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BULLETIN: Burlington Northern Santa Fe Corp. Announces Q2 Results Jul 03
Standard & Poors, July 2003
Abstract
NEW YORK (Standard & Poor's) July 23, 2003--Burlington Northern Santa Fe (BNSF; BBB+/Negative/A-2) yesterday reported year-over-year quarterly revenue growth for the second consecutive quarter, with strong international volumes driving the increase. However, operating income declined, compared with the second quarter of 2002, primarily due to increased fuel expense. Standard & Poor's Ratings Services said the announcement has no impact on its ratings or outlook on BNSF. Freight revenues in the quarter totaled $2.26 billion, a 3.7% increase compared with the second quarter of 2002. Operating income totaled $412 million, down from $421 million in the second quarter of 2002. Fuel surcharges contributed $24 million to the year-over-year revenue increase while operating expenses were adversely affected by a $56 million year-over-year...
Companies mentioned in this report are: Burlington Northern Santa Fe LLC
Action: S&P Event
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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