press "> press " />

7061 East Pleasant Valley Road, Independence, Ohio 44131 • (216) 241-2630 / Fax: (216) 241-6516

Membership
Benefits
News and Issues
Departments
Information
Merchandise
Communications
FELA
Events
Links
User Info

KCS reports 1Q 2017 income; Sets record for 1Q revenues, carloads, operating income, operating ratio, earnings per share

(Source: Kansas City Southern press release, April 21, 2017)

KANSAS CITY, Mo. — Kansas City Southern (KCS) reported first quarter 2017 revenues of $610 million, an increase of 8% over first quarter 2016. Overall carload volumes were 541 thousand, 6% higher compared to first quarter 2016. Excluding the estimated impact of Mexican peso depreciation, revenue increased by 11% compared to the first quarter of 2016.

First Quarter Highlights:
• Record first quarter revenues of $610 million, an increase of 8% over first quarter 2016 on a 6% increase in carloads;
• Operating income of $211 million, a first quarter record and 12% higher than prior year;
• Record first quarter operating ratio of 65.4%, a 1.2 point improvement over first quarter 2016; and
• Diluted earnings per share of $1.38, an increase of 39% over first quarter 2016. Adjusted diluted earnings per share of $1.17, an increase of 14% over first quarter 2016. Both diluted and adjusted diluted earnings per share were first quarter records.

First quarter 2017 revenues increased in four commodity groups, led by a 64% increase in Energy and a 25% increase in Automotive. Revenues from Chemical & Petroleum and Agriculture & Minerals were also positive with increases of 8% and 6%, respectively, compared to the first quarter of 2016. These increases were partially offset by declines in Intermodal and Industrial & Consumer of 2% and 1%, respectively, compared to the first quarter of 2016.

Operating expenses in the first quarter were $399 million, 6% higher than 2016. Excluding the estimated impact of Mexican peso depreciation, operating expenses increased 9% compared to the first quarter of 2016.

Operating income for the first quarter of 2017 was $211 million, an increase of 12% from the first quarter 2016. KCS reported a first quarter operating ratio of 65.4%, a 1.2 point improvement over first quarter 2016. 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 first quarter of 2016. Excluding the impacts of foreign exchange rate fluctuations, adjusted diluted earnings per share for first quarter 2017 was $1.17, compared to $1.03 in first quarter 2016.

“Kansas City Southern is pleased with the return of year-over-year revenue and volume growth in first quarter 2017,” stated Kansas City Southern’s President and Chief Executive Officer Patrick J. Ottensmeyer. “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.”

Friday, April 21, 2017

Like us on Facebook at
Facebook.com/BLETNational

Sign up for BLET News Flash Alerts

© 1997-2017 Brotherhood of Locomotive Engineers and Trainmen

 


Decertification Helpline
(216) 694-0240

National Negotiations

Sign up for BLET
News Flash Alerts

DAILY HEADLINES

AAR: Rail traffic up 5.2 percent from 2016 for week ending June 17
Teamsters set details of San Francisco UPS Day of Remembrance
Harrison makes the trains run on time
Amtrak CEO: Trump budget eliminates money to upgrade Northeast Corridor
House Transportation Committee talks funding for modernizing U.S. railways
Port truck driver strike continues at Ports of Los Angeles/Long Beach
Full speed ahead for a Texas bullet train?
Operation Lifesaver awards $217,000 for rail safety public awareness campaigns in 15 states
Men of steel: Documentary tells story of Navajo railroad workers
Fauth is Trump’s second NMB nominee
RRB issuing statements of service (Form BA-6)
Get the latest labor news from the Teamsters

More Headlines