BNSF Railway, a Berkshire Hathaway unit, reported revenue of $5.988 billion in Q3, up from $5.881 billion in 2024. Pre-tax earnings rose to $1.912 billion from $1.846 billion, with net earnings at $1.449 billion, up from $1.383 billion. Operating ratio improved to 64.1%.

Shipments of consumer products and agriculture/energy commodities increased, while industrial products and coal declined in Q3. West Coast imports boosted intermodal traffic. Average revenue per car/unit increased by 0.8% in Q3 but decreased by 1.4% in the first nine months of 2025 compared to last year.

For the first nine months of 2025, BNSF Railway reported revenues of $17.390 billion, up from $17.242 billion in 2024. Pre-tax earnings improved to $5.324 billion from $4.987 billion, with net earnings at $4.129 billion, up from $3.753 billion. The operating ratio was 65.6%, 1.9% lower than last year.

Read more at Yahoo Finance: BNSF earnings gain in Q3