Amtrak Made a Profit?

Answer: Here is an excerpt from, “No, Amtrak Isn’t About To Turn A Profit”:

“Amtrak announced a smallest-ever “adjusted operating loss” of $29.8 million in the 2019 fiscal year, which ended in September, and said it is on a “path to achieve operational breakeven in fiscal year 2020.” Along with the news that Amtrak ridership had hit an all-time high of 32.5 million, this garnered some nice headlines.

There are some other, less-impressive numbers, though, that the government-owned passenger railroad disclosed this week with no fanfare. Amtrak’s net loss according to Generally Accepted Accounting Principles was $874.8 million, up from $817.2 million in FY 2018. Amtrak also reported receiving $234 million in support from the governments of states through which some of its trains run; without that money, losses would have been well over $1 billion.“

Read more:

https://www.bloomberg.com/opinion/articles/2019-11-21/amtrak-isn-t-about-to-turn-a-profit?utm_source=url_link

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