Burlington Northern Santa Fe, LLC (BNSF), a wholly-owned subsidiary of Berkshire Hathaway Inc., reported a total revenue of $23.4 billion for the fiscal year ending December 31, 2024, reflecting a decrease of $439 million, or 2%, compared to $23.9 billion in 2023. The decline in revenue was primarily attributed to a 7% decrease in average revenue per car/unit, driven by lower fuel surcharge revenue and changes in business mix, despite a 7% increase in unit volume. Notably, the Consumer Products segment saw a revenue increase to $8.4 billion, up from $7.9 billion, largely due to higher intermodal shipments and new customer acquisitions.
Operating expenses for BNSF decreased by 3% to $16.0 billion in 2024, down from $16.5 billion in the previous year. This reduction was influenced by lower fuel prices, which decreased fuel expenses to $3.3 billion from $3.7 billion, and a decline in purchased services expenses following the sale of BNSF Logistics, LLC. However, compensation and benefits expenses rose to $5.9 billion, primarily due to a one-time payment related to a labor agreement with the SMART-TD union. The net income for the year was reported at $5.0 billion, slightly down from $5.1 billion in 2023.
BNSF's operational metrics indicated a total of 9.6 million cars/units transported in 2024, an increase from 9.0 million in 2023. The company’s freight revenue composition included 37% from Consumer Products, 25% from Agricultural Products, 25% from Industrial Products, and 13% from Coal. The coal segment experienced a decline in volume, primarily due to lower natural gas prices affecting demand. The company also reported a total employee count of approximately 36,500, with around 32,000 being union members.
Strategically, BNSF has focused on enhancing its operational efficiency and capacity to meet future demand. The company continues to invest in its infrastructure, with capital expenditures amounting to $3.2 billion in 2024. Additionally, BNSF has been actively involved in legal proceedings, including a significant judgment against it in a case with the Swinomish Tribe, which it is currently appealing. The company maintains a positive outlook, emphasizing its commitment to operational improvements and strategic investments to navigate the competitive landscape of the freight transportation industry.
Looking ahead, BNSF anticipates potential challenges from economic fluctuations, regulatory changes, and competition from other transportation modes. The company remains vigilant regarding market conditions and is prepared to adapt its strategies to sustain its operational performance and financial health.
About BURLINGTON NORTHERN SANTA FE, LLC
About 10-K Filings
A 10-K form is a comprehensive annual report that public companies in the United States must file with the SEC, providing a detailed overview of the company's financial condition, performance, and business strategies.
Key points about the 10-K:
- Frequency: Filed annually, typically within 60 to 90 days after the end of the company's fiscal year.
-
Content: It includes:
- Detailed financial statements audited by an independent accounting firm
- Management's Discussion and Analysis (MD&A) of financial condition and results
- Description of the company's business, properties, and legal proceedings
- Risk factors and market risks
- Executive compensation and corporate governance information
- Importance: Considered the most comprehensive and important document a public company files with the SEC.
- Length: Often exceeds 100 pages due to its extensive and detailed nature.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.