Kansas City Southern posts higher results, sees strong year-end
Oct 18 (Reuters) - Kansas City Southern posted higher quarterly profit and revenue as the railroad saw improved shipments, and it said it expects a strong end to the year as cross-border business grew.
The Missouri-based company gets almost half of its revenue from Mexico. The strength of its cross-border business has placed Kansas City Southern in a better position than most U.S. railroads, whose heavy dependence on coal shipments has hurt them since early 2012 as demand for coal has slumped.
For the third quarter, the company earned $119 million, or $1.07 a share, compared with $91 million, or 82 cents a share, a year before.
Revenue came in at $622 million, an increase of 8 percent over last year. Overall, carload volumes were 3 percent higher than in third-quarter 2012.