Genesee & Wyoming Q4 rises on strong freight revenue

By: | at 07:00 PM | Intermodal  

Genesee & Wyoming Inc , which owns and operates short-line and regional railroads, reported higher quarterly profit, helped by a rise in freight revenue.

Genesee & Wyoming said it expects its Australian business to benefit in 2011 on additional shipments of iron ore and grain, and full-year contribution of the FreightLink acquisition.

Genesee & Wyoming operates railroads in the United States, Canada, Australia and the Netherlands, and transports commodities such as coal, paper, metals and minerals.

For October-December, net income attributable to Genesee & Wyoming rose to $19.9 million, or 47 cents per share, from $18.3 million, or 44 cents per share, a year earlier.

Operating revenue rose 21 percent to $169.7 million. Same railroad operating freight revenues jumped about 16 percent to $95.4 million.

Analysts on average expected earnings of 53 cents per share on revenue of $167.9 million, according to Thomson Reuters I/B/E/S. (Reuters)


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