5 Earnings Reports Everyone is Talking About

4. Kansas City Southern (NYSE:KSU)

Number of Hedge Fund Holders: 61

Kansas City Southern (NYSE:KSU) recently announced mixed financial results for the third quarter. The railroad operator reported adjusted earnings of $2.02 per share for the three months ended 30 September 2021, missing the consensus forecast of $2.04 per share. The company blamed plant shutdowns and service interruptions for the weak profit.

Revenue for the quarter jumped 13 percent on a year-over-year basis to $744 million, just ahead of analysts’ average estimate of $722.4 million. Kansas City Southern (NYSE:KSU) had reported adjusted earnings of $1.96 per share on revenue of $659.6 in the comparable period of 2020.

CEO Patrick Ottensmeyer expressed his satisfaction with the results. Ottensmeyer said in a statement:

“We are encouraged that despite several commercial headwinds, our network is performing extremely well and we are delivering near record velocity and dwell. Underlying industrial demand is strong, and KCS has maintained resources to prioritize customer service as volumes return to the network. As certain supply chain disruptions are resolved and our revenue environment improves, our network will be well-positioned to handle incremental volume while continuing to provide premium service to our customers.”