(Dow Jones Newswires circulated the following on April 27, 2010.)
NEW YORK — Kansas City Southern (KSU) swung to a first-quarter profit, beating analysts’ estimates, as rail volume picked up.
The regional railroad operator’s profit dropped last year on fewer shipments. It’s one of the main railroad operators in Mexico, where business has done better than in the U.S. lately, and also operates in the Midwest.
The company reported profit of $35.3 million, or 34 cents a share, compared with a year-earlier loss of $2.7 million, or 9 cents a share. The latest quarter included 10 cents in debt-retirement costs. Revenue jumped 26% to $436.3 million, in part on higher prices.
Analysts polled by Thomson Reuters were expecting earnings of 31 cents on $412 million in revenue.
Volume jumped 15%, driven by an upswing in manufacturing.
Shares closed Monday at $39.26 and were inactive premarket. The stock was at $16 a year ago.