KC Southern Posts Record Q1 Revenues

Kansas City Southern had some good news during COVID-19 times. The railroad transportation-holding company reported record revenues of $731.7 million, up eight percent year over year.

The gains were led by and 18 percent increase in chemical and petroleum shipments, due mainly to increased refined fuel products and liquid petroleum gas shipments to Mexico. Intermodal revenues also grew 11 percent, driven primarily by strong cross-border shipments.

“As pleased as we are with this exceptional performance, we have now turned our full attention to the rapidly changing operating and economic environment,” said KCS President and CEO Patrick J. Ottensmeyer. “The COVID-19 pandemic presents KCS and companies across the globe with unprecedented challenges and uncertainty. We are responding by prioritizing the safety of our employees and ensuring business continuity.”

KCS net income for the quarter came in at $152.3 million, up from $103.2 million during the same year-ago period.

Ottensmeyer says that the company has “ample liquidity” to make it through the challenging economic times its industry faces.