Kansas City Southern (KCS) has reported revenues of $610 million for the 2017 first quarter, an 8 percent increase compared to revenues in the first quarter of 2016. When excluding estimated impact of lower Mexican peso depreciation, revenue increased 11 percent compared to the 2016 first quarter.
Reported net income in the first quarter of 2017 totaled $147 million, or $1.38 per diluted share, compared with $108 million, or $0.99 per diluted share, in the 2016 first quarter. Adjusted diluted earnings per share, which excluded the impacts of foreign exchange rate fluctuations, were $1.17 compared to $1.03 last year.
Overall, carload volumes, which totaled 541,000, increased 6 percent compared to the 2016 first quarter. Operating income for the first quarter of 2017 was $211 million, 12 percent higher than the same quarter in 2016. Operating ratio was 65.4 percent, a 1.2 point improvement from the first quarter 2016.
“Kansas City Southern is pleased with the return of year-over-year revenue and volume growth in first quarter 2017,” stated Patrick J. Ottensmeyer, KCS president and CEO. “We all remain focused on operational improvements and longer-term growth drivers and are excited to see some of these opportunities, such as refined products movements, materialize in 2017.”