KANSAS CITY, Mo.–(BUSINESS WIRE)–Kansas City Southern (KCS) (NYSE:KSU) reported revenues of $659.6 million, a decrease of 12% from third quarter 2019. Overall, carload volumes were down 4% compared to prior year.

Third Quarter 2020

Third quarter revenues were $659.6 million, a decrease of 12% primarily resulting from lower volumes driven by a decline in demand due to COVID-19 and lower commodity prices, lower fuel surcharge, and unfavorable foreign currency impacts.

Third quarter operating expenses were $388.1 million. Operating income was $271.5 million and the reported operating ratio was 58.8%. Third quarter net income was $190.2 million, or $2.01 per diluted share. Adjusted third quarter operating income, net income and diluted earnings per share were as follows:

(in millions, except operating ratio and diluted earnings per share)

 

Three Months Ended September 30, 2020

 

 

Operating Income

 

Operating Ratio

 

Net Income

 

Diluted Earnings per Share

GAAP Operating Results

 

$

271.5

 

 

58.8

%

 

$

190.2

 

 

$

2.01

 

Adjustments, Net

 

0.5

 

 

 

 

(4.7

)

 

(0.05

)

Adjusted Operating Results (non-GAAP)

 

$

272.0

 

 

58.8

%

 

$

185.5

 

 

$

1.96

 

 

 

 

 

 

 

 

 

 

See following pages for reconciliations to GAAP

 

 

 

 

 

 

 

 

As KCS’ outlook improves, the Company has updated and improved elements of its 2020 guidance. The Company now expects adjusted diluted earnings per share to be slightly higher on a year over year basis, and full-year 2020 adjusted operating ratio to be on the low end of the 60% to 61% range. Additionally, previously provided 2020 capital expenditure guidance remains $425.0 million or below. Guidance for 2021 and 2022 capital expenditures remains at ~17% of revenue. Finally, the Company expects free cash flow to be approximately $550 million in 2020. See the following pages for a reconciliation of historical free cash flow.

The Company intends to enter into accelerated share repurchase agreements on or around October 16, 2020 for the repurchase of approximately $500 million of its outstanding shares of common stock. This will be executed under the Company’s $2 billion share repurchase program announced on November 12, 2019.

Kansas City Southern’s strong third quarter results demonstrate the Company’s resiliency and the tremendous discipline and focus of our workforce,” stated President and Chief Executive Officer, Patrick J. Ottensmeyer. “Our service was tested this quarter with an unprecedented volume recovery and two hurricanes that struck the heart of our network. KCS responded by steadfastly executing the lessons learned in its Precision Scheduled Railroading (PSR) implementation, which included aligning resources with rapidly increasing demand while maintaining a keen focus on preserving efficiencies created from PSR principles.

Our performance this year has been remarkable given the challenges we have faced. This strong and sustainable operational performance has given us confidence to reintroduce elements of our guidance. Our outlook has improved for adjusted operating ratio, free cash flow and adjusted diluted earnings per share, and the Company is positioned to deliver superior growth and customer service.

It is from this position of solid financial performance, confidence in the sustainability of our operations, outlook for our business and our outstanding liquidity and financial position that we announce our intent to enter into a new $500 million accelerated share repurchase.”

Statement Regarding Non-GAAP Financial Measures

In addition to disclosing financial results in accordance with U.S. GAAP, the accompanying third quarter 2020 earnings release contains non-GAAP financial measures. KCS management believes that certain non-GAAP financial measures used to review and in certain cases manage the Company’s business fall within the meaning of Regulation G (Disclosure of non-GAAP financial measures) and may provide its users of the financial information with additional meaningful comparison when reviewing the Company’s results. KCS management uses non-GAAP information in its planning and forecasting processes and to further analyze its own financial trends and operational performance, as well as making financial comparisons to prior periods presented on a similar basis. Management believes investors and users of the Company’s financial information should consider all of the above factors when evaluating KCS’s results.

These non-GAAP measures should be viewed as a supplement and not considered a substitute for GAAP measures. Some of KCS’s non-GAAP measures may differ from similar measures used by other companies, even if similar terms are used to identify such measures.

