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BULLETIN: Burlington Northern Santa Fe Reports Q3 Results; Ratings and Outlook Not Affected Oct 03
Standard & Poors, Oct 2003
Abstract
NEW YORK (Standard & Poor's) Oct. 24, 2003--Burlington Northern Santa Fe (BNSF; BBB+/Negative/A-2) reported a 3.6% year-over-year increase in freight revenues for the third quarter of 2003. Operating income was $430 million in the quarter, which compares with operating income of $419 million in the third quarter of 2002. Standard & Poor's Ratings Services said the announcement has no impact on its ratings or outlook on BNSF. During the quarter, strong volumes in international and truckload and increasing demand for agricultural and industrial products offset weakness in the coal and automotive sectors. Despite a 4% increase in operating expenses year to year, including a 20.9% increase in fuel costs, the operating ratio (operating expenses, including depreciation, as a percentage of...
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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