Operating income for the railroad increased 12 percent, and the operating ratio rose 1.5 points.
By sector, energy revenues increased by 26 percent and automotive rose by 20 percent. Intermodal revenues were up 13 percent, and chemicals and industrial revenues increased 11 percent and 4 percent, respectively. Due to the drought in the Midwest, agricultural revenues declined 18 percent.
“In addition to the company’s solid topline performance during the second quarter, KCS took advantage of its recent upgrade to investment grade status and a historically low interest rate environment to refinance approximately $1.2 billion of corporate debt,” KCS David Starling said in a statement, adding that this gives the company enhanced financial flexibility in the future. – Jon Ross
Freight Fraud Symposium
Double brokering. AI deepfakes. Identity theft. Freight fraud is an existential threat to the industry. Get ahead of it.
Supply Chain AI Symposium
Past the hype. Join operators, founders, and enterprise leaders figuring out how to deploy AI in supply chain.
Future of Rail Symposium
Reshoring is rewriting freight demand. Join shippers, rail executives, and government officials to shape the next decade.
Double brokering. AI deepfakes. Identity theft. Freight fraud is an existential threat to the industry. Get ahead of it.
Rock & Roll Hall of Fame • Cleveland, OH Register NowPast the hype. Join operators, founders, and enterprise leaders figuring out how to deploy AI in supply chain.
The Old Post Office • Chicago, IL Register NowReshoring is rewriting freight demand. Join shippers, rail executives, and government officials to shape the next decade.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now