Kansas City Southern’s Third-Quarter Income Rises
Kansas City Southern’s third-quarter net income rose to $138 million, or $1.25 a share, from $119 million, or $1.07, a year ago.
The railroad’s revenue increased 9% to $678 million, the company reported.
Carload volumes increased 4%. Revenue grew in five of the six commodity groups, led by a 28% gain in automotive. Energy revenue declined 4% due to a drop in utility coal and shipments of sand used in hydraulic fracturing.
“We are optimistic about the remainder of the year and reaffirm our updated 2014 goals outlined to investors in September. Looking ahead, we expect KCS’ long-term growth to be fueled by systemwide opportunities, which position KCS very well over the next several years,” CEO David Starling said in a statement.
