Having studied the Class 1 Financials for a couple of decades since they have become the Big 7, one thing that has been constant is UP being the “King of the Hill” in terms of total annual revenues. BNSF has typically been a close second, nipping at the heels of UP but never surpassing them.
However, for the First Quarter of 2018, BNSF reported total revenues of $5.624 billion versus UP total revenues of $5.475 billion.
UP reported handling 2.125 million revenue carloads and containers for Q1 2018.
BNSF had not release revenue carload data for Q1 2018 as of 05/05/18.
It will be interesting to watch!