All fields are required.
Kansas City Southern today reported fourth-quarter 2016 net income of $130 million, or $1.21 per diluted share, compared with $140 million, or $1.28 per diluted share, in fourth-quarter 2015. Adjusted diluted earnings per share came in at $1.12 for Q4 2016, down from $1.23 in Q4 2015, KCS officials said in a press release.The Class I's revenue of $599 million for the quarter remained unchanged from the same period a year ago, they said.Overall, carload volumes also were unchanged in the quarter compared with the prior year. Excluding the estimated impact of Mexican peso depreciation, revenue would have increased 3 percent compared with revenue in Q4 2015, KCS officials said.Operating income during Q4 2016 fell 4 percent to $211 million compared with Q4 2015. KCS' operating ratio for the quarter was 64.8 percent, a 1.4 point increase from Q4 2015.Operating expenses during the quarter rose 2 percent to $388 million compared with the year-ago quarter.KCS' quarterly results missed Wall Street analysts' expectations for earnings and revenue.For the full year 2016, net income totaled $480 million, or $4.43 per diluted share, compared with $485 million, or $4.40 per diluted share, in the previous year. Adjusted diluted earnings per share were $4.48 compared with $4.49 in 2015.KCS posted $2.3 billion in revenue for full-year 2016, down 3 percent compared with 2015's revenue. Carloads declined 2 percent to 2.17 million during the year compared with the previous year. Operating income for all of 2016 rose 2 percent to $819 million. The 2016 operating ratio was 64.9 percent, a 1.9 point improvement from 2015's operating ratio and a 1.5 point improvement from the prior year's adjusted operating ratio."KCS' ability to react swiftly and efficiently was proven throughout 2016, as our network faced challenging operational interruptions throughout the year. In addition, volatility in key commodities such as energy, consumer, and intermodal markets created uncertainty during 2016," said KCS President and Chief Executive Officer Patrick Ottensmeyer. "Despite these conditions, KCS' achieved a full-year operating ratio of 64.9 percent, a 1.5 point improvement versus 2015 adjusted."The company is aware of the economic and political uncertainty ahead in 2017, Ottensmeyer said."However, we continue to emphasize our commitment to growth and we are well positioned to take full advantage of the significant new business opportunities that lie ahead of us." he added.
FTA allows Minneapolis Blue Line extension to advance »
BNSF budgets $3.4 billion for 2017 capex plan »
CSX comments on Harrison takeover reports »
U.S. railroads log traffic increase in 2017's second week »