Railroad operator Kansas City Southern reported Q1’21 revenues which dipped 3.5% lower due to “the Polar Vortex and lingering network congestion” according to CEO Patrick Ottensmeyer. Looking ahead, the firm still expects double-digit revenue growth in 2021 as it proceeds with a merger with Canadian Pacific. That growth is expected despite challenges to the automotive sector from “microchip shortages in Q1 with recovery expected during the back half of 2021”. Mexican exports of automotive products by rail, largely handled by KCS, already dropped by 36.2% ...
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