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KANSAS CITY SOUTHERN

(KSU)
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Kansas City Southern Swings to 2Q Loss on Deal Termination Fee

07/16/2021 | 08:30am EDT

By Dave Sebastian

Kansas City Southern said it swung to a loss for the second quarter as it paid a $700 million termination fee for its scrapped deal with Canadian Pacific Railway Ltd.

The railroad on Friday post ed a net loss attributable to the company of $378.5 million, compared with a profit of $109.7 million in the prior year. It reported a loss of $4.17 a share, compared with a profit of $1.16 a share in the same period last year.

Adjusted earnings were $2.06 a share. Analysts polled by FactSet were expecting $2.15 a share.

Revenue rose to $749.5 million from $547.9 million due to higher volumes, higher fuel surcharges and the strengthening of the Mexican peso against the U.S. dollar, the company said. Analysts were looking for $750.6 million.

The company said it will put to shareholder vote the proposed combination with Canadian National Railway Co. on Aug. 19. The $700 million reimbursement from Canadian National will be recognized upon the shareholder vote, Kansas City Southern said.

Chief Executive Patrick Ottensmeyer said the company has deployed additional assets and crews to support service recovery.

"Although we are pleased with the strong volume growth, we fell short of our own expectations for customer service," Mr. Ottensmeyer said.

Write to Dave Sebastian at dave.sebastian@wsj.com

(END) Dow Jones Newswires

07-16-21 0829ET

Stocks mentioned in the article
ChangeLast1st jan.
CANADIAN NATIONAL RAILWAY COMPANY 1.98% 167.5 Delayed Quote.19.69%
CANADIAN PACIFIC RAILWAY LIMITED 1.53% 94.16 Delayed Quote.6.63%
KANSAS CITY SOUTHERN 1.12% 305.33 Delayed Quote.-11.93%
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Financials (USD)
Sales 2021 2 963 M - -
Net income 2021 388 M - -
Net Debt 2021 3 378 M - -
P/E ratio 2021 217x
Yield 2021 0,69%
Capitalization 27 779 M 27 779 M -
EV / Sales 2021 10,5x
EV / Sales 2022 9,51x
Nbr of Employees 6 522
Free-Float 73,0%
Chart KANSAS CITY SOUTHERN
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Kansas City Southern Technical Analysis Chart | KSU | US4851703029 | MarketScreener
Technical analysis trends KANSAS CITY SOUTHERN
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Income Statement Evolution
Consensus
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Mean consensus HOLD
Number of Analysts 13
Last Close Price 305,33 $
Average target price 300,36 $
Spread / Average Target -1,63%
EPS Revisions
Managers and Directors
Patrick J. Ottensmeyer President, Chief Executive Officer & Director
Michael W. Upchurch Chief Financial Officer & Executive Vice President
Robert J. Druten Chairman
John F. Orr Executive Vice President-Operations
Warren K. Erdman Executive VP-Administration & Corporate Affairs
Sector and Competitors