Kansas City Southern Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015; Provides Capital Spending Guidance for 2016
For the year, the company reported revenues of $2,418.8 million compared to $2,577.1 million a year ago. Operating income was $803.8 million compared to $809.1 million a year ago. Income before income taxes was $672.6 million compared to $713.1 million a year ago. Net income was $485.3 million compared to $504.3 million a year ago. Net income available to common stockholders was $483.3 million or $4.40 per diluted share compared to $502.4 million or $4.55 per diluted share a year ago. Adjusted income before income taxes was $746.4 million compared to $793.5 million a year ago. Adjusted net income was $496.0 million compared to $534.7 million a year ago. Adjusted operating income was $813.4 million compared to $847.4 million a year ago. For 2015, the company incurred $649 million in capital spending.
Capital spending for 2016 is projected at $580 million to $590 million, which represents a 10% reduction from 2015.