Kansas City Southern Q1 Profit Beats View, Revenue Misses - Quick Facts

(RTTNews) - Kansas City Southern (KSU), a transportation holding company, reported Tuesday that its first-quarter net income totaled $108.1 million or $0.99 per share, higher than last year's $101.2 million or $0.91 per share a year ago.

Excluding the impacts of foreign exchange rate fluctuations and 2015 lease termination costs, adjusted earnings were $111.3 million, compared to $113.9 million last year, and adjusted earnings per share were $1.03 per share, same as last year.

On average, 19 analysts polled by Thomson Reuters expected earnings of $0.97 per share for the quarter. Analysts' estimates typically exclude special items.

Operating income of $188 million was 5 percent higher than a year ago. Adjusted operating income was flat compared to first quarter 2015.

Kansas City's revenues declined 7 percent to $562.7 million from prior year's $603.1 million. Analysts were looking for revenues of $566.22 million.

Excluding the estimated impacts of Mexican peso depreciation and lower U.S. fuel prices, revenue declined 1 percent.

Overall, carload volumes were 5 percent lower than in first quarter 2015.

KCS Chief Executive Officer David Starling said, "Despite flooding that shut down key portions of our U.S. rail network for over three weeks, KCS delivered solid earnings and operating results. That we overcame this very significant challenge while simultaneously scaling costs across the network clearly demonstrates KCS' ability to react quickly to rapid and unexpected changes to its operating environment."