Kansas City Southern CEO sees ‘modestly strong’ economic recovery continuing this year

SourceCNBC
SectorEconomy
CountryGulf

The CEO of Kansas City Southern told CNBC on Friday he sees the company's recovery from coronavirus business lows continuing for the rest of 2020, an optimistic sign for the broader U.S. economy.The railroad operator reported third-quarter earnings earlier in the day, posting revenues of $660 million that missed Wall Street estimates of $663 million. However, Kansas City Southern's per-share earnings of $1.96, excluding items, was better than the profits per share of $1.90 analysts had forecast."Across our industrial and consumer economy, we think it's going to continue to be modestly strong from this point through the end of the year," CEO Patrick Ottensmeyer said on "Closing Bell."Kansas City Southern also raised its full-year guidance Friday, saying it expects earnings per share to be slightly higher on a year-over-year basis. ...read more...