Kansas City Southern’s 3Q Income Rises
Kansas City Southern’s third-quarter net income rose to $119 million, or $1.07 a share, from $91 million, or 82 cents, a year ago.
The railroad’s revenue increased 8% to $622 million, the company reported Oct. 18.
Carload volumes increased 3%. Revenue grew in all six commodity groups, led by a 17% gain in intermodal and a 20% increase in cross-border revenue.
“In addition to the many exciting growth opportunities that we see on the horizon from intermodal, auto and energy, KCS’ core carload franchise continues to deliver solid revenue performance and contribution to our overall growth in earnings,” CEO David Starling said in a statement.
“Looking ahead, we expect a strong end to the year benefited by growth in export grain shipments. We also look forward to long-term improvement in our operating ratio as we move forward with our plan to increase the percentage of equipment we own versus lease,” he said.
