Kansas City Southern (KSU) Tops Q2 EPS by 7c

Kansas City Southern (NYSE: KSU) reported Q2 EPS of $1.11, $0.07 better than the analyst estimate of $1.04. Revenue for the quarter came in at $569 million versus the consensus estimate of $572.96 million.

“On balance, we were pleased with our second quarter 2016 results, particularly with the positive volume trend experienced during late May and the entire month of June,” stated Kansas City Southern’s President and Chief Executive Patrick J. Ottensmeyer. “KCS’ carloads were up 2% in June and ended unchanged with second quarter a year ago largely due to continued good performance in our Chemical & Petroleum and Agriculture & Minerals business units and a strengthening in our Automotive business late in the quarter.

“Our service was affected for the second consecutive quarter by the impact of flooding in the Houston, Texas area, which resulted in a three-week shut-down of a bridge on the route KCS utilizes for its cross-border traffic. While bridge repairs were being made, KCS had to detour considerable traffic onto other carriers’ routes. Again, we thank our railroad partners for their cooperation, as well as commend KCS transportation personnel for their efforts in keeping our service mostly fluid in the face of significant challenges.”

For earnings history and earnings-related data on Kansas City Southern (KSU) click here.

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