BNSF profit is up, but volume held back by congestion

US goods are moving. A good sign for the economy. Last week UP announced new jobs and upgrade expenditures etc.

http://www.omaha.com/money/bnsf-profit-is-up-but-volume-held-back-by-congestion/article_62684f3b-235b-5de3-8b5a-b23c2996c0ab.html

POSTED: TUESDAY, NOVEMBER 11, 2014 1:00 AM
By Russell Hubbard / World-Herald staff writer

BNSF Railway, employer of 5,000 people in Nebraska, said third-quarter profit rose 5 percent, with freight volume falling 1 percent as congestion continues to strain the company’s rail network.

The Fort Worth, Texas-based company, owned by Omaha’s Berkshire Hathaway Inc., said net income was $1 billion, up from $989 million, a year earlier. Revenue rose 4 percent to $5.8 billion.

Freight volumes fell in three of the railroad’s four categories, as crew, locomotive and railcar shortages coupled with record grain harvests and crude oil production from North Dakota have led to shipping delays. The harsh winter and spring floods also hurt the nation’s railroads in getting trains to customers on time.

To speed improvements, BNSF said in its quarterly update that it has budgeted $500 million more for capital improvements, on top of the $5 billion already allocated.

FULL story at link.