GAAP Reconciliations

($ in millions, except per share amounts)

 

Reconciliation of Diluted Earnings per Share to

 

 

 

Adjusted Diluted Earnings per Share

Three Months Ended September 30, 2020

 

Income Before Income Taxes

 

Income Tax Expense

 

Net Income

 

Diluted Earnings per Share

As reported

$

238.7

 

 

$

48.5

 

 

$

190.2

 

 

 

$

2.01

 

Adjustments for:

 

 

 

 

 

 

 

Restructuring charges

0.5

 

 

0.1

 

 

0.4

 

 

 

 

Foreign exchange gain

(7.7

)

 

(2.3

)

 

(5.4

)

 

 

(0.05

)

Foreign exchange component of income taxes

 

 

(0.3

)

 

0.3

 

 

 

 

Adjusted

$

231.5

 

 

$

46.0

 

 

185.5

 

 

 

 

 

 

 

 

 

 

 

 

Less: Noncontrolling interest and preferred stock dividends

 

 

 

 

(0.5

)

 

 

 

 

 

 

 

 

 

 

 

Adjusted net income available to common stockholders – see (a) below

 

 

 

 

$

185.0

 

 

 

$

1.96

 

 

Three Months Ended September 30, 2019

 

Income Before Income Taxes

 

Income Tax Expense

 

Net Income

 

Diluted Earnings per Share

As reported

$

254.8

 

 

$

74.2

 

 

$

180.6

 

 

$

1.81

 

Adjustments for:

 

 

 

 

 

 

 

Restructuring charges

12.0

 

 

3.2

 

 

8.8

 

 

0.09

 

Foreign exchange loss

3.4

 

 

1.0

 

 

2.4

 

 

0.02

 

Foreign exchange component of income taxes

 

 

(2.3

)

 

2.3

 

 

0.02

 

Adjusted

$

270.2

 

 

$

76.1

 

 

194.1

 

 

 

 

 

 

 

 

 

 

 

Less: Noncontrolling interest and preferred stock dividends

 

 

 

 

(0.5

)

 

 

 

 

 

 

 

 

 

 

Adjusted net income available to common stockholders – see (a) below

 

 

 

 

$

193.6

 

 

$

1.94

 

GAAP Reconciliations (continued)

($ in millions)

 

Reconciliation of Operating Expenses to Adjusted

Three Months Ended

 

Nine Months Ended

Operating Expenses

September 30,

 

September 30,

 

2020

 

2019

 

2020

 

2019

Operating expenses as reported

$

388.1

 

 

 

$

465.7

 

 

 

$

1,198.5

 

 

 

$

1,486.2

 

 

Adjustment for restructuring charges

(0.5

)

 

 

(12.0

)

 

 

(17.0

)

 

 

(130.5

)

 

Adjusted operating expenses – see (b) below

$

387.6

 

 

 

$

453.7

 

 

 

$

1,181.5

 

 

 

$

1,355.7

 

 

 

 

 

 

 

 

 

 

Operating income as reported

$

271.5

 

 

 

$

282.0

 

 

 

$

740.7

 

 

 

$

650.3

 

 

Adjusted operating income – see (b) below

272.0

 

 

 

294.0

 

 

 

757.7

 

 

 

780.8

 

 

 

 

 

 

 

 

 

 

Operating ratio (c) as reported

58.8

 

%

 

62.3

 

%

 

61.8

 

%

 

69.6

 

%

Adjusted operating ratio – see (b) and (c) below

58.8

 

%

 

60.7

 

%

 

60.9

 

%

 

63.5

 

%

Free Cash Flow

 

Nine Months Ended

 

 

 

September 30,

 

 

 

2020

 

2019

 

Net cash provided by operating activities

$

819.9

 

 

 

$

858.8

 

 

 

Net cash used for investing activities

(413.2

)

 

 

(540.3

)

 

 

Free cash flow – see (d) below

$

406.7

 

 

 

$

318.5

 

 

 

(a)

The Company believes adjusted diluted earnings per share is meaningful as it allows investors to evaluate the Company’s performance for different periods on a more comparable basis by adjusting for the impact of changes in foreign currency exchange rates, and items that are not directly related to the ongoing operations of the Company. The income tax expense impacts related to these adjustments are calculated at the applicable statutory tax rate.

(b)

The Company believes adjusted operating expenses, operating income and operating ratio are meaningful as they allow investors to evaluate the Company’s performance for different periods on a more comparable basis by adjusting for items that are not directly related to the ongoing operations of the Company.

(c)

Operating ratio is calculated by dividing operating expenses by revenues; or in the case of adjusted operating ratio, adjusted operating expenses divided by revenues.

