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     355  0 Kommentare Kansas City Southern Reports Record Second Quarter Results

    Kansas City Southern (KCS) (NYSE:KSU) reported record revenues of $714 million, an increase of 5% from second quarter 2018. Overall, carload volumes were flat compared to prior year.

    Revenue growth for the second quarter of 2019 was led by a 19% increase in Chemicals and Petroleum due to growth in shipments related to Mexico energy reform, and a 5% increase in Automotive. These increases were partially offset by revenue declines in the remaining four commodity groups. Energy revenues declined by 5%, as increased Utility Coal shipments were more than offset by declines in Frac Sand and Crude Oil. Industrial & Consumer Products and Agriculture & Minerals revenues each declined by 2%, and Intermodal revenues declined by 1%.

    In the second quarter of 2019, reported operating expenses were $506 million. Excluding restructuring charges related to PSR initiatives, adjusted operating expenses were $455 million, 4% higher than 2018. Adjusted operating income was $259 million, 5% higher than a year ago. KCS reported an adjusted second quarter operating ratio of 63.7%, a 0.3 point improvement over second quarter 2018.

    Reported net income in the second quarter of 2019 was $129 million, or $1.28 per diluted share, compared with $148 million, or $1.45 per diluted share in the second quarter of 2018. As presented in the following reconciliations, adjusted diluted earnings per share was $1.64, 6% higher than a year ago.

    “The Company is handling the same volume as last year with fewer assets, fewer crewstarts and considerably less network congestion, driving an improvement in customer service, operating metrics and cost profile,” stated Kansas City Southern’s President and Chief Executive Officer Patrick J. Ottensmeyer. “This improvement in cost profile helped us absorb a 130 basis point headwind to our adjusted operating ratio from the loss of the Mexican Fuel Excise Tax credit, while still improving profitability versus prior year.

    “I am extremely pleased with the commitment, enthusiasm and cross-functional teamwork that my Kansas City Southern colleagues have demonstrated in the early stages of executing Precision Scheduled Railroading principles. Together we are building a more consistent, reliable and resilient network that is positioned to deliver excellent customer service and strong operating leverage as volume and revenue growth improves.”

    GAAP Reconciliations

    ($ in millions, except per share amounts)

     

    Reconciliation of Diluted Earnings per Share to

     

     

     

    Adjusted Diluted Earnings per Share

    Three Months Ended June 30, 2019

     

    Income
    Before
    Income
    Taxes

     

    Income
    Tax
    Expense

     

    Net
    Income

     

    Diluted
    Earnings
    per Share

    As reported

    $

    188.2

     

     

    $

    59.1

     

     

    $

    129.1

     

     

    $

    1.28

     

    Adjustments for:

     

     

     

     

     

     

     

    Restructuring charges

    51.0

     

     

    13.2

     

     

    37.8

     

     

    0.38

     

    Foreign exchange gain

    (8.3

    )

     

    (2.5

    )

     

    (5.8

    )

     

    (0.06

    )

    Foreign exchange component of income taxes

     

     

    (4.0

    )

     

    4.0

     

     

    0.04

     

    Adjusted

    $

    230.9

     

     

    $

    65.8

     

     

    165.1

     

     

     

    Less: Noncontrolling interest and preferred stock dividends

     

     

     

     

    (0.4

    )

     

     

    Adjusted net income available to common stockholders - see (a) below

     

     

     

     

    $

    164.7

     

     

    $

    1.64

     

     

     

     

     

     

     

     

     

     

    Three Months Ended June 30, 2018

     

    Income
    Before
    Income
    Taxes

     

    Income
    Tax
    Expense

     

    Net
    Income

     

    Diluted
    Earnings
    per Share

    As reported

    $

    196.1

     

     

    $

    47.4

     

     

    $

    148.7

     

     

    $

    1.45

     

    Adjustments for:

     

     

     

     

     

     

     

    Debt retirement costs

    2.2

     

     

    0.7

     

     

    1.5

     

     

    0.02

     

    Tax Cuts and Jobs Act

     

     

    4.3

     

     

    (4.3

    )

     

    (0.04

    )

    Foreign exchange loss

    21.0

     

