April 2026 Amtrak Financial Report
The April Report was dated May 29, 2026, and posted on the same date.
The Northeast Corridor (NEC) has an operating surplus of $201.7 million, and the remaining National System has an operating deficit of $493.9 million. Combined, the deficit is $292.2 million.
The NEC has capital expenditures of $2.9 billion and debt service of $102.6 million, and with federal grants and capital sources, a carryover balance for the year of $850.3 million plus any accumulated reserves from previous years.
The National System has capital expenditures of $961.9 million and $0.1 million in debt service. With federal grants and capital sources, it has a carryover balance of $408.4 million plus any accumulated reserves from previous years.
The combined accumulated reserves at October 1, 2025, totaled $242 million in cash and cash equivalents, $116 million in short-term investments, and $2.8 billion in available-for-sale securities. This brings total cash reserves as of October 1, 2024, to $3.1 billion. The current ratio (Current Assets divided by Current Liabilities) was 1.38, which would make Amtrak quite creditworthy for any fresh borrowings.
In October 2025, Amtrak’s burn rate (Operating Revenues-Minus Operating Expense-Minus Debt Service-Capital Expenditures) was $475.0 million. In March, the burn rate was $423.807 million. In April the burn rate was $554.180 million.
Capital Spending for the year to date totals $2.861 billion and breaks down as:
Capital Renewal $479.3 million;
Mechanical $194.1 million;
Operations $24.5 million;
Digital Technology $133.3 million;
ADA $113.9 million;
Stations & Facilities $36.7 million;
Amtrak Police & Emergency Management $0.1 million;
Safety $0.1 million;
Environmental $4.8 million;
Procurement and other $1.2 million;
Acela 21 $80.2 million;
Gateway $226.7 million;
Intercity Trainsets $117.7 million;
Major Stations $86.0 million,
Long-Distance Equipment Procurement $2.7 million;
Facilities $332.4 million;
Power $13.9 million;
Finance and other $15.6 million;
Total was $187.5 million less than FY2025 for the same period.
The GAAP loss for the year to date appears to be $992.0 million, which is $85.8 million better than FY2025. The cash operating earnings for the year to date were $107.7 million, better than in FY2025. The cash operating loss in April 2026 was $23.7 million.
For cash operating earnings, the corporation is $22.6 million ahead of its forecast for the fiscal year to date. The GAAP figure is $22.6 million better than the Forecast.
The number of product lines showing an operating surplus for the period was five. All five product lines were measurable:
Northeast Regional $126.6 million;
Acela $120.1 million;
Auto Train $10.8 million;
Ethan Allen $2.9 million;
Chicago-St. Louis $1.1 million;
The four Virginia product lines generated a total loss of $19.3 million.
Ridership for the fiscal year so far is more than 1,118,500 from FY2025.
For the year, Ridership stands at 20,636,200 (Amtrak reports ridership to the nearest 100). The total number of riders in April was 3,154,300.
The House Transportation and Infrastructure Committee released its draft of a Surface Transportation Reauthorization. Amtrak figures for the Fiscal Years 2027 to 2031 ranged from a potential $10.4 billion for the NEC and a potential $20.7 billion for the remaining national system. The Federal State Partnership for Intercity Rail had a potential of $18.5 billion. But with no guarantee that a single penny will be appropriated, long-range planning becomes very difficult. Especially when the budget bill never gets passed until well into the fiscal year.
Penn Station had another fire when two work trains collided under the station. This is the second or possibly third incident in the last few months.
Another subcontract for the new Hudson Tunnels was approved. This one creates the surface connection between the Secaucus Transfer Station and the new tunnel portal.