Posts Tagged ‘Genesee & Wyoming freight volume’

G&W Reports Increases in Second Quarter Income

August 3, 2017

Genesee & Wyoming reported this week that its second quarter 2017 operating revenue rose 7.8 percent to $540.4 million, while operating income increased 16.2 percent to $101.3 million when compared with the same quarter in 2016.

In a news release, G&W said that its adjusted operating income in the quarter rose 13.3 percent to $107.4 million compared with $94.7 million in the second quarter of 2016.

G&W’s reported net income for the quarter was $46 million, compared with reported net income of $48.4 million in the same period a year ago.

Excluding the net impact of certain items that affect comparability between the quarters, G&W’s adjusted net income in the second quarter of 2017 was $49.9 million compared with $47.0 million in the second quarter of 2016.

The company posted a second quarter diluted earnings per share of 74 cents, compared with reported diluted EPS of 83 cents in the second quarter of 2016. Adjusted diluted EPS for the quarter was 80 cents per share versus 81 cents a year ago.


G&W Carload Traffic Fell in 2nd Quarter

July 17, 2017

Genesee & Wyoming reported a decrease of 0.1 percent in carload traffic in the second quarter of 2017. However, total traffic was up by 14.6 percent worldwide.

G&W’s same-railroad second quarter traffic was 705,940 carloads, a decline of 976 carloads when compared with the second quarter of 2016.

Total traffic was 810,082 carloads, an increase of 103,166 carloads in the second quarter, which included operations in North America, Australia and Europe.

Across its U.S. operations, G&W saw major losses with metallic ore traffic dropping 30.6 percent. Petroleum products fell by 6.1 percent, metals by 3.3 percent, and pulp and paper by 3.2 percent.

Traffic increases came in waste, 24.9 percent; autos and auto parts, 12.7 percent; and minerals and stone, 9.4 percent.

G&W’s same-railroad traffic in June 2017 was 242,763 carloads, a decline of 1,434 carloads (0.6 percent) compared with June 2016.

In the past year, G&W has acquired two short-line railroad companies, the Providence & Worcester and the Heart of Georgia, the latter having been acquired on May 31, 2017.

G&W Operating Revenue, Income Falls

November 2, 2016

Genesee & Wyoming reported that its 2016 third quarter operating revenue fell 8.3 percent to $501 million while operating income dropped nearly 22 percent to $91.9 in comparison to the third quarter of 2015.

G&WReported diluted earnings per share declined 10.9 percent to 98 cents.

G&W said it had net income of $56.8 million, compared with net income of $63.4 million in the third quarter of 2015.

In a news release, G&W President and CEO Jack Hellman said that these results were consistent with expectations with a diluted EPS of 98 cents and adjusted diluted EPS of 95 cents.

“In North America, better than expected steam coal shipments combined with strong cost controls yielded a better than expected operating ratio of 71.9 percent,” Hellmann said.

G&W said it will continue to seek to maximize cost efficiency in North America.

“In addition, we continue to be active with a significant pipeline of acquisition opportunities in multiple geographies for which we are maintaining close working relationships with potential financial partners,” he said. “The broad reach of our global rail footprint is yielding an increasing number of contiguous or adjacent investment opportunities.”

G&W Says Traffic Volume Fell During June

July 16, 2016

Genesee & Wyoming said its traffic volumes fell in June 2016 and in the second quarter of 2016. G&W said it handled 244,197 carloads in June, a decrease of 10,016 carloads, or 3.9 percent, compared with June 2015.

G&WTraffic in the second quarter of 2016 was 706,916 carloads, a decrease of 40,956 carloads, or 5.5 percent.

North American traffic in June 2016 was 131,338 carloads, a decrease of 4.4 percent compared with June 2015.

The company said in a news release that the decline was due to reduced shipments of coal, coke, metals, pulp, paper, minerals and stone.

Five of G&W’s 14 traffic commodity groups in North America saw an increase or no change in traffic levels.

Posting increases were waste commodities, up 12.7 percent; autos and auto parts, up 9.3 percent; and petroleum products, up 6.7 percent.

Genesee & Wyoming owns or leases 121 freight railroads worldwide and serves more than 2,800 customers.