Genