Kansas City Southern reported increased third-quarter profit and higher-than-expected revenue as it shipped more automobiles, grains and consumer products. The Kansas City-based railroad company earned $138 million during the three months that ended Sept. 30, up from a $119 million profit in the third quarter of 2013.
Overall, shipping volume climbed 4 percent in the quarter from a year earlier, led by a 28 percent increase in automotive shipments, the company said. Shipments of industrial and consumer products climbed 13 percent, while agriculture carloads gained 11 percent, mineral shipments climbed 8 percent, and chemical and petroleum business gained 7 percent.
The only category that declined was energy, which fell 4 percent because of a dip in utility coal and fracking sand shipments, the company said.