Kansas City Southern (KCS) has reported revenues of $656 million for the 2017 second quarter, a 15 percent increase compared to revenues in the second quarter of 2016.
Reported net income in the second quarter of 2017 totaled $135 million, or $1.27 per diluted share, compared with $121 million, or $1.11 per diluted share in the 2016 second quarter. Adjusted diluted earnings per share, which excluded the impacts of foreign exchange rate fluctuations, were $1.33 compared to $1.22 last year.
Overall, carload volumes increased 6 percent compared to the 2016 second quarter. Operating income for the second quarter of 2017 was $239 million, 9 percent higher than the same quarter in 2016 and an all-time quarterly record. Operating ratio was 63.5 percent, a 2.2 point improvement from the 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,” stated Patrick J. Ottensmeyer, KCS president and CEO. “All three milestones highlight the overall strength of our second quarter 2017 results.”
“Carloads were up in four out of six commodity groups, driving strong second quarter revenue growth of 15 percent,” added Ottensmeyer. “Our revenue performance featured strength in Energy, Automotive and Chemicals & Petroleum, as higher commodity prices, Mexican automotive production and the emergence of Mexican energy reform supported growth.”
“Looking forward, the investments that we have made in our network and our ability to improve operational performance in a strong demand environment position our Company for continued growth,” concluded Ottensmeyer.