Kansas City Southern : Reports Second Quarter Results
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Kansas City Southern (NYSE:KSU), Canadian National Railway Company (NYSE:CNI) - Kansas City Southern Miss On Q2 Earnings, See Strong Carload Volume Growth
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Kansas City Southern Reports First Quarter Results
April 16, 2021 GMT
KANSAS CITY, Mo. (BUSINESS WIRE) Apr 16, 2021
Kansas City Southern (KCS) (NYSE:KSU) reported revenues of $706.0 million, a decrease of 4% from first quarter 2020. Overall, carload volumes were down 1% compared to prior year.
First Quarter 2021
First quarter revenues were $706.0 million, a decrease of 4% primarily resulting from lower volumes, lower fuel surcharge, and fluctuations in foreign currency.
First quarter operating expenses were $453.0 million. Operating income was $253.0 million and the reported operating ratio was 64.2%. First quarter net income was $153.4 million, or $1.68 per diluted share. Adjusted first quarter operating income, net income and diluted earnings per share were as follows:
“Despite several significant challenges in the fourth quarter, including continued impacts from the pandemic, weather events and an extended outage from illegal protests on segments of our network in Mexico, KCS delivered strong fourth quarter results,” stated president and chief executive officer, Patrick J. Ottensmeyer. “Thanks to the hard work and dedication of our employees, we are overcoming the adversity that we faced in the fourth quarter and throughout 2020, and we heighten our focus on Precision Scheduled Railroading (PSR)-driven service improvements to realize the significant growth opportunities that we see going forward.”
Full Year 2020
Full year 2020 revenues were $2.6 billion, a decrease of 8% on a 6% decline in carloads. Operating income was $1.0 billion and the reported operating ratio was 61.9%. Full year 2020 net income was $619.1 million, or $6.54 per diluted share.