North American railroad company Kansas City Southern (KSU) rose 6.1% to $110.52 Friday after the company's fourth-quarter earnings and revenue topped analysts' expectations, thanks in part to an increase in pricing.
The company reported fourth-quarter revenue of $694 million, a 5% increase from a year ago, as prices rose 3%. That was better than analysts' consensus expectations of $660.4 million.
Revenue was also bolstered by petroleum and crude shipments, the company said.
Earnings for the period increased 13% year over year to $1.56 a share, also ahead of Wall Street's expectations of $1.53.
Company CEO Patrick J. Ottensmeyer wasn't satisfied with the company's quarter despite the strong results.
"While we delivered record revenues, adjusted operating income and adjusted earnings per share, 2018 did not meet our own expectations for financial or operational performance," said Ottensmeyer. "In addition, we did not meet the expectations of our customers or shareowners, particularly in the areas of customer service and growth."
Kansas City Southern shares have risen more than 6% year to date, though the stock is down 1.5% over the past 12 months.