Oct 18 Kansas City Southern posted
higher third-quarter earnings and revenue as shipments
increased, and the U.S. railroad said it expected a strong end
to the year.
The Kansas City, 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 the fuel
Kansas City said it expected to benefit from growth in
export grain shipments at the end of the year.
Revenue from all agricultural and mineral shipments rose 7
percent during the third quarter, led by an 11 percent rise for
grain. On Thursday, Union Pacific said its agricultural revenue
fell 2 percent.
Kansas City said it had earned $119 million, or $1.07 a
share in the quarter, compared with $91 million, or 82 cents a
share, a year earlier.
Revenue rose 8 percent to $622 million, and carload volumes
increased 3 percent.
Shares of Kansas City, whose larger rivals include Union
Pacific Corp and CSX Corp, closed at $113.16
Thursday on the New York Stock Exchange.