Despite flooding, Kansas City Southern’s earnings and stock jump

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.

This story was originally published April 19, 2016 at 10:58 AM with the headline "Despite flooding, Kansas City Southern’s earnings and stock jump."