KANSAS CITY, Mo. — Railway operator Kansas City Southern Industries Inc. on Thursday said quarterly earnings tripled as investment earnings rose while operating and interest expenses fell.
The company, which controls several railroads in North America, reported net income of $14.5 million, or 23 cents a share, for the second quarter, compared with $4.7 million, or 8 cents a share, a year earlier.
Revenue declined to $137.9 million from $143.2 million, mainly due to lower coal transport rates and the loss of a coal client, Kansas City Southern said.
Rate increases in other groups and some favorable changes in traffic patterns and volume helped offset those declines, the company said.