     

    6.3

     

     

    14.7

     

     

    0.14

     

    Foreign exchange component of income taxes

     

     

    2.4

     

     

    (2.4

    )

     

    (0.03

    )

    Adjusted

    $

    219.3

     

     

    $

    61.1

     

     

    $

    158.2

     

     

     

    Less: Noncontrolling interest and preferred stock dividends

     

     

     

     

    (0.5

    )

     

     

    Adjusted net income available to common stockholders - see (a) below

     

     

     

     

    $

    157.7

     

     

    $

    1.54

     

    GAAP Reconciliations (continued)

    ($ in millions)

     

    Reconciliation of Operating Expenses to Adjusted

    Three Months Ended

     

    Six Months Ended

    Operating Expenses

    June 30,

     

    June 30,

     

     

    2019

     

    2018

     

    2019

     

    2018

    Operating expenses as reported

    $

    506.0

     

     

    $

    436.6

     

     

    $

    1,020.5

     

     

    $

    856.5

     

    Adjustment for restructuring charges

    (51.0

    )

     

     

     

    (118.5

    )

     

     

    Adjusted operating expenses - see (b) below

    $

    455.0

     

     

    $

    436.6

     

     

    $

    902.0

     

     

    $

    856.5

     

     

     

     

     

     

     

     

     

    Operating income as reported

    $

    208.0

     

     

    $

    245.8

     

     

    $

    368.3

     

     

    $

    464.5

     

    Adjusted operating income - see (b) below

    259.0

     

     

    245.8

     

     

    486.8

     

     

    464.5

     

     

     

     

     

     

     

     

     

    Operating ratio (c) as reported

    70.9

    %

     

    64.0

    %

     

    73.5

    %

     

    64.8

    %

    Adjusted operating ratio - see (b) and (c) below

    63.7

    %

     

    64.0

    %

     

    64.9

    %

     

    64.8

    %

    (a)

    The Company believes adjusted diluted earnings per share is meaningful as it allows investors to evaluate the Company’s performance for different periods on a more comparable basis by adjusting for the impact of changes in foreign currency exchange rates, the impact of adjustments to 2017 provisional income tax benefit for the Tax Cuts and Jobs Act, and items that are not directly related to the ongoing operations of the Company. The income tax expense impacts related to these adjustments are calculated at the applicable statutory tax rate.

    (b)

    The Company believes adjusted operating expenses, operating income and operating ratio are meaningful as they allow investors to evaluate the Company's performance for different periods on a more comparable basis by adjusting for items that are not directly related to the ongoing operations of the Company.

    (c)

    Operating ratio is calculated by dividing operating expenses by revenues; or in the case of adjusted operating ratio, adjusted operating expenses divided by revenues.

    Headquartered in Kansas City, Mo., Kansas City Southern (KCS) (NYSE:KSU) is a transportation holding company that has railroad investments in the U.S., Mexico and Panama. Its primary U.S. holding is The Kansas City Southern Railway Company, serving the central and south central U.S. Its international holdings include Kansas City Southern de México, S.A. de C.V., serving northeastern and central Mexico and the port cities of Lázaro Cárdenas, Tampico and Veracruz, and a 50 percent interest in Panama Canal Railway Company, providing ocean-to-ocean freight and passenger service along the Panama Canal. KCS' North American rail holdings and strategic alliances with other North American rail partners are primary components of a unique railway system, linking the commercial and industrial centers of the U.S., Mexico and Canada. More information about KCS can be found at www.kcsouthern.com.

