Q2 revenue mark for Kansas City Southern
Written by Railway Age StaffKansas City Southern reported record second quarter 2017 revenues of $656 million, up 15% on-year, as carloads increased 6%.
The Kansas City, Mo.-based company said operating income increased 9% to $239 million, a historic quarterly record. Net income totaled $135 million, up from $121 million.
Operating ratio was 63.5%, a 2.2-point gain from a year ago. Operating expenses were $417 million, 20% higher than 2016.
Record second quarter diluted earnings per share was $1.27, an increase of 14% compared to second quarter 2016. Adjusted diluted earnings per share of $1.33 gained 9% compared to second quarter 2016.
“We are pleased to report record second quarter revenues and earnings per share, as well as an all-time record quarterly operating income,” said Kansas City Southern President and Chief Executive Officer Patrick J. Ottensmeyer. “Carloads were up in four out of six commodity groups…[and] featured strength in Energy, Automotive and Chemicals & Petroleum, as higher commodity prices, Mexican automotive production and the emergence of Mexican energy reform supported growth.”
