(The following report appeared on the Kansas City Star website on October 25.)
KANSAS CITY — Kansas City Southern today said strong freight volumes and favorable pricing helped produce a 58-percent increase in profit during its third quarter.
In a release before markets opened, the railroad holding company reported net income of $41.8 million, or 48 cents a share, up from $26.4 million, or 32 cents, last year.
Revenue increased 6.8 percent to $444.1 million from $415.7 million a year ago.
Following earlier reports from its peers in the rail segment, Wall Street analysts said they expected Kansas City Southern’s third-quarter results to be among the segment’s strongest, and today’s results easily beat analysts’ estimates of earnings per share of 37 cents and revenue of $432.64 million.