KCS Targets Greenhouse Gas Emissions
Kansas City Southern has submitted a letter to the Science Based Targets Initiative (SBTi) committing to setting a greenhouse gas emissions reduction target.
KCS
BNSF, KCS: Giving Back to Local Communities
While BNSF and Kansas City Southern were unable to run their annual holiday trains this year due to the pandemic, they continued delivering donations to communities along their lines.
KCS: Investing for Growth, Delivering ‘Meaningful’ Capital Returns
Kansas City Southern’s (KCS) Board of Directors on Nov. 10 approved updates to the railroad’s capital allocation policy.
KCS 3Q2020 ‘Demonstrates Resiliency’ (UPDATED)
Kansas City Southern, the first Class I railroad out of the earnings report gate, took a revenue hit based on a carloadings drop, yet managed to post a 58.8% quarterly operating ratio. KCS also will initiate a $500 million share repurchase program on Oct. 16.
Flores Promoted to KCS VP Automotive and Intermodal Sales
Kansas City Southern (KCS) has promoted Rodrigo Flores from Vice President Automotive to Vice President Automotive and Intermodal Sales, effective Sept. 1, 2020. In this expanded role, Flores will be responsible for the automotive and intermodal business units in the U.S. and Mexico.
KCS Joins Operation Clean Sweep
Kansas City Southern (KCS) has formally joined the global network of Operation Clean Sweep® (OCS)—the Plastic Industry Association and American Chemistry Council’s Plastics Division’s campaign to reduce pellet, flake and powder loss for greater product stewardship and environmental protection. OCS aims to reach all aspects of the plastics industry and is being adopted globally through the Global Declaration of Solutions to Marine Litter.
Report: Is KCS In Play?
Two private equity firms are considering a takeover bid for Kansas City Southern, according to a report based on information from anonymous sources in the Wall Street Journal posted late afternoon on July 31, just before the closing bell on Wall Street.
KCS Sees 2Q Revenue Drop Due to COVID-19—But Still Tops Expectations
Kansas City Southern (KCS) reported 2Q20 revenues of $547.9 million, a decrease of 23% from 2Q19, primarily as a result of an overall decline in demand due to COVID-19. Overall, carload volumes were down 21% compared to the prior year.
Cowen: “Concerns Around KSU’s Concession in Mexico Are Overblown”
“We view concerns around Kansas City Southern’s concession in Mexico as overblown. The exclusivity provision cannot be revisited until 2027 and the concession remains in effect for 20 years after that. Further, KSU is improving its operations via PSR, which should aid Mexico as reliable rail service is likely to be a necessity for the country as it grows its manufacturing base. Reiterate Outperform.”
Takeaways From Cowen’s 2Q20 Rail Shipper Survey
“Shippers expect rail price increases of 2.3%, up 40bps sequentially, above rail cost inflation, but well below the survey’s average. Economic expectations are all higher sequentially; some remain below the survey’s average while some are very positive indicators. With PSR cost-cutting, growth opportunities and the ability to capitalize on supply chain near-shoring, Kansas City Southern remains our top rail pick.”