(BRK.A), (BRK.B)
Berkshire Hathaway-owned BNSF Railway has made dramatic progress in reducing unfilled grain shipments.
According to figures submitted to the Surface Transportation Board for the week of 8/20/22-8/26/2022, there were only 167 orders 1-10 days past due and 34 orders 11+ days past due.
This is a marked contrast to the week of 6/18/2022-6/24/2022 when there were 711 orders 1-10 days past due and 1,199 orders 11+ days past due.
Grain Car Backlog Status Report:
Following STB’s hearing on “Urgent Issues in Freight Rail Service” in April, BNSF Railway, CSX Transportation, Norfolk Southern Railway, and Union Pacific submitted service recovery plans explaining the specific actions they will take to improve service and identify the specific metrics they will use to evaluate their progress toward such improvements.
Starting June 3, the STB required BNSF Railway, CSX Transportation, Norfolk Southern Railway, and Union Pacific to file service progress reports further explaining efforts to correct service deficiencies. They will continue to file service progress reports every two weeks for six months. Starting June 15, the STB is also requiring all class I railroads to report additional employment data for six months.
© 2022 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell a stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.