Kansas City Southern earnings for the second quarter of 2019 have KSU stock stock taking off on Friday.
Kansas City Southern (NYSE:KSU) reported earnings per share of $1.64 for the second quarter of the year. This is up 6% from the company’s earnings per share of $1.54 from the same period of the year prior. It was also a boon to KSU stock by beating out Wall Street’s earnings per share estimate of $1.61 for the quarter.
The Kansas City Southern earnings report for the second quarter of 2019 also includes net income of $129.10 million. That’s a drop from the company’s net income of $148.70 million reported in the second quarter of 2018.
Kansas City Southern earnings for the second quarter of the year have operating income coming in at $208.00 million. This is a decrease from the railroad company’s operating income of $245.80 million reported during the same time last year.
Revenue reported in the Kansas City Southern earnings report for the second quarter of 2019 was $714.00 million. This is better than the company’s revenue of $682.40 million reported in the second quarter of the previous year. It was also a blessing to KSU stock by coming in well above analysts’ revenue estimate of $706.23 million for the period.
There were a few reasons for the strong revenue growth in the second quarter of the year. This includes more shipments in the Chemicals and Petroleum categories in connection to the Mexico energy reform. The railroad company also saw Automotive revenue for the quarter increase by 5%.
KSU stock was up 3% as of Friday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.
Article printed from InvestorPlace Media, https://investorplace.com/2019/07/kansas-city-southern-earnings-boost-stock/.
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