Canadian Pacific (CP) and Kansas City Southern (KCS) submitted a filing to the Surface Transportation Board (STB) asserting what they say is their “right” to have their merger reviewed under a waiver the STB granted to KCS in 2001.
The majority of shippers participating in Cowen and Company’s survey on the proposed Canadian Pacific (CP)/Kansas City Southern (KCS) merger have a positive view of the transaction, and merger synergies “look promising,” according to the firm, which released results March 29.
As part of a special series in Railway Age’s March 2021 issue, 11 North American railroad CEOs address the daunting challenges the freight rail industry faces as the 21st century enters its third decade—from operations and technology to marketing and growth. Here, Pat Ottensmeyer, President and CEO of Kansas City Southern, discusses realizing the full benefits afforded by the new United States-Mexico-Canada Agreement.
Kansas City Southern reported Jan. 22 that fourth-quarter 2020 revenue fell 5% to $693.4 million vs. $729.5 million in the comparable 2019 quarter. This was based on lower volumes (3% decline) related to a 59-day service disruption at Lazaro Cardenas due to teachers’ protests; lower fuel surcharge; and fluctuations in foreign currency.
Kansas City Southern has submitted a letter to the Science Based Targets Initiative (SBTi) committing to setting a greenhouse gas emissions reduction target.
While BNSF and Kansas City Southern were unable to run their annual holiday trains this year due to the pandemic, they continued delivering donations to communities along their lines.
Kansas City Southern’s (KCS) Board of Directors on Nov. 10 approved updates to the railroad’s capital allocation policy.
Kansas City Southern, the first Class I railroad out of the earnings report gate, took a revenue hit based on a carloadings drop, yet managed to post a 58.8% quarterly operating ratio. KCS also will initiate a $500 million share repurchase program on Oct. 16.
Kansas City Southern (KCS) has promoted Rodrigo Flores from Vice President Automotive to Vice President Automotive and Intermodal Sales, effective Sept. 1, 2020. In this expanded role, Flores will be responsible for the automotive and intermodal business units in the U.S. and Mexico.
Kansas City Southern (KCS) has formally joined the global network of Operation Clean Sweep® (OCS)—the Plastic Industry Association and American Chemistry Council’s Plastics Division’s campaign to reduce pellet, flake and powder loss for greater product stewardship and environmental protection. OCS aims to reach all aspects of the plastics industry and is being adopted globally through the Global Declaration of Solutions to Marine Litter.