Kansas City Southern (NYSE: KSU) reported second-quarter earnings of $1.64 per share, which beat the analyst consensus estimate of $1.61 by 1.86%. This is a 6.49% increase over earnings of $1.54 per share from the same period last year.
The company reported quarterly sales of $714 million, which beat the analyst consensus estimate of $706.23 million by 1.10%. This is a 4.63% increase over sales of $682.4 million the same period last year.
"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," said President and CEO Patrick 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."
Kansas City Southern shares were trading at $118 in Friday’s pre-market session. The stock has a 52-week high of $125.92 and a 52-week low of $90.55.
Earnings Scheduled For July 19, 2019
Citi Notes Kansas City Southern Gets About 40% Of Sales From Border Traffic
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