Kansas City Southern Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016; Provides CapEx Guidance for the Year 2017
For the year, the company reported revenue was $2,334.2 million against $2,418.8 million a year ago. Operating income was $818.5 million against $803.8 million a year ago. Income before income taxes was $662.7 million against $672.6 million a year ago. Net income attributable to the company was $478.1 million against $483.5 million a year ago. Net income available to common stockholders was $477.9 million against $483.3 million a year ago. Diluted earnings per share were $4.43 against $4.40 a year ago. Excluding the impacts of foreign exchange fluctuations and 2015 lease termination and debt retirement and exchange costs, adjusted diluted earnings per share for 2016 was $4.48 compared to $4.49 in 2015. Adjusted income before income taxes was $734.7 million against $746.4 million a year ago. Adjusted net income available to common shareholders was $483.3 million against $494.0 million a year ago. Capital expenditures were $584 million.
For 2017, The company expects a slight decline in capital to the $550 million to $560 million range, despite continuing to incur peak spend levels for the Sasol Lake Charles development and PTC, which combined, will be about $115 million next year.