(d)

The Company believes free cash flow is a useful measure of liquidity as it demonstrates the Company’s ability to generate cash for debt obligations, dividend payments, share repurchases, and other strategic opportunities. Free cash flow is considered a non-GAAP financial measure under SEC Regulation G and Regulation S-K Item 10(e). As such, free cash flow does not have any standardized meaning prescribed by GAAP and therefore, may not be comparable to similar measures presented by other companies. Free cash flow is defined as cash provided by operating activities less cash used in investing activities. A reconciliation for the Company’s target free cash flow for 2020 is not provided because, as a forward-looking statement, it is not available without unreasonable efforts. The Company believes the information provided is useful to investors as a measure of liquidity that can be considered together with the Company’s historical disclosures of this measure.

Investor Conference Call and Webcast

KCS will also hold its third quarter 2020 earnings conference call on Friday, October 16, 2020 at 8:45 a.m. eastern time. Shareholders and other interested parties are invited to participate via live webcast or telephone. To participate in the live webcast and to view accompanying presentation materials, please log into investors.kcsouthern.com immediately prior to the presentation. To join the teleconference, please call (844) 308-6428 from the U.S., or (412) 317-5409 from all other countries.

A replay of the presentation will be available by calling (877) 344-7529 from the U.S., (855) 669-9658 from Canada or (412) 317-0088 from all other countries and entering conference ID 10147562. The webcast replay and presentation materials will be archived on the company’s website.

About Kansas City Southern

Headquartered in Kansas City, Mo., Kansas City Southern (KCS) (NYSE: KSU) is a transportation holding company that has railroad investments in the U.S., Mexico and Panama. Its primary U.S. holding is The Kansas City Southern Railway Company, serving the central and south central U.S. Its international holdings include Kansas City Southern de Mexico, S.A. de C.V., serving northeastern and central Mexico and the port cities of Lázaro Cárdenas, Tampico and Veracruz, and a 50 percent interest in Panama Canal Railway Company, providing ocean-to-ocean freight and passenger service along the Panama Canal. KCS’ North American rail holdings and strategic alliances with other North American rail partners are primary components of a unique railway system, linking the commercial and industrial centers of the U.S., Mexico and Canada. More information about KCS can be found at www.kcsouthern.com

Forward-Looking Information

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended and the Private Securities Litigation Reform Act of 1995. In addition, management may make forward-looking statements orally or in other writing, including, but not limited to, in press releases, quarterly earnings calls, executive presentations, in the annual report to stockholders and in other filings with the Securities and Exchange Commission. Readers can usually identify these forward-looking statements by the use of such words as “may,” “will,” “should,” “likely,” “plans,” “projects,” “expects,” “anticipates,” “believes” or similar words. These statements involve a number of risks and uncertainties. Actual results could materially differ from those anticipated by such forward-looking statements as a result of a number of factors or combination of factors including, but not limited: public health threats or outbreaks of communicable diseases, such as the ongoing COVID-19 pandemic and its impact on KCS’s business, suppliers, consumers, customers, employees and supply chains; rail accidents or other incidents or accidents on KCS’s rail network or at KCS’s facilities or customer facilities involving the release of hazardous materials, including toxic inhalation hazards; legislative and regulatory developments and disputes, including environmental regulations; loss of the rail concession of Kansas City Southern’s subsidiary, Kansas City Southern de México, S.A. de C.V.; domestic and international economic, political and social conditions; disruptions to the Company’s technology infrastructure, including its computer systems; increased demand and traffic congestion; the level of trade between the United States and Asia or Mexico; fluctuations in the peso-dollar exchange rate; natural events such as severe weather, hurricanes and floods; the outcome of claims and litigation involving the Company or its subsidiaries; competition and consolidation within the transportation industry; the business environment in industries that produce and use items shipped by rail; the termination of, or failure to renew, agreements with customers, other railroads and third parties; fluctuation in prices or availability of key materials, in particular diesel fuel; access to capital; climate change and the market and regulatory responses to climate change; dependency on certain key suppliers of core rail equipment; changes in securities and capital markets; unavailability of qualified personnel; labor difficulties, including strikes and work stoppages; acts of terrorism or risk of terrorist activities, war or other acts of violence; and other factors affecting the operation of the business; and other risks identified in this news release, in KCS’s Annual Report on Form 10-K for the year ended December 31, 2019, and in other reports filed by KCS with the Securities and Exchange Commission.

