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BULLETIN: Burlington Northern Santa Fe Corp. Reports First-Quarter 2002 Earnings Apr 02
Standard & Poors, April 2002
Abstract
Burlington Northern Santa Fe Corp. (BBB+/Negative/A-2) today announced net income for the first quarter of 2002 of $172 million, down from $179 million for the same period in 2001, on a comparable basis. Standard & Poor's rating and outlook on Burlington Northern are not affected. Burlington Northern's first-quarter operating income was $368 million, down 12% from a year earlier, on a 6% decline in revenues to $2.16 billion. Agricultural products revenues were down 13% for the quarter, reflecting decreased soybean, corn, and wheat exports. The company's operating ratio (operating expenses to revenues) deteriorated to 82.8% from 81.5% a year earlier. Operating income benefited as fuel expenses for the quarter were down by $73 million and labor costs were down by...
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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