Flooding hurts BNSF
FORT WORTH, Texas (May 28, 2001) — Burlington Northern Santa Fe Corp. said last week that spring flooding in the upper Midwest United States will depress second-quarter earnings by about $30 million US.
The Fort Worth-based railroad said the flooding since mid-April raised operating expenses and cut revenue.
It said the reduced earnings would equal five cents per share. Analysts surveyed by Thomson Financial/First Call had expected the railroad to earn 58 cents per share in the second quarter.
Burlington Northern said its main lines between Chicago and Minneapolis-St. Paul and in the St. Louis area have either been shut down or operating at reduced speed for six weeks. The railroad said it expects operations to return to normal this weekend.
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