Friday, July 12, 2013

GWI marks good 2Q traffic volume

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Greenwich, Conn.-based Genesee & Wyoming, Inc. early Friday said its second-quarter "same-railroad" volume had increased 6.5% compared with the second quarter of 2012 led in large measure by a surge in petroleum and petroleum products movement.

Total second-quarter "consolidated traffic volumes including carloads from RailAmerica Inc. (RA) railroads that were previously reported separately" saw GWI's volume rise 104.8%.

GWI's statements included "supplemental 2012 carload information on a pro forma basis as though the RA railroads were owned by G&W on January 1, 2012. In addition, G&W has amended RA's 2012 carload information to conform with G&W's reporting methodology," the company said.

The company's good second-quarter numbers were aided by a healthy June, where volume rose 104.5%, "compared to G&W's traffic in June 2012, and an increase of 8,382 carloads, or 5.7%, compared to total June 2012 carloads pro forma for the RA acquisition. "

Genesee & Wyoming oversees 111 railroads in the U.S., Canada, Australia, Belgium, and the Netherlands.