Tuesday, April 29, 2008

Burlington Northern's 1Q Net Rises 30%

From Dow Jones via CNN Money:

Burlington Northern Santa Fe Corp.'s (BNI) first-quarter net income rose 30%, as the commodities boom translated into increased volume and better prices on shipments of agricultural products and coal.

The gain came even as the second-largest U.S. freight railroad operator behind Union Pacific Corp. (UNP) spent more than $1 billion on fuel, up 55% from a year earlier. The company, however, was able to collect an additional $280 million in fuel surcharges from its customers....MORE

From yesterday's Houston Chronicle:

Closing Glance: Rails, shippers up as oil falls from record

Shares of railroads hit all-time highs Monday as investors awaited first-quarter earnings from the nation's second-largest operator, Burlington Northern Santa Fe Corp., due out before the bell Tuesday. Shippers also rose as oil retreated slightly after hitting an all-time high near $120 a barrel earlier.

Here's how major players fared Monday:

Union Pacific Corp., up $1.01 to close at $141.60. The stock hit an all-time high of $142.50 during the session.

Burlington Northern Santa Fe Corp., up $1.37 to $101.12, after setting an all-time high of $101.46 earlier.

CSX Corp., up 14 cents to $62.08. Shares reached an all-time high of $62.94 during the session.

FedEx Corp., up $1.10 to $95.56.

United Parcel Service Inc., up 4 cents to $72.76.