GWI 4Q net rises; operating ratio sets record
Written by William C. Vantuono, Editor-in-ChiefGreenwich, Conn.-based Genesee & Wyoming Inc. Tuesday reported fourth-quarter net income of $19.9 million, or 47 cents per diluted share, up almost 9% from $18.3 million, or 44 cents per diluted share, in the comparable quarter of 2009.
Said GWI President and CEO Jack Hellmann, “In 2010, we achieved a company-record adjusted operating ratio of 77.6% and generated company-record free cash flow.”
Hellmann added, “Fourth-quarter results were strong as our carload shipments remained consistent with the preceding six months and we reported a company-record, fourth-quarter adjusted operating ratio of 78.2%, despite severe winter weather. In addition, we successfully completed the first month of operations of our FreightLink acquisition in Australia.
