Kansas City Southern’s 2Q Income Drops

Kansas City Southern’s second-quarter net income fell to $15 million, or 14 cents a share, from $120 million, or $1.09, a year ago.

The railroad’s revenue increased 6% to $579 million, the company said Friday.

The company said net income declined on retirement costs and foreign exchange rate fluctuations.

Carload volumes increased 3%. Revenue grew in five out of six commodity groups, led by a 31% gain in energy and a 20% increase in automotive.

Revenue for the agriculture and minerals group fell 18%.