Kansas City Southern Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017; Provides Capex Guidance for the Year 2018
For the full year of 2017, KCS achieved record revenues, operating income, operating ratio and adjusted diluted earnings per share. Revenue was $2,582.9 million, up 11% from 2016 revenue of $2,334.2 million, on 5% carload growth. Full year 2017 operating income was $922 million, an increase of 13% from the prior year of $818.5 million. Reported net income in 2017 was $964 million or $9.16 per diluted share, compared with $480 million, or $4.43 per diluted share, in 2016. Excluding the impacts of foreign exchange fluctuations and changes in the U.S. tax law, adjusted diluted earnings per share for 2017 was $5.25 compared to $4.48 in 2016. Income before income taxes was $874.3 million against $662.7 million a year ago. Net income available to common stockholders was $961.8 million against $477.9 million a year ago. Adjusted net income available to common stockholders was $551.2 million or $5.25 per diluted share against $483.3 million or $4.48 per diluted share a year ago.
The company CapEx guidance for the year 2018. The company CapEx spending of $560 million was right in line with its guidance, and for 2018, the company expects its CapEx to slightly decline to $530 million to $550 million.