Kansas City Southern (KCS) has reported full year results for 2019. Year-end revenues totalled $2.9bn, up 6% year-over-year. Operating income was $886.3m. Net income was $540.8m, down from $629.4m the previous year.
By vertical sector, KCS experienced carload volume growth in Chemical & Petroleum, Intermodal, Industrial & Consumer Products and Automotive, up 6%, 5%, 5% and 11% respectively. However, there were declines in Agriculture & Minerals (5%) and Energy (-6%).
President and Chief Executive Officer Patrick J. Ottensmeyer, stated, “These strong results have allowed us to improve guidance, and we now expect to deliver a 60% to 61% operating ratio in 2020, and below 60% in 2021. Additionally, we have improved our outlook for earnings per share growth to a mid-teens CAGR from 2019 through 2021. Finally, with improved asset utilisation, we have reduced our outlook for capital expenditures to ~17% of revenue through 2022.”
Source: Kansas City Southern
