KANSAS CITY, MO (STL.News) Kansas City Southern (KCS) (NYSE:KSU) reported revenues of $659.6 million, a decrease of 12% from third quarter 2019. Overall, carload volumes were down 4% compared to prior year.
Third quarter revenues were $659.6 million, a decrease of 12% primarily resulting from lower volumes driven by a decline in demand due to COVID-19 and lower commodity prices, lower fuel surcharge, and unfavorable foreign currency impacts.
Third quarter operating expenses were $388.1 million. Operating income was $271.5 million and the reported operating ratio was 58.8%. Third quarter net income was $190.2 million, or $2.01 per diluted share. Adjusted third quarter operating income, net income and diluted earnings per share were as follows:
NOTE: this is NOT the complete release.