    This news release contains “forward-looking statements” within the meaning of the securities laws concerning potential future events involving KCS and its subsidiaries, which could materially differ from the events that actually occur. Words such as “projects,” “estimates,” “forecasts,” “believes,” “intends,” “expects,” “anticipates,” and similar expressions are intended to identify many of these forward-looking statements. Such forward-looking statements are based upon information currently available to management and management’s perception thereof as of the date hereof. Differences that actually occur could be caused by a number of external factors over which management has little or no control, including: competition and consolidation within the transportation industry; the business environment in industries that produce and use items shipped by rail; loss of the rail concession of KCS’ subsidiary, Kansas City Southern de México, S.A. de C.V.; the termination of, or failure to renew, agreements with customers, other railroads and third parties; access to capital; disruptions to KCS’ technology infrastructure, including its computer systems; natural events such as severe weather, hurricanes and floods; market and regulatory responses to climate change; legislative and regulatory developments and disputes; rail accidents or other incidents or accidents on KCS’ rail network or at KCS’ facilities or customer facilities involving the release of hazardous materials, including toxic inhalation hazards; fluctuation in prices or availability of key materials, in particular diesel fuel; dependency on certain key suppliers of core rail equipment; changes in securities and capital markets; unavailability of qualified personnel; labor difficulties, including strikes and work stoppages; acts of terrorism or risk of terrorist activities; war or risk of war; domestic and international economic, political and social conditions; the level of trade between the United States and Asia or Mexico; fluctuations in the peso-dollar exchange rate; increased demand and traffic congestion; the outcome of claims and litigation involving KCS or its subsidiaries; and other factors affecting the operation of the business. More detailed information about factors that could affect future events may be found in filings by KCS with the Securities and Exchange Commission, including KCS’ Annual Report on Form 10-K for the year ended December 31, 2018 (File No. 1-4717) and subsequent reports. Forward-looking statements are not, and should not be relied upon as, a guarantee of future performance or results, nor will they necessarily prove to be accurate indications of the times at or by which any such performance or results will be achieved. As a result, actual outcomes and results may differ materially from those expressed in forward-looking statements. KCS is not obligated to update any forward-looking statements to reflect future events or developments.

     

     

     

     

     

     

     

     

    Kansas City Southern and Subsidiaries

    Consolidated Statements of Income

    (In millions, except share and per share amounts)

    (Unaudited)

     

    Three Months Ended

     

    Six Months Ended

     

    June 30,

     

    June 30,

     

    2019

     

    2018

     

    2019

     

    2018

    Revenues

    $

    714.0

     

     

    $

    682.4

     

     

    $

    1,388.8

     

     

    $

    1,321.0

     

    Operating expenses:

     

     

     

     

     

     

     

    Compensation and benefits

    128.3

     

     

    122.3

     

     

    257.2

     

     

    243.9

     

    Purchased services

    56.7

     

     

    49.5

     

     

    109.5

     

     

    96.6

     

    Fuel

    87.7

     

     

    85.5

     

     

    170.7

     

     

    166.8

     

    Mexican fuel excise tax credit

     

     

    (8.0

    )

     

     

     

    (17.2

    )

    Equipment costs

    26.3

     

     

    30.7

     

     

    56.7

     

     

    62.9

     

    Depreciation and amortization

    87.7

     

     

    86.3

     

     

    176.2

     

     

    169.6

     

    Materials and other

    68.3

     

     

    70.3

     

     

    131.7

     

     

    133.9

     

    Restructuring charges

    51.0

     

     

     

     

    118.5

     

     

     

    Total operating expenses

    506.0

     

     

    436.6

     

     

    1,020.5

     

     

    856.5

     

    Operating income

    208.0

     

     

    245.8

     

     

    368.3

     

     

    464.5

     

    Equity in net earnings (losses) of affiliates

    (0.2

    )

     

    1.0

     

     

    1.5

     

     

    2.0

     

    Interest expense

    (28.0

    )

     

    (28.0

    )

     

    (56.2

    )

     

    (53.5

    )

    Debt retirement costs

     

     

    (2.2

    )

     

    (0.6

    )

     

    (2.2

    )

    Foreign exchange gain (loss)

    8.3

     

     

    (21.0

    )

     

    12.9

     

     

    6.8

     

    Other income, net

    0.1

     

     

    0.5

     

     

    0.2

     

     

    0.2

     

    Income before income taxes

    188.2

     

     

    196.1

     

     

    326.1

     

     

    417.8

     

    Income tax expense

    59.1

     

     

    47.4

     

     

    93.8

     

     

    124.2

     

    Net income

    129.1

     

     

    148.7

     

     

    232.3

     

     

    293.6

     

    Less: Net income attributable to noncontrolling interest

    0.4

     

     

