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

NJ Transit train crashes into station, killing 1 injuring 100

All PATH service and all NJ Transit rail service is suspended into and out of Hoboken, with passengers being advised to use light rail.

Atlanta Streetcar gets FTA grant to explore system expansion

The FTA monies would go toward an “Atlanta Beltline Transit Supportive Land Use Implementation Plan,” involving 16 miles of proposed east, west and crosstown streetcar corridors.

China developing 300 mph trains to lead export of high-speed tech

Under an ambitious government plan starting this year, the country is developing trains that can run on a hybrid-propulsion system that allows higher speeds.

Part of Amtrak investment package to modernize D.C. Union Station concourse

Early action construction will start in the fall of 2016 and include the relocation of heating and ventilation. Full-phased construction, funded by the new investment package, is anticipated to start in 2017 and will seek to minimize impacts to all station users.

Talgo to return to Milwaukee location to refurbish LA Metro railcars

In 2015, Talgo settled a lawsuit against the state, resulting in the company receiving roughly $50 million and keeping the two trains that were manufactured.

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