Amtrak has reported record revenue of about $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.
The company covered 93 percent of its fiscal year operating costs with ticket sales and other revenues, up from 89 percent 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 percent decrease from 2013.
As a result of the company's strong performance, long-term debt reductions of 61 percent over the past seven years to $1.3 billion and other contributing factors, Moody's Investor Service confirmed Amtrak's A1/stable debt rating Nov. 12.
“Our financial performance over the past year is the clearest indication yet that Amtrak's investments, operating efficiencies and focus on its customers is paying off,” said Amtrak Chairman of the Board Tony Coscia. “Under the leadership of Amtrak's board and management, the company is transforming how it does business. As we continue to make improvements in our operating and financial performance, we call upon the federal government and our stakeholders to support the capital investments necessary to keep moving Amtrak forward."
“Our efforts to operate a more financially sound railroad for our stakeholders continues to exceed expectations,” said President and 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 is building the equipment, infrastructure and organization needed to ensure its strong growth continues, Coscia said. Over the past few years the company has seen the expansion of state-supported services, the introduction of Wi-Fi and e-ticketing technologies and a major planning effort for the development of next-generation high-speed rail.
Boardman said these actions form the foundation that will support more and faster service and improve the reliability and safety of current and future operations while meeting the expectations of a growing number of customers choosing Amtrak for their travel needs.
The company covered 93 percent of its fiscal year operating costs with ticket sales and other revenues, up from 89 percent 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 percent decrease from 2013.
As a result of the company's strong performance, long-term debt reductions of 61 percent over the past seven years to $1.3 billion and other contributing factors, Moody's Investor Service confirmed Amtrak's A1/stable debt rating Nov. 12.
“Our financial performance over the past year is the clearest indication yet that Amtrak's investments, operating efficiencies and focus on its customers is paying off,” said Amtrak Chairman of the Board Tony Coscia. “Under the leadership of Amtrak's board and management, the company is transforming how it does business. As we continue to make improvements in our operating and financial performance, we call upon the federal government and our stakeholders to support the capital investments necessary to keep moving Amtrak forward."
“Our efforts to operate a more financially sound railroad for our stakeholders continues to exceed expectations,” said President and 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 is building the equipment, infrastructure and organization needed to ensure its strong growth continues, Coscia said. Over the past few years the company has seen the expansion of state-supported services, the introduction of Wi-Fi and e-ticketing technologies and a major planning effort for the development of next-generation high-speed rail.
Boardman said these actions form the foundation that will support more and faster service and improve the reliability and safety of current and future operations while meeting the expectations of a growing number of customers choosing Amtrak for their travel needs.
RSS Feed