Forward-looking statements reflect the information only as of the date on which they are made. KCS does not undertake any obligation to update any forward-looking statements to reflect future events, developments, or other information.

 

 

 

 

 

 

 

 

Kansas City Southern and Subsidiaries

Consolidated Statements of Income

(In millions, except share and per share amounts)

(Unaudited)

 

Three Months Ended

 

Nine Months Ended

 

September 30,

 

September 30,

 

2020

 

2019

 

2020

 

2019

Revenues

$

659.6

 

 

$

747.7

 

 

$

1,939.2

 

 

$

2,136.5

 

Operating expenses:

 

 

 

 

 

 

 

Compensation and benefits

117.4

 

 

134.8

 

 

354.6

 

 

392.0

 

Purchased services

47.3

 

 

53.4

 

 

145.2

 

 

162.9

 

Fuel

50.8

 

 

87.1

 

 

165.2

 

 

257.8

 

Equipment costs

23.9

 

 

25.1

 

 

63.9

 

 

81.8

 

Depreciation and amortization

89.2

 

 

86.5

 

 

267.9

 

 

262.7

 

Materials and other

59.0

 

 

66.8

 

 

184.7

 

 

198.5

 

Restructuring charges

0.5

 

 

12.0

 

 

17.0

 

 

130.5

 

Total operating expenses

388.1

 

 

465.7

 

 

1,198.5

 

 

1,486.2

 

Operating income

271.5

 

 

282.0

 

 

740.7

 

 

650.3

 

Equity in net earnings (losses) of affiliates

(1.3

)

 

2.1

 

 

(0.1

)

 

3.6

 

Interest expense

(39.5

)

 

(27.9

)

 

(111.8

)

 

(84.1

)

Debt retirement costs

 

 

 

 

 

 

(0.6

)

Foreign exchange gain (loss)

7.7

 

 

(3.4

)

 

(44.0

)

 

9.5

 

Other income, net

0.3

 

 

2.0

 

 

2.5

 

 

2.2

 

Income before income taxes

238.7

 

 

254.8

 

 

587.3

 

 

580.9

 

Income tax expense

48.5

 

 

74.2

 

 

134.5

 

 

168.0

 

Net income

190.2

 

 

180.6

 

 

452.8

 

 

412.9

 

Less: Net income attributable to noncontrolling interest

0.4

 

 

0.4

 

 

1.5

 

 

1.2

 

Net income attributable to Kansas City Southern and subsidiaries

189.8

 

 

180.2

 

 

451.3

 

 

411.7

 

Preferred stock dividends

0.1

 

 

0.1

 

 

0.2

 

 

0.2

 

Net income available to common stockholders

$

189.7

 

 

$

180.1

 

 

$

451.1

 

 

$

411.5

 

 

 

 

 

 

 

 

 

Earnings per share:

 

 

 

 

 

 

 

Basic earnings per share

$

2.02

 

 

$

1.81

 

 

$

4.76

 

 

$

4.12

 

Diluted earnings per share

$

2.01

 

 

$

1.81

 

 

$

4.74

 

 

$

4.10

 

 

 

 

 

 

 

 

 

Average shares outstanding (in thousands):

 

 

 

 

 

 

 

Basic

93,876

 

 

99,296

 

 

94,672

 

 

99,939

 

Effect of dilution

504

 

 

403

 

 

477

 

 

405

 

Diluted

94,380

 

 

99,699

 

 

95,149

 

 

100,344

 

 

 

 

 

 

 

 

 

Kansas City Southern and Subsidiaries

Revenue & Carload/Units by Commodity – Third Quarter 2020 and 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

 

 

Carloads and Units

 

 

 

Revenue per

 

 

 

(in millions)

 

 

 

(in thousands)

 

 

 

Carload/Unit

 

 

 

Third Quarter

 

%

 

Third Quarter

 

%

 

Third Quarter

 

%

 

2020

 

2019

 

Change

 

2020

 

2019

 

Change

 

2020

 

2019

 

Change

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Chemical & Petroleum

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Chemicals

$

60.1

 

 

$

65.5

 

 

(8

%)

 

24.3

 

 

25.7

 

 

(5

%)

 

$

2,473

 

 

$

2,549

 

 

(3

%)

Petroleum

95.1

 

 

89.1

 

 

7

%

 

48.5

 

