BNSF Profit Jumps 19% as Railcar Maker FreightCar America’s Deliveries Halve

BNSF Railway Co.’s third-quarter profit rose 19% on higher freight volumes and stronger pricing, underscoring the health of US rail traffic even as demand for new railcars stays weak.

Net income at the Berkshire Hathaway Inc.-owned railroad climbed to $1.73 billion from 1.45 billion dollars a year earlier, according to Berkshire’s quarterly filing over the weekend. Railroad operating revenue rose 14.7% to 6.87 billion dollars, and car and unit volumes increased 3.9%.

Berkshire said higher volumes and operating efficiencies were partly offset by higher fuel costs. Fuel surcharge revenue and yield more than offset an 8.4% drop in coal shipments. For the first nine months, BNSF’s net earnings rose 13% to 4.66 billion dollars on volumes up 4.2%.

At the other end of the supply chain, FreightCar America Inc. said third-quarter revenue fell to $76.5 million from 160.5 million dollars. Railcar deliveries dropped to 662 units from 1,304 a year earlier. The builder posted an adjusted net loss of 9.5 million dollars, compared with adjusted net income of 7.8 million dollars a year earlier.

“While our third quarter results reflect a challenging period for the business,” Chief Executive Officer Nick Randall said, “some industry indicators are improving, although we have yet to see that translate into broader growth in railcar demand.”

The order book offers some relief. The backlog rose 28% from a year earlier to 2,660 units worth $284.5 million, and orders in the first nine months exceeded the total for all of 2025. The company kept its forecast of 3,100 to 3,300 deliveries this year.