Kansas City Southern’s KSU first-quarter 2018 earnings (excluding 10 cents from non-recurring items) of $1.30 fell short of the Zacks Consensus Estimate of $1.35. The bottom line, however, improved 11.1% on a year-over-year basis buoyed by volume growth. Overall carload volumes ticked up 1% in the reported quarter.Kansas City Southern recorded revenues of $638.6 million, which missed the Zacks Consensus Estimate of $643.5 million. However, it compared favorably with the year-ago number of $609.5 million. Strong performance at the Chemical & Petroleum unit contributed to the year-over-year expansion in the top line.Meanwhile, operating income increased 4% (on a reported basis) to $219 million. Kansas City Southern’s operating ratio (operating expenses as a percentage of revenues) deteriorated to 65.8% from 65.4% a year ago. Operating expenses rose 5% in the quarter.We note that lesser the value of operating ratio the better, as it implies that more cash is available to the company to reward shareholders through dividends/buybacks. Deterioration in this key metric is a negative for this Zacks Rank #3 (Hold) railroad operator. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.The company still expects current-year volume growth in mid-single digits.Kansas City Southern Price, Consensus and EPS Surprise Kansas City Southern Price, Consensus and EPS Surprise | Kansas City Southern QuoteSegmental ResultsThe Chemical & Petroleum segment generated revenues of $139.7 million, up 10% year over year. Volumes improved 2% year over year. Revenues per carload also increased 8% from a year ago.The Industrial & Consumer Products segment raked in revenues of $146.3 million, up 4% year over year. Business volumes and revenues per carload climbed a respective 1% and 3% year over year.Total revenues at the Agriculture & Minerals segment were $113.4 million, down 2% year over year. While business volumes declined 5%, revenues per carload were up 3%, both on a year-over-year basis.The Energy segment generated revenues of $61.3 million, down 11% year over year. Dismal performance at the Utility Coal and Coal & Petroleum Coke dented results. While business volumes contracted 20% year over year, revenues per carload rose 11%.Intermodal revenues totaled $90.9 million, up 9% year over year. While business volumes improved 8%, revenues per carload were flat in the reported quarter.Revenues at the Automotive segment came in at $59.8 million, up 17% year over year. While business volumes improved 6%, revenues per carload increased 10%.Other revenues totaled $27.2 million, up 19% year over year.Upcoming ReleasesInvestors interested in the railroad space are keenly awaiting first-quarter earnings reports from key players such as Canadian National Railway Company CNI, Norfolk Southern Corporation NSC and Union Pacific Corporation UNP. While Canadian National will report first-quarter earnings on Apr 23, Norfolk Southern and Union Pacific will announce the same on Apr 25 and Apr 26, respectively.Wall Street’s Next AmazonZacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.Click for details >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Kansas City Southern (KSU): Free Stock Analysis Report Union Pacific Corporation (UNP): Free Stock Analysis Report Canadian National Railway Company (CNI): Free Stock Analysis Report Norfolk Southern Corporation (NSC): Free Stock Analysis Report To read this article on Zacks.com click here.