• Sat. May 15th, 2021

Kansas City Southern Reports Strong First Quarter Results

Kansas City Southern Reports Strong First Quarter Results

Kansas City Southern reported carload volumes up 4% compared to prior year

KANSAS CITY, MO (STL.News) Kansas City Southern (KCS) (NYSE:KSU) reported record revenues of $731.7 million, an increase of 8% from first quarter 2019.  Overall, carload volumes were up 4% compared to prior year.

Kansas City Southern First Quarter 2020

First quarter revenues were $731.7 million, an increase of 8% primarily led by a 18% increase in Chemicals and Petroleum due primarily to increased refined fuel products and liquid petroleum gas shipments to Mexico.  Intermodal revenues grew 11%, driven primarily by strong cross-border shipments. Agriculture and Minerals and Industrial and Consumer Products revenues also increased by 9% and 6%, respectively.  These increases were partially offset by revenue declines in the remaining two commodity groups.  Energy revenues declined by 13%, as increased Crude Oil shipments were more than offset by declines in Utility Coal and Frac Sand; Automotive revenues declined by 6%.

First quarter operating expenses were $442.9 million, including $6.0 million of restructuring charges related to PSR initiatives.  Operating income was $288.8 million and the reported operating ratio was 60.5%; on an adjusted basis, operating ratio was 59.7%.  First quarter net income was $152.3 million, or $1.58 per diluted share.  Adjusted first quarter operating income, operating ratio, net income and diluted earnings per share were as follows:

NOTE: this is NOT the complete release.

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Marty Smith

Marty Smith

Marty Smith is the acting Editor in Chief as well as the founder of STL.News, DirectSourceNews.org, and St. Louis Restaurant Review. Additionally, Smith is the IT Manager responsible for STL.News and affiliate sites. Smith has created multiple aggregator sites to manage the large amount of content used to select which content to published on STL.News. As Editor in Chief, Smith is responsible for the content posted on the network with the help of the publishing team, which is located around the globe.