Kansas City Southern Q3 Profit Rises, Results Beat View - Quick Facts

(RTTNews) - Kansas City Southern (KSU), a transportation holding company, reported an increase in profit for the third quarter from last year on higher revenues. Both revenue and adjusted earnings per share beat analysts' estimates.

The company's net income for the third quarter was $129.2 million or $1.23 per diluted share, up from $120.5 million or $1.12 per share in the year-ago period.

Excluding the impacts of foreign exchange rate fluctuations, adjusted earnings for the quarter was $1.35 per share, compared to $1.12 per share in the prior-year quarter.

On average, eighteen analysts polled by by Thomson Reuters expected the company to earn $1.31 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter rose 9 percent to $656.6 million from $604.5 million in the same period last year. Analysts had a consensus revenue estimate of $650.77 million.

Carloads increased 3 percent in the quarter.

"KCS' third quarter financial results were strong, even with the impact of Hurricane Harvey on KCS' U.S. Gulf Coast and cross-border traffic in August and September. Despite the severity of the storm and widespread flooding, we recovered quickly from the extended service outage, delivering record third quarter operating income, operating ratio and adjusted earnings per share," President and Chief Executive Officer Patrick Ottensmeyer stated.