JOC Staff | Jan 22, 2013 9:57AM EST
Kansas City Southern Railway reported its income in the fourth quarter of 2012 was $91.8 million, dropping from $95.6 million in the fourth quarter of 2011.
Revenue in the fourth quarter was a record $568.4 million, rising 7 percent year-over-year from $530.3 million. The revenue growth was primarily driven by increases in automotive, chemical and petroleum and intermodal.
Quarterly carloads of about 531,700, also a record, increased 2 percent from 2011’s fourth quarter. Intermodal accounted for approximately 234,800 of those carloads, a 7 percent increase from 2011.
For the full year of 2012, profit was $377.1 million, rising from $328.7 million in 2011. Yearly revenue was a record $2.2 billion, up 7 percent from 2011. Carloads for 2012 were 2.1 million, an increase of 5 percent from the previous year. Intermodal accounted for about 914,200 of those carloads, a 14 percent increase from 2011.
“Despite the impact on our coal franchise of an unseasonably warm winter and low natural gas prices, the effect on our grain carloadings of one of the most severe droughts in U.S. history and finally, the dampening effect on overall economic activity late in the year due to fiscal cliff concerns, KCS achieved record carloadings and revenues in 2012,” said David L. Starlin, KCS president and CEO, in a written statement.
