(Reuters circulated the following article on May 2.)
CHICAGO — U.S. railroad Kansas City Southern said on Tuesday that quarterly net profit rose on the year on higher margins, improved service, fuel surcharges and a strong pricing environment.
The earnings results came in above analyst expectations.
The Kansas City, Missouri-based company said its first quarter profit totaled $8 million, or 11 cents a share, compared with $7 million, or 9 cents a share, a year earlier.
Wall Street analysts had expected earnings per share of 6 cents, according to Reuters Estimates.
The company said that revenue in the first quarter rose more than 5 percent to $388.4 million.
Analysts had forecast revenue for the quarter of $397 million.
Kansas City Southern Chief Executive Officer Michael Haverty said in statement that during the first quarter “our operating metrics…improved significantly and began to translate into greater bottom line profits.”