Monday, July 14, 2014

Genesee & Wyoming notches record 2Q traffic

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Genesee & Wyoming, Inc. said Monday, July 14, 2014 its second-quarter traffic rose 6.0% measured against the comparable quarter in 2013. Same-railroad traffic was up 5.0% for the quarter.

Gains in coal and coke (up 11.3%) and agricultural products (up 12.2%) offset declines in petroleum products (down 11.7%), waste (down 13.2%), and autos and auto parts (off 20.5%).

Darien, Conn.-based GWI noted, “North American traffic increased 29,679 carloads, or 7.1%, primarily due to increased coal, agricultural products, overhead Class 1, minerals & stone, and metals traffic, partially offset by decreased petroleum products traffic.” In a disclaimer, GWI noted, “Historically, G&W has found that carload information may be indicative of freight revenues on its railroads, but may not be indicative of total revenues, operating expenses, operating income, or net income.”

GWI owns short line and regional freight railroads in the U.S., Australia, Canada, the Netherlands, and Belgium.