    0.5

     

     

    0.8

     

     

    0.9

     

    Net income attributable to Kansas City Southern and subsidiaries

    128.7

     

     

    148.2

     

     

    231.5

     

     

    292.7

     

    Preferred stock dividends

     

     

     

     

    0.1

     

     

    0.1

     

    Net income available to common stockholders

    $

    128.7

     

     

    $

    148.2

     

     

    $

    231.4

     

     

    $

    292.6

     

     

     

     

     

     

     

     

     

    Earnings per share:

     

     

     

     

     

     

     

    Basic earnings per share

    $

    1.29

     

     

    $

    1.45

     

     

    $

    2.31

     

     

    $

    2.86

     

    Diluted earnings per share

    $

    1.28

     

     

    $

    1.45

     

     

    $

    2.30

     

     

    $

    2.85

     

     

     

     

     

     

     

     

     

    Average shares outstanding (in thousands):

     

     

     

     

     

     

     

    Basic

    100,028

     

     

    102,092

     

     

    100,264

     

     

    102,332

     

    Potentially dilutive common shares

    394

     

     

    400

     

     

    405

     

     

    401

     

    Diluted

    100,422

     

     

    102,492

     

     

    100,669

     

     

    102,733

     

     

     

     

     

     

     

     

     

    Kansas City Southern and Subsidiaries

    Revenue & Carload/Units by Commodity - Second Quarter 2019 and 2018

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Revenues

     

     

     

    Carloads and Units

     

     

     

    Revenue per

     

     

     

    (in millions)

     

     

     

    (in thousands)

     

     

     

    Carload/Unit

     

     

     

    Second Quarter

     

    %

     

    Second Quarter

     

    %

     

    Second Quarter

     

    %

     

    2019

     

    2018

     

    Change

     

    2019

     

    2018

     

    Change

     

    2019

     

    2018

     

    Change

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Chemical & Petroleum

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Chemicals

    $

    61.6

     

     

    $

    60.4

     

     

    2

    %

     

    25.4

     

     

    26.1

     

     

    (3

    %)

     

    $

    2,425

     

     

    $

    2,314

     

     

    5

    %

    Petroleum

    90.0

     

     

    57.8

     

     

    56

    %

     

    42.9

     

     

    28.1

     

     

    53

    %

     

    2,098

     

     

    2,057

     

     

    2

    %

    Plastics

    36.7

     

     

    39.6

     

     

    (7

    %)

     

    18.6

     

     

    19.4

     

     

    (4

    %)

     

    1,973

     

     

    2,041

     

     

    (3

    %)

    Total

    188.3

     

     

    157.8

     

     

    19

    %

     

    86.9

     

     

    73.6

     

     

    18

    %

     

    2,167

     

     

    2,144

     

     

    1

    %

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Industrial & Consumer Products

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Forest Products

    63.2

     

     

    69.2

     

     

    (9

    %)

     

    26.8

     

     

    31.0

     

     

    (14

    %)

     

    2,358

     

     

    2,232

     

     

    6

    %

    Metals & Scrap

    59.9

     

     

    54.0

     

     

    11

    %

     

    30.4

     

     

    30.3

     

     

     

     

    1,970

     

     

    1,782

     

     

    11

    %

    Other

    27.2

     

     

    29.5

     

     

    (8

    %)

     

    22.0

     

     

    23.7

     

     

    (7

    %)

     

    1,236

     

     

    1,245

     

     

    (1

    %)

    Total

    150.3

     

     

    152.7

     

     

    (2

    %)

     

    79.2

     

     

    85.0

     

     

    (7

    %)

     

    1,898

     

     

    1,796

     

     

    6

    %

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Agriculture & Minerals

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Grain

    73.2

     

     

    75.4

     

     

    (3

    %)

     

    35.9

     

     

    37.7

     

     

    (5

    %)

     

    2,039

     

     

    2,000

     

     

    2

    %

    Food Products

    34.7

     

     

    36.3

     

     

    (4

    %)

     

    14.2

     

     

    14.8

     

     

    (4

    %)

     

    2,444

     

     

    2,453

     

     

     

    Ores & Minerals

    5.8

     

