Amtrak Cascades - Revenue

2022 Ticket revenue increases 81% to $17.4 million in 2022

Amtrak Cascades experienced an 81% increase in ticket revenue from $9.6 million in 2021 to $17.4 million in 2022. Ticket revenue for 2022 was approximately 47% below the 2019 level of $33.2 million. The Seattle-to-Portland travel segment accounted for $7.4 million (43%) of ticket revenue in 2022, the largest share of any city pair.

Revenue from ticket sales, food and beverage sales, and other fees covered 52.6% of operating costs in 2022, compared to 40% in 2021. With the reopening of train service between Seattle and Vancouver, BC in September 2022, operating costs increased from $23.9 million in 2021 to $34.1 million in 2022. Ticket sales along the corridor increased accordingly, leading to a 12.6% jump in the fare box recovery rate.

The farebox recovery rate pertains to the Washington portion of the Amtrak Cascades Corridor and is determined based on data from Amtrak billing reports. This rate takes into account all revenue sources, including ticket revenues and additional sources such as food and beverage sales.

2021

Ticket revenue increases 47% to $9.6 million in 2021

Amtrak Cascades experienced a 47% increase in ticket revenue in 2021, which increased from $6.5 million in 2020 to $9.6 million in 2021. However, ticket revenue for the year was significantly below 2019 level of $33.2 million. The Seattle-to-Portland travel segment accounted for $4.1 million (43%) of ticket revenue, the largest share of any city pair.

The WSDOT-sponsored section of the Amtrak Cascades corridor accounted for $6.5 million in ticket sales in 2020, representing 97% of revenue for the entire Amtrak Cascades corridor. This segment also generated an additional $200,000 in revenue through food and beverage sales and other fees, bringing the segment's total 2020 revenue to $6.7 million —82% lower than the $35.2 million in total revenue during 2019. WSDOT also received $1.78 million in federal CARES Act and CRRSA Act economic recovery funding in 2020 to alleviate losses during the first year of the pandemic. These funds were not available in 2021.

2020

Ticket revenue decreases 80% to $6.5 million in 2020

Amtrak Cascades experienced an 80% decrease in ticket revenue in 2020, which dropped from $33.2 million in 2019 to $6.5 million in 2020. The Seattle-to-Portland travel segment accounted for $2 million (31.3%) of ticket revenue, the largest share of any city pair. Ticket revenue on that segment alone was down 81% from $10.5 million in 2019.

The WSDOT-sponsored section of the Amtrak Cascades corridor accounted for $6.5 million in ticket sales in 2020, representing 97% of revenue for the entire Amtrak Cascades corridor. This segment also generated an additional $200,000 in revenue through food and beverage sales and other fees, bringing the segment's total 2020 revenue to $6.7 million—82% lower than the $35.2 million in total revenue during 2019.

Washington Amtrak Cascades farebox recovery rate decreases

Total revenue (tickets, food and beverage, and other fees) covered 21.7% of WSDOT-funded Amtrak Cascades' $31 million total operating costs in 2020. This was a decrease of 38.1 percentage points from 59.8% in 2019. This percentage, called the farebox recovery rate, is the ratio between total revenue and total operating costs.

While revenue decreased by $28.5 million in 2020, operating costs decreased by $27.8 million over the same period. These operating costs reflect decreases in variable costs such as the number of trains operating, fuel consumption and Amtrak staffing. However, fixed costs, such as those associated with stations, insurance and host railroad fees, remained the same, resulting in a decrease in the farebox recovery rate.

Support from the Federal Coronavirus Aid, Relief, and Economic Security Act provided WSDOT with a $7.1 million credit against Amtrak Cascades operating costs to help offset some of those costs.

2019

Ticket revenue rises 6.3% to $33.2 million in 2019

Amtrak Cascades ticket revenue totaled $33.2 million in 2019, up 6.3% from $31.3 million in 2018. This increase was primarily due to the same promotions that led to increased ridership during off-peak periods. Sales of higher-priced business class tickets also contributed to the increase in revenue, with a 13.8% increase in business class tickets sold in 2019.

The Seattle-to-Portland travel segment accounted for the largest share of ticket revenue at $10.5 million, up nearly $550,000 over sales in 2018. Ticket sales between Seattle and Vancouver, B.C. also saw a $600,000 increase over 2018, with a total of $6.6 million in 2019.

The WSDOT-sponsored section of the Amtrak Cascades corridor accounted for $33.2 million in ticket sales, representing 94% of revenue for the entire Amtrak Cascades corridor. This segment also generated an additional $2 million in revenue through food and beverage sales and other fees. The segment's total 2019 revenue of $35.2 million was 6.3% higher than 2018's total revenue of $33.1 million.

Ticket revenue rises 6.3% to $33.2 million in 2019

Farebox recovery rate rises in 2019 Total revenue (tickets, food and beverage, and other fees) covered 59.8% of WSDOT-funded Amtrak Cascades' $58.9 million total operating costs in 2019. This was an increase of 2.1 percentage points from 57.7% in 2018. This percentage, called the farebox recovery rate, is the ratio between total revenue and total operating costs.

Revenue was higher in 2019 than in 2018, but operating costs also increased by $4.9 million over the same period. This increase in operating costs is primarily due to additional costs for use and maintenance of Amtrak-owned equipment. Using Amtrak-owned equipment has been necessary because of the loss of the WSDOT owned locomotive and trainset in the 2017 derailment in DuPont. When insurance reconciliations related to the derailment are finalized, WSDOT will be able to recover these costs.

2018

Amtrak Cascades ticket revenue rises in 2018

Amtrak Cascades ticket revenue totaled $31.3 million in 2018, an increase of 5.7% from $29.6 million in 2017. This increase was primarily due to reducing the number of everyday travel discounts and focusing on short flash sales to encourage travel during off-peak periods. As a result, revenue increased during peak travel periods (such as summer weekends, holidays and school breaks) in 2018, when demand did not warrant discount pricing.

The Seattle-to-Portland travel segment accounted for the largest share (31.6%) of ticket revenue in 2018, as it did in 2017. The segment's $9.9 million of ticket revenue was $800,000 more than in 2017.