BNSF Railway saw a significant increase in its first-quarter coal business on a year-over-year basis, but volumes and revenues declined from gains seen at the end of 2016.
Q1 2017 coal volumes rose to 475,000 carloads, up 18.5% from the year-ago quarter, and coal revenues jumped to $960 million, up 23.2%, according to the railroad's quarterly financial report filed Friday with the US Securities and Exchange Commission.
The year-on-year rise in coal volumes reflected milder winter weather in Q1 2016 and higher natural gas prices this year, BNSF said in its filing. The increased utility coal usage was partially offset by the effects of coal unit retirements, it added.
Q1 coal totals, however, fell from upticks seen in Q4 2016, with volumes down 20.4% from 597,000 carloads and revenues slipping 3.6% to $960 million. Revenue declines were softened by a 7.7% quarter-over-quarter increase in revenue per carload to $2,021, the highest for the railroad since $2,023 in Q4 2015.
BNSF Railway operates in the US and Canada.
