Kansas City Southern profit up sharply
Kansas City Southern said it had second quarter net profit of $37.4 million compared to $7.1 million in the same 2009 period.
Second quarter revenue was $461.6 million, a 35 percent increase compared to the corresponding 2009 period.
The company said revenue growth was strong across the board when compared to second quarter 2009, which was the weakest revenue quarter during the recent economic downturn.
Automotive revenue nearly quadrupled, 292 percent over second quarter 2009 on increased auto production in Mexico. Intermodal revenue increased 54 percent from the same period last year from business on new lanes and growth on existing routes. Other period-over-period revenue improvements were 42 percent for agriculture and minerals; 31 percent for industrial and consumer products; 25 percent for coal; and 18 percent for chemical and petroleum.