Rail

Amtrak reports record revenue

Posted on November 26, 2014

Amtrak reported unaudited record revenue totaling approximately $3.2 billion for the fiscal year ending Sept. 30, representing the fifth consecutive year of revenue growth, and the eighth out of the past nine years.

In FY 2014, Amtrak covered 93% of its operating costs with ticket sales and other revenues, up from 89% the year before. In addition, Amtrak’s unaudited federally funded operating loss of approximately $227 million was the lowest level since 1973, representing a 37% decrease from the prior year and 52% lower than in FY 2007.

As a result of the company’s strong operating performance, long-term debt reductions of approximately 61% over the past seven years to $1.3 billion, and other contributing factors, Moody’s Investor Service confirmed Amtrak’s A1/Stable debt rating on Nov. 12, 2014.

“Our efforts to operate a more financially sound railroad for our stakeholders continues to exceed expectations,” said Amtrak President/CEO Joe Boardman. “Amtrak’s customer value proposition improves each year as seen by our continued ridership and revenue growth for the better part of the past decade.”

Amtrak’s corporate restructuring has resulted in a strong emphasis on increased financial transparency, a de-leveraged balance sheet and providing an improved product to its existing customer base while attracting new passengers. This has resulted in consistently strong ridership and revenue growth and less reliance on federal operating grant support, according to the railroad.

View comments or post a comment on this story. (0 Comments)

More News

Council chair recommends rejecting all light rail bids for Metro's Southwest project

The bids were opened last month and represent the bulk of the construction work involved in building the tracks, road, bridges, trails, tunnels, stations, and other facilities needed for the 14.5-mile light rail line.

Amtrak campaign touts benefits of train over air, car travel

The marketing campaign, "Break the Travel Quo," showcases clever videos that depict some of the most prevalent pain points of modern day travel.

Metra on-time performance hits 96% in August

In August, 731 of 18,296 trains were tardy by six minutes or more. The most common causes for delays were related to signal/switch failure, increased passenger loadings, and track construction.

QLINE aims to popularize streetcars in Detroit

The $144 million QLINE, built as a local catalyst project, began rolling May 12, 2017 on a 3.3-mile segment of Woodward Avenue.

FRA clears hurdle for improving freight, passenger rail between D.C., Va.

The action moves the project one step closer to the construction phase of the Southeast Corridor, which will improve freight and rail traffic south of the nation’s capital. 

See More News

Post a Comment

Post Comment

Comments (0)

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

Work Truck Magazine

The number 1 resource for vocational truck fleets

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

LCT Magazine

Global Resource For Limousine and Bus Transportation

Please sign in or register to .    Close