Flooding shut down parts of Kansas City Southern’s railway operations for three weeks but did not derail its first quarter earnings.
The company posted $107.8 million in profits during the first quarter, or 99 cents a share, compared with $100.8 million, or 91 cents a share, in the same quarter a year ago. The 6.9 percent increase in profits came despite service problems last month.
Shares of Kansas City Southern jumped on the Tuesday morning report. The stock gained $4.55, or nearly 5 percent, to $96.02.
Heavy rains had disrupted service in eastern Texas and large parts of Louisiana in March. Revenues suffered, falling 6.6 percent to $562 million during January, February and March.
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