Santa Fe Southern Pacific’s Net Rises 33% in Quarter

Santa Fe Southern Pacific said that improved results in its petroleum, real estate and pipeline operations led to a 33% jump in fourth-quarter earnings. However, profit for all of 1985 fell 6%.

The Chicago-based diversified transportation and real estate firm said fourth-quarter net income rose to $137.3 million from $103.4 million in the year-ago period.

Results were hurt by profit declines in the firm’s railroad operations.

Revenue for the quarter declined to $1.58 billion from $1.65 billion a year earlier.

For the full year, net income fell to $469.6 million from $490.8 million in 1984.

All major business segments reported increased operating income for the year except for forest products and rail transportation, the firm said.

Revenue fell to $6.44 billion from $6.66 billion in 1984.

Santa Fe Railway reported fourth-quarter operating income of $35.1 million, down from $42.6 million in the year-ago period.

Carloadings fell 10%, more than offsetting a 3% increase in revenue per carload. Operating expenses declined 6%.

San Francisco-based Southern Pacific Transportation, the railroad being held in trust pending Interstate Commerce Commission approval of a merger with Santa Fe Railway, reported fourth-quarter operating income of $5.3 million, down from $10.9 million in the 1984 period.

Carloadings fell 8% while revenue per carload declined 3%, the parent firm said.