 

42.2

 

 

15

%

 

1,961

 

 

2,111

 

 

(7

%)

Plastics

36.7

 

 

39.6

 

 

(7

%)

 

18.7

 

 

19.5

 

 

(4

%)

 

1,963

 

 

2,031

 

 

(3

%)

Total

191.9

 

 

194.2

 

 

(1

%)

 

91.5

 

 

87.4

 

 

5

%

 

2,097

 

 

2,222

 

 

(6

%)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Industrial & Consumer Products

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Forest Products

59.6

 

 

64.3

 

 

(7

%)

 

25.3

 

 

26.6

 

 

(5

%)

 

2,356

 

 

2,417

 

 

(3

%)

Metals & Scrap

41.5

 

 

59.6

 

 

(30

%)

 

25.6

 

 

30.5

 

 

(16

%)

 

1,621

 

 

1,954

 

 

(17

%)

Other

25.3

 

 

32.0

 

 

(21

%)

 

22.8

 

 

24.3

 

 

(6

%)

 

1,110

 

 

1,317

 

 

(16

%)

Total

126.4

 

 

155.9

 

 

(19

%)

 

73.7

 

 

81.4

 

 

(9

%)

 

1,715

 

 

1,915

 

 

(10

%)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Agriculture & Minerals

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Grain

74.6

 

 

78.3

 

 

(5

%)

 

37.8

 

 

37.9

 

 

 

 

1,974

 

 

2,066

 

 

(4

%)

Food Products

38.2

 

 

40.0

 

 

(5

%)

 

15.3

 

 

15.7

 

 

(3

%)

 

2,497

 

 

2,548

 

 

(2

%)

Ores & Minerals

5.5

 

 

6.7

 

 

(18

%)

 

7.7

 

 

8.9

 

 

(13

%)

 

714

 

 

753

 

 

(5

%)

Stone, Clay & Glass

7.0

 

 

8.7

 

 

(20

%)

 

3.2

 

 

3.5

 

 

(9

%)

 

2,188

 

 

2,486

 

 

(12

%)

Total

125.3

 

 

133.7

 

 

(6

%)

 

64.0

 

 

66.0

 

 

(3

%)

 

1,958

 

 

2,026

 

 

(3

%)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Energy

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Utility Coal

28.9

 

 

35.1

 

 

(18

%)

 

32.9

 

 

38.6

 

 

(15

%)

 

878

 

 

909

 

 

(3

%)

Coal & Petroleum Coke

10.2

 

 

11.3

 

 

(10

%)

 

13.5

 

 

13.6

 

 

(1

%)

 

756

 

 

831

 

 

(9

%)

Frac Sand

2.3

 

 

7.4

 

 

(69

%)

 

2.0

 

 

5.3

 

 

(62

%)

 

1,150

 

 

1,396

 

 

(18

%)

Crude Oil

5.4

 

 

11.2

 

 

(52

%)

 

3.1

 

 

7.2

 

 

(57

%)

 

1,742

 

 

1,556

 

 

12

%

Total

46.8

 

 

65.0

 

 

(28

%)

 

51.5

 

 

64.7

 

 

(20

%)

 

909

 

 

1,005

 

 

(10

%)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Intermodal

89.1

 

 

100.5

 

 

(11

%)

 

264.7

 

 

260.2

 

 

2

%

 

337

 

 

386

 

 

(13

%)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Automotive

48.5

 

 

64.8

 

 

(25

%)

 

32.1

 

 

39.2

 

 

(18

%)

 

1,511

 

 

1,653

 

 

(9

%)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TOTAL FOR COMMODITY GROUPS

628.0

 

 

714.1

 

 

(12

%)

 

577.5

 

 

598.9

 

 

(4

%)

 

$

1,087

 

 

$

1,192

 

 

(9

%)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other Revenue

31.6

 

 

33.6

 

 

(6

%)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TOTAL

$

659.6

 

 

$

747.7

 

 

(12

%)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Kansas City Southern and Subsidiaries

Revenue & Carload/Units by Commodity – Year to Date September 30, 2020 and 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

 

 

Carloads and Units

 

 

 

Revenue per

 

 

 

(in millions)

 

 

 

(in thousands)

 

 

 

Carload/Unit

 

 

 

Year to Date

 

%

 

Year to Date

 

%

 

Year to Date

 

%

 

2020

 

2019

 

Change

 

2020

 

