BNSF Railway
BNSF operating earnings were $1.56 billion in the second quarter of 2026.
The numbers
What it is
BNSF moves freight across a large North American rail network for industrial, consumer and energy shippers. Its results depend on volumes, fuel costs and the operating ratio, the share of revenue used up by operating expenses.
Why it matters to the stock. BNSF is the largest single operating earnings line in the railroad and utility group and is watched as a read on U.S. freight demand.
News
Berkshire Q2 operating earnings rise 16% to $12.98 billion; insurance underwriting falls 13%
Berkshire reported second-quarter 2026 operating earnings of $12.98 billion, up from $11.16 billion a year earlier, led by Manufacturing, service and retailing and BNSF.
Berkshire Q1 2026 operating earnings rise 18% to $11.3 billion; shares slip about 1% the next session
Berkshire reported first-quarter 2026 operating earnings of $11,346 million, up from $9,641 million a year earlier, led by insurance-underwriting, BNSF and BHE.
Berkshire takes $4.5 billion of Q4 2025 impairments on its Kraft Heinz and Occidental stakes
Berkshire recorded other-than-temporary impairments of $4,495 million in the fourth quarter of 2025 on its Kraft Heinz and Occidental Petroleum investments, and $8,255 million for the full year.