Categories Earnings

Kansas City Southern Q2 earnings tops estimates

Railroad operator Kansas City Southern (KSU) reported 16% jump in earnings, which topped analysts forecasts, aided by the strong performance from Chemical & Petroleum and automotive divisions. However, sales increase of 4% to $682 million failed to meet Street’s estimates. Shares of the company, which dropped 1% in the pre-market trading, turned into green in the morning trading session.

Profit jumped 10% to $148.2 million compared to $134.4 million reported last year and negative growth recorded in the first quarter. Volumes saw a modest increase of 1% while the operating ratio rose modestly to 64%. Energy division, excluding crude oil, saw a double-digit dip in volumes mainly due to the closure of Texas facility in January, offset by 12% jump in Auto division.

Fuel expenses rose 8.4% due to increasing oil prices, which is expected to increase in the second half of the year also. The company expects volumes to bump up in the second half of the year due to strong macro factors coupled with ongoing capacity expansions, which would augur well for the upcoming quarters.

Kansas City Southern second quarter 2018 earnings

Most Popular

Earnings calendar for the week of March 8

On the heels of lawmakers moving closer to passing the stimulus bill, inflations concerns gripped the market after Federal Reserve chief Jerome Powell at a meeting said the reopening would

Why Costco’s (COST) growth prospects might depend on beating costs, digital lag

Though the retail boom triggered by the pandemic was estimated to be short-lived initially, the shopping spree continued as customers stocked up on essential items, concerned about the persistent market

Gap (GPS) hopes to see a favorable recovery by the second half of 2021

Shares of Gap Inc. (NYSE: GPS) were up 5.8% in afternoon hours on Friday. The stock has gained 103% over the past 12 months. Gap reported mixed results for the

Tags

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top