BNSF’s First-Quarter Profit Drops 55%

Burlington Northern Santa Fe Corp.’s first-quarter profit fell 55% on a one-time charge and lower shipping demand.

The rail line’s profit fell to $293 million, or 86 cents a share, from $455 million, or $1.30, a year ago. Revenue fell 20% to $3.42 billion.

BNSF took an 8-cent per share charge for getting out of hedging contracts as the price of fuel went down and a 19-cent charge for a coal rate case fine from earlier.

Consumer products revenue, which includes intermodal, fell 24% to $1.05 billion on lower international intermodal, domestic intermodal and automotive volumes due to economic conditions.

The company’s BNSF Railway Co. railway unit operates west of the Mississippi River.