BNSF Q3 earnings climb 19.3% as rail freight volumes rise
Third-quarter earnings rose 19.3% at BNSF as increased fuel costs were offset by higher rail freight shipments and improved operating efficiencies.
BNSF’s third-quarter earnings rose 19.3% to $1.73 billion as higher freight volumes and improved operating efficiencies helped offset increased fuel costs.
The railroad’s net earnings increased from $1.45 billion in the third quarter of 2025, parent company Berkshire Hathaway (NYSE: BRK-B) reported. Railroad operating revenue climbed 14.7% to $6.87 billion, while car and unit volumes rose 3.9%, for the period ended Sept. 30.
The results extended BNSF’s earnings growth for the year. Through September, net earnings reached $4.66 billion, up 13% from $4.13 billion in the first nine months of 2025. Berkshire attributed the improvement to higher freight volumes and operating efficiencies, partly offset by rising fuel expenses.
BNSF’s railroad operating earnings increased to $2.48 billion in the third quarter from $2.15 billion a year earlier. Railroad operating expenses rose to $4.39 billion from $3.84 billion, but the increase remained below the dollar gain in operating revenue.
This story was originally published by FreightWaves. Read the full story at FreightWaves →
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