KCS Announces $550MM ASR Program
Kansas City Southern (KCS) has entered into accelerated share repurchase transactions (ASR Transactions) with Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC for an aggregate amount of $550 million.
Kansas City Southern
KCS Announces New Capital Allocation Policy
Kansas City Southern’s (KCS) Board of Directors recently approved a new capital allocation policy, under which it intends to deploy available cash in the following manner: approximately 40-50% to capital projects and strategic investments, and approximately 50-60% to share repurchases and dividends.
KCS Releases 2018 Sustainability Report
Kansas City Southern (KCS) recently released its 2018 sustainability report, “For the Long Haul: Delivering Prosperity, Valuing People, Protecting the Planet,” the highlight of which saw KCS “reduce its carbon footprint by reducing waste and energy usage through design and innovation and decreasing Scope 1 greenhouse gas emissions by utilizing fuel-reduction technologies and operational initiatives.”
KCS Announces Holiday Express Details
Kansas City Southern (KCS) recently announced the schedule for the 19th annual Holiday Express train, which plans to stop in 20 communities in five U.S. states on 25 dates and begins in late November.
KCS 2Q19: Volume flat, but revenues reach record
Kansas City Southern (KCS) posted record revenues of $714 million, a 5% yearly increase, for 2Q19 despite “flat volumes,” the company reported on July 19.
KCS promotes Adamiak, Gloria Marrufo
Kansas City Southern (KCS) announced two promotions within its Chemical & Petroleum and Industrial & Consumer commodity groups, with Ginger Adamiak and Yesica Gloria Marrufo receiving new leadership roles.
KCS reports record 1Q2019 revenues, strong growth
Kansas City Southern (KCS) on April 17 reported record first-quarter 2019 revenues of $675 million, a 6% year-over-year increase on a 1% volume decline, based on adjusted operating income of $242 million. Its adjusted operating ratio was 64.2% compared to 65.8% the year prior. Adjusted diluted earnings per share were $1.54—18% higher than a year ago.
KCS names Fahmy EVP PSR
Kansas City Southern, joining Class I contemporaries Union Pacific, Norfolk Southern, CSX, CN and Canadian Pacific in adopting one form or another of Precision Scheduled Railroading (PSR), has appointed Sameh Fahmy as Executive Vice President PSR, reporting to KCS President and CEO Patrick J. Ottensmeyer.
KCS’s Ottensmeyer U.S. Chairman, U.S.-Mexico Economic Council
The U.S. Chamber of Commerce (USCOC) has named Kansas City Southern President and CEO Patrick Ottensmeyer as U.S. Chairman of its U.S.-Mexico Economic Council (USMXECO). Ottensmeyer will preside over the U.S.-Mexico CEO Dialogue, which occurs twice annually, and he will oversee the Council’s extensive agenda of engagement with public- and private-sector leaders in the U.S. and Mexico in an effort to strengthen bilateral commercial ties.
KCS: Strong 4Q18, record 2018, higher capex in 2019
Kansas City Southern (KCS) posted record revenues, adjusted operating income and adjusted earnings per share in 2018, but fell short of its own expectations for financial and operation performance, the company reported on Jan. 18. As well, it plans to increase capital investment in 2019 substantially, compared to 2018.