     

    5.8

     

     

     

     

    8.0

     

     

    6.6

     

     

    21

    %

     

    725

     

     

    879

     

     

    (18

    %)

    Stone, Clay & Glass

    8.7

     

     

    7.6

     

     

    14

    %

     

    3.7

     

     

    3.5

     

     

    6

    %

     

    2,351

     

     

    2,171

     

     

    8

    %

    Total

    122.4

     

     

    125.1

     

     

    (2

    %)

     

    61.8

     

     

    62.6

     

     

    (1

    %)

     

    1,981

     

     

    1,998

     

     

    (1

    %)

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Energy

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Utility Coal

    27.5

     

     

    23.9

     

     

    15

    %

     

    30.4

     

     

    27.0

     

     

    13

    %

     

    905

     

     

    885

     

     

    2

    %

    Coal & Petroleum Coke

    10.1

     

     

    11.2

     

     

    (10

    %)

     

    14.4

     

     

    16.3

     

     

    (12

    %)

     

    701

     

     

    687

     

     

    2

    %

    Frac Sand

    6.7

     

     

    10.5

     

     

    (36

    %)

     

    4.7

     

     

    7.0

     

     

    (33

    %)

     

    1,426

     

     

    1,500

     

     

    (5

    %)

    Crude Oil

    9.6

     

     

    10.9

     

     

    (12

    %)

     

    5.2

     

     

    7.0

     

     

    (26

    %)

     

    1,846

     

     

    1,557

     

     

    19

    %

    Total

    53.9

     

     

    56.5

     

     

    (5

    %)

     

    54.7

     

     

    57.3

     

     

    (5

    %)

     

    985

     

     

    986

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Intermodal

    92.6

     

     

    93.7

     

     

    (1

    %)

     

    244.6

     

     

    251.2

     

     

    (3

    %)

     

    379

     

     

    373

     

     

    2

    %

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Automotive

    70.9

     

     

    67.3

     

     

    5

    %

     

    42.7

     

     

    42.5

     

     

     

     

    1,660

     

     

    1,584

     

     

    5

    %

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    TOTAL FOR COMMODITY GROUPS

    678.4

     

     

    653.1

     

     

    4

    %

     

    569.9

     

     

    572.2

     

     

     

     

    $

    1,190

     

     

    $

    1,141

     

     

    4

    %

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Other Revenue

    35.6

     

     

    29.3

     

     

    22

    %

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    TOTAL

    $

    714.0

     

     

    $

    682.4

     

     

    5

    %

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Kansas City Southern and Subsidiaries

    Revenue & Carload/Units by Commodity - Year to Date June 30, 2019 and 2018

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Revenues

     

     

     

    Carloads and Units

     

     

     

    Revenue per

     

     

     

    (in millions)

     

     

     

    (in thousands)

     

     

     

    Carload/Unit

     

     

     

    Year to Date

     

    %

     

    Year to Date

     

    %

     

    Year to Date

     

    %

     

    2019

     

    2018

     

    Change

     

    2019

     

    2018

     

    Change

     

    2019

     

    2018

     

    Change

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Chemical & Petroleum

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Chemicals

    $

    122.1

     

     

    $

    118.1

     

     

    3

    %

     

    50.9

     

     

    52.8

     

     

    (4

    %)

     

    $

    2,399

     

     

    $

    2,237

     

     

    7

    %

    Petroleum

    164.3

     

     

    106.8

     

     

    54

    %

     

    79.4

     

     

    52.1

     

     

    52

    %

     

    2,069

     

     

    2,050

     

     

    1

    %

    Plastics

    70.5

     

     

    72.6

     

     

    (3

    %)

     

    36.0

     

     

    36.8

     

     

    (2

    %)

     

    1,958

     

     

    1,973

     

     

    (1

    %)

    Total

    356.9

     

     

    297.5

     

     

    20

    %

     

    166.3

     

     

    141.7

     

     

    17

    %

     

    2,146

     

     

    2,100

     

     

    2

    %

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Industrial & Consumer Products

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Forest Products

    129.6

     

     

    134.5

     

     

    (4

    %)

     

    54.7

     

     

    60.6

     