2019

 

Change

 

2020

 

2019

 

Change

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Chemical & Petroleum

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Chemicals

$

174.8

 

 

$

187.6

 

 

(7

%)

 

70.1

 

 

76.6

 

 

(8

%)

 

$

2,494

 

 

$

2,449

 

 

2

%

Petroleum

261.5

 

 

253.4

 

 

3

%

 

131.7

 

 

121.6

 

 

8

%

 

1,986

 

 

2,084

 

 

(5

%)

Plastics

112.7

 

 

110.1

 

 

2

%

 

56.2

 

 

55.5

 

 

1

%

 

2,005

 

 

1,984

 

 

1

%

Total

549.0

 

 

551.1

 

 

 

 

258.0

 

 

253.7

 

 

2

%

 

2,128

 

 

2,172

 

 

(2

%)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Industrial & Consumer Products

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Forest Products

186.3

 

 

193.9

 

 

(4

%)

 

76.9

 

 

81.3

 

 

(5

%)

 

2,423

 

 

2,385

 

 

2

%

Metals & Scrap

144.2

 

 

176.5

 

 

(18

%)

 

80.4

 

 

91.6

 

 

(12

%)

 

1,794

 

 

1,927

 

 

(7

%)

Other

75.5

 

 

85.6

 

 

(12

%)

 

67.8

 

 

67.6

 

 

 

 

1,114

 

 

1,266

 

 

(12

%)

Total

406.0

 

 

456.0

 

 

(11

%)

 

225.1

 

 

240.5

 

 

(6

%)

 

1,804

 

 

1,896

 

 

(5

%)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Agriculture & Minerals

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Grain

216.5

 

 

224.2

 

 

(3

%)

 

106.2

 

 

109.3

 

 

(3

%)

 

2,039

 

 

2,051

 

 

(1

%)

Food Products

119.9

 

 

110.4

 

 

9

%

 

47.0

 

 

44.9

 

 

5

%

 

2,551

 

 

2,459

 

 

4

%

Ores & Minerals

16.6

 

 

19.0

 

 

(13

%)

 

22.4

 

 

25.0

 

 

(10

%)

 

741

 

 

760

 

 

(3

%)

Stone, Clay & Glass

21.2

 

 

25.4

 

 

(17

%)

 

9.2

 

 

10.6

 

 

(13

%)

 

2,304

 

 

2,396

 

 

(4

%)

Total

374.2

 

 

379.0

 

 

(1

%)

 

184.8

 

 

189.8

 

 

(3

%)

 

2,025

 

 

1,997

 

 

1

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Energy

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Utility Coal

75.7

 

 

95.1

 

 

(20

%)

 

87.7

 

 

102.5

 

 

(14

%)

 

863

 

 

928

 

 

(7

%)

Coal & Petroleum Coke

31.3

 

 

31.9

 

 

(2

%)

 

43.0

 

 

43.1

 

 

 

 

728

 

 

740

 

 

(2

%)

Frac Sand

7.8

 

 

22.1

 

 

(65

%)

 

6.6

 

 

15.7

 

 

(58

%)

 

1,182

 

 

1,408

 

 

(16

%)

Crude Oil

27.6

 

 

34.4

 

 

(20

%)

 

15.9

 

 

18.9

 

 

(16

%)

 

1,736

 

 

1,820

 

 

(5

%)

Total

142.4

 

 

183.5

 

 

(22

%)

 

153.2

 

 

180.2

 

 

(15

%)

 

930

 

 

1,018

 

 

(9

%)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Intermodal

241.3

 

 

273.0

 

 

(12

%)

 

689.3

 

 

725.7

 

 

(5

%)

 

350

 

 

376

 

 

(7

%)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Automotive

118.0

 

 

193.3

 

 

(39)

%

 

75.9

 

 

118.5

 

 

(36

%)

 

1,555

 

 

1,631

 

 

(5

%)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TOTAL FOR COMMODITY GROUPS

1,830.9

 

 

2,035.9

 

 

(10

%)

 

1,586.3

 

 

1,708.4

 

 

(7

%)

 

$

1,154

 

 

$

1,192

 

 

(3

%)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other Revenue

108.3

 

 

100.6

 

 

8

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TOTAL

$

1,939.2

 

 

$

2,136.5

 

 

(9

%)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Contacts

KCS: Ashley Thorne, 816-983-1530, athorne@kcsouthern.com

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