Intermodal revenues were mixed for several of the largest railroads last year. That means trucking may be retaining a competitive advantage in the long-haul freight market.
Ft. Worth, TX-based Burlington Northern Santa Fe Corp. (BNSF) reported only a 3% rise in revenues related to intermodal and truckload freight for the fourth quarter of 2002.
Its freight revenues of $2.27 billion for the fourth quarter were flat compared with the same period in 2001, while its consumer products revenues, reflecting international, intermodal, truckload, and perishables volume, only increased $27 million to $846 million.
Montreal-based Canadian National (CN) fared a little better, with intermodal revenues climbing 9% in 2002. However, CN said its net income for the year slipped to $800 million on revenues of $6.1 billion, compared to net income of $1.04 billion on revenues of $5.65 billion in 2001.
Omaha, NE-based Union Pacific (UP) said its intermodal revenues declined 2% in the fourth quarter and was up only slightly for 2002. However, despite that intermodal falloff, UP said its net income climbed 37% in the fourth quarter to $378 million compared to $275 million during the same period in 2001.