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Earnings Calls: 
Burlington Northern Santa Fe Earnings Call, Second Quarter 2008
Author: Godwin Gwetu
123jump.com
Last Update: 2:37 AM ET July 31 2008

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The railroad operator generated second quarter freight revenues which were $613 million or 16% higher than the second quarter of 2007. The revenue increase was mainly due to improved yields and an increase in fuel surcharges. The quarterly earnings were $1 per share in comparison with $1.20 per share in the same period last year. The management reported that the company has spent about $640 million on the share repurchase program year-to-date.


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Unidentified Analyst: You were talking about peak season looking like it was going to be almost a non-event as in the last two years. Is you peak season planning already over?

John P. Lanigan, Jr: From a standpoint of the way that we run the network, we run the network on a similar fashion on a year around basis within the inter-modal business. If we see we have headlights on unusual activities such as the all peak seasons that we use to have a few years ago, then we look at our equipment and staffing needs and those sorts of the things ahead of time.
It''s kind of an ongoing process. There is no stake in the ground. We just continue to gather data and information. However, as we''re going into this year, we are not gathering any information at this point that would indicate any significant increase.

Unidentified Analyst: How many times have you been surprised from your initial thoughts if you look back over the last decade?

John P. Lanigan, Jr: Very infrequently.

Unidentified Analyst: Any change in the Chinese Olympics to peak season patterns?

John P. Lanigan, Jr: No. We don''t think so.

John P. Lanigan, Jr: Beijing is not a manufacturing hub.

Unidentified Analyst: On the intermodal side, have you signed up any more tilt carriers to partner with?

Carl R. Ice: No one knew but what we''re seeing is just a steady growth from our existing customer base.
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