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Canadian Pacific Railway and Kansas City Southern announced that over 300 stakeholders, including major customers and ports, have expressed support for their planned U.S.-Mexico-Canada rail network. Key supporters, such as SSAB and the Port of New Orleans, anticipate benefits like enhanced transportation competition, access to markets, and improved service offerings. The approval process from the Surface Transportation Board is ongoing, with a completion anticipated by mid-2022. The merger aims to create a more competitive alternative in the rail sector while maintaining the smallest revenue size among major U.S. Class 1 railroads.
Canadian Pacific Railway Limited (CP) and Kansas City Southern (KCS) are advancing their merger plans, receiving support from nearly 260 stakeholders including shippers and industry leaders. This combination aims to create a robust rail network linking the U.S., Mexico, and Canada, enhancing transportation competition and market access. The merger is expected to improve service efficiency for various sectors while adding jobs and yielding environmental benefits. Approval from the Surface Transportation Board and shareholders is required, with a review expected to conclude by mid-2022.
Canadian Pacific Railway (CP) and Kansas City Southern (KCS) announced a merger agreement worth approximately $29 billion, including $3.8 billion of KCS debt. The deal values KCS at $275 per share, a 23% premium. Once approved, the merger will create the first rail network connecting Canada, the U.S., and Mexico, enhancing competition and service for customers. The combined entity is projected to generate $780 million in annualized synergies and is expected to be accretive to CP's adjusted EPS in the first year post-acquisition. CP will issue 44.5 million shares and raise $8.6 billion in debt for the transaction.
Canadian Pacific Railway Limited (CP) has announced a merger agreement to acquire Kansas City Southern (KCS) for approximately USD $29 billion, including KCS's $3.8 billion debt. This deal represents a 23% premium on KCS stock, translating to $275 per share. The merger aims to create the first rail network linking the U.S., Mexico, and Canada, enhancing service options and market reach. Expected synergies include $780 million annually over three years, with the transaction anticipated to be accretive to CP’s EPS. The merger is subject to regulatory approval.
Kansas City Southern (KSU) will announce its first quarter 2021 financial results on April 16, 2021, before NYSE trading opens. A conference call for stakeholders will follow at 8:45 a.m. ET on the same day, available via webcast and telephone. The company operates in the U.S., Mexico, and Panama, focusing on rail transportation. KCS connects commercial hubs across North America, emphasizing its strategic alliances and investments. More details can be found on their investor website.
Kansas City Southern (KCS) will be presenting at the BofA Securities STAARS Virtual Summit 2021 on March 22, 2021, at 9:05 a.m. ET. Brian D. Hancock, Executive Vice President and Chief Innovation Officer, will address investors via webcast. Interested parties can access the live webcast and a subsequent replay on KCS’ official website.
KCS, a transportation holding company, operates railway investments across the U.S., Mexico, and Panama, linking key commercial centers. For more information, visit www.kcsouthern.com.
Kansas City Southern (KCS) (NYSE: KSU) will have Executive Vice President and Chief Financial Officer, Michael W. Upchurch, present at three upcoming conferences. The events include the Raymond James 42nd Annual Institutional Investors Conference on March 2, 2021, the J.P. Morgan Industrials Conference on March 16, 2021, and the Bank of America Global Industrials Conference on March 17, 2021. Investors can access the webcasts on KCS' website with a replay available after the events.
Kansas City Southern (KSU) has announced a 23% increase in its quarterly dividend, raising it from $0.44 to $0.54 per share, effective April 7, 2021. This decision reflects the Company's commitment to returning capital to stockholders, aligning with a target payout ratio in the low 20% range. Additionally, a dividend of $0.25 per share on preferred stock was declared, payable April 6, 2021. The Board also scheduled the Annual Meeting of Stockholders for May 20, 2021, with eligible stockholders entitled to vote.
Kansas City Southern (KCS) (NYSE: KSU) announced upcoming webcasts featuring key executives. President Patrick J. Ottensmeyer will present at the Stifel 2021 Virtual Transportation & Logistics Conference on February 9, 2021. CFO Michael W. Upchurch is scheduled to address Citi’s Global Industrials Virtual Conference on February 16 and the Barclays Industrial Select Conference on February 17, 2021. Interested investors can access the webcasts at investors.kcsouthern.com, with replays available post-event.
Kansas City Southern (KSU) reported its fourth quarter 2020 results with revenues of $693.4 million, down 5% mainly due to service interruptions and lower fuel surcharge. Operating income was $262.3 million with a 62.2% operating ratio. Net income reached $166.3 million, or $1.80 per share.
For the full year 2020, revenues totaled $2.6 billion, an 8% decline, while net income was $619.1 million, or $6.54 per diluted share. The company expects double-digit revenue growth in 2021, with a projected operating ratio of around 57.5% and earnings per share of $9 or better.
