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29 June, 2017 21:33 IST
Kansas City Southern first-quarter profit jumps 35.99 percent on a YOY basis
Source: IRIS | 21 Apr, 2017, 06.59PM

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Kansas City Southern (KSU) has reported 35.99 percent jump in profit for the quarter ended Mar. 31, 2017. The company has earned $146.60 million, or $1.38 a share in the quarter, compared with $107.80 million, or $0.99 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $124.10 million, or $1.17 a share compared with $111.30 million or $1.03 a share, a year ago. 

Revenue during the quarter grew 8.32 percent to $609.50 million from $562.70 million in the previous year period. Gross margin for the quarter expanded 31 basis points over the previous year period to 76.42 percent. Total expenses were 65.43 percent of quarterly revenues, down from 66.61 percent for the same period last year. This has led to an improvement of 118 basis points in operating margin to 34.57 percent.

Operating income for the quarter was $210.70 million, compared with $187.90 million in the previous year period.

"Kansas City Southern is pleased with the return of year-over-year revenue and volume growth in first quarter 2017," stated Kansas City Southern’s president and chief executive officer Patrick J. Ottensmeyer. "We all remain focused on operational improvements and longer-term growth drivers and are excited to see some of these opportunities, such as refined products movements, materialize in 2017."

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