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Kansas City Southern updated its 2014 earnings guidance yesterday to reflect an expected change in the operating ratio and diluted earnings per share.Due primarily to strength in the grain and automotive commodity groups, the Class I expects its full-year adjusted operating ratio to improve by about 150 basis points from the 68.8 ratio reported in 2013. KCS also expects its adjusted effective tax rate to be between 33 percent and 34 percent, a 1 percent reduction from the rate assumed in the previous full-year 2014 guidance.As a result, the railroad now expects 2014 adjusted diluted earnings per share growth in the high teens. The railroad maintains its previous guidance of mid-single-digit volume growth and high-single digit revenue growth.
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