and an unfavorable business mix, partially offset by higher core prices.
In the first nine months of 2025, total revenues reached $17.390 billion, up from $17.242 billion last year. Pretax income improved to $5.324 billion from $4.987 billion, while net profit of $4.129 billion was better than $3.753 billion in the year. The operating ratio of 65.6% was 1.9% lower than in 2024.
Subscribe to FreightWaves Railroad E-Newsletter And get the latest information about rail transport straight to your inbox.
Related Coverage:
US rail traffic fell below 2024 levels for a third week
Press UP, NS to check quick merge
A 3% decline in rail volume: What it means for 2025
Heavy truck collides with Amtrak train near San Antonio
About the Author
