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Rail News: Financials
The Class Is now are seven-for-seven when it comes to banner second-quarter financial results. Yesterday, Kansas City Southern — the last large road to report results — announced its quarterly revenue rose 8.4 percent to $413.1 million and operating ratio improved 3 points to 81.2 compared with second-quarter 2005.
The revenue jump was driven by rate and fuel surcharge increases, and coal, chemical and petroleum product traffic gains.
In addition, the railroad earned operating income of $77.5 million compared with an $8.3 million loss during the same 2005 period and reduced operating expenses 13.8 percent to $335.6 million. Net income available to common shareholders totaled $19.2 million compared with a $27.3 million net loss in second-quarter 2005.
“Stronger second-quarter earnings and improved operations demonstrate the continued progress KCS is making toward integrating its U.S. and Mexican rail operations,” said KCS Chairman and Chief Executive Officer Mike Haverty in a prepared statement. "We expect our financial performance to continue to improve throughout the second half of 2006.”
8/3/2006
Rail News: Financials
KCS boosts revenue and income, reduces operating ratio
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The Class Is now are seven-for-seven when it comes to banner second-quarter financial results. Yesterday, Kansas City Southern — the last large road to report results — announced its quarterly revenue rose 8.4 percent to $413.1 million and operating ratio improved 3 points to 81.2 compared with second-quarter 2005.
The revenue jump was driven by rate and fuel surcharge increases, and coal, chemical and petroleum product traffic gains.
In addition, the railroad earned operating income of $77.5 million compared with an $8.3 million loss during the same 2005 period and reduced operating expenses 13.8 percent to $335.6 million. Net income available to common shareholders totaled $19.2 million compared with a $27.3 million net loss in second-quarter 2005.
“Stronger second-quarter earnings and improved operations demonstrate the continued progress KCS is making toward integrating its U.S. and Mexican rail operations,” said KCS Chairman and Chief Executive Officer Mike Haverty in a prepared statement. "We expect our financial performance to continue to improve throughout the second half of 2006.”
