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

ABB to help Toronto light rail system cut emissions to zero

Will deliver a medium-voltage distribution and traction power system, including gas-insulated switchgear and substations.

Metra unveils winterization plans, customer communications

Through the use of GPS technology, the agency's communication specialists can monitor the position and timeliness of all trains in the system in real time and alert passengers in a variety of ways.

Alstom, Iraqi goverment sign MOU to develop rail transport systems

These projects would significantly contribute to the development of the country’s urban infrastructure and national economy.

Miami-Dade places first new train in 30-plus years into service

This is the first four-car train of 136 cars that will make up the new Metrorail fleet.

LA Metro breaks ground on $1.5B Gold Line rail extension

The historic ceremony held over the weekend marks the first Measure M-funded rail project to begin construction. 

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