     

    (10

    %)

     

    2,369

     

     

    2,219

     

     

    7

    %

    Metals & Scrap

    116.9

     

     

    107.8

     

     

    8

    %

     

    61.1

     

     

    60.0

     

     

    2

    %

     

    1,913

     

     

    1,797

     

     

    6

    %

    Other

    53.6

     

     

    56.7

     

     

    (5

    %)

     

    43.3

     

     

    46.4

     

     

    (7

    %)

     

    1,238

     

     

    1,222

     

     

    1

    %

    Total

    300.1

     

     

    299.0

     

     

     

     

    159.1

     

     

    167.0

     

     

    (5

    %)

     

    1,886

     

     

    1,790

     

     

    5

    %

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Agriculture & Minerals

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Grain

    145.9

     

     

    140.6

     

     

    4

    %

     

    71.4

     

     

    71.2

     

     

     

     

    2,043

     

     

    1,975

     

     

    3

    %

    Food Products

    70.4

     

     

    72.5

     

     

    (3

    %)

     

    29.2

     

     

    29.7

     

     

    (2

    %)

     

    2,411

     

     

    2,441

     

     

    (1

    %)

    Ores & Minerals

    12.3

     

     

    10.7

     

     

    15

    %

     

    16.1

     

     

    11.9

     

     

    35

    %

     

    764

     

     

    899

     

     

    (15

    %)

    Stone, Clay & Glass

    16.7

     

     

    14.7

     

     

    14

    %

     

    7.1

     

     

    6.7

     

     

    6

    %

     

    2,352

     

     

    2,194

     

     

    7

    %

    Total

    245.3

     

     

    238.5

     

     

    3

    %

     

    123.8

     

     

    119.5

     

     

    4

    %

     

    1,981

     

     

    1,996

     

     

    (1

    %)

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Energy

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Utility Coal

    60.0

     

     

    53.2

     

     

    13

    %

     

    63.9

     

     

    57.0

     

     

    12

    %

     

    939

     

     

    933

     

     

    1

    %

    Coal & Petroleum Coke

    20.6

     

     

    21.4

     

     

    (4

    %)

     

    29.5

     

     

    29.7

     

     

    (1

    %)

     

    698

     

     

    721

     

     

    (3

    %)

    Frac Sand

    14.7

     

     

    21.6

     

     

    (32

    %)

     

    10.4

     

     

    14.1

     

     

    (26

    %)

     

    1,413

     

     

    1,532

     

     

    (8

    %)

    Crude Oil

    23.2

     

     

    21.6

     

     

    7

    %

     

    11.7

     

     

    14.0

     

     

    (16

    %)

     

    1,983

     

     

    1,543

     

     

    29

    %

    Total

    118.5

     

     

    117.8

     

     

    1

    %

     

    115.5

     

     

    114.8

     

     

    1

    %

     

    1,026

     

     

    1,026

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Intermodal

    172.5

     

     

    184.6

     

     

    (7

    %)

     

    465.5

     

     

    494.2

     

     

    (6

    %)

     

    371

     

     

    374

     

     

    (1

    %)

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Automotive

    128.5

     

     

    127.1

     

     

    1

    %

     

    79.3

     

     

    82.3

     

     

    (4

    %)

     

    1,620

     

     

    1,544

     

     

    5

    %

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    TOTAL FOR COMMODITY GROUPS

    1,321.8

     

     

    1,264.5

     

     

    5

    %

     

    1,109.5

     

     

    1,119.5

     

     

    (1

    %)

     

    $

    1,191

     

     

    $

    1,130

     

     

    5

    %

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Other Revenue

    67.0

     

     

    56.5

     

     

    19

    %

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    TOTAL

    $

    1,388.8

     

     

    $

    1,321.0

     

     

    5

    %

     

     

     

     

     

     

     

     

     

     

     

     

     



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    Kansas City Southern Reports Record Second Quarter Results Kansas City Southern (KCS) (NYSE:KSU) reported record revenues of $714 million, an increase of 5% from second quarter 2018. Overall, carload volumes were flat compared to prior year. Revenue growth for the second quarter of 2019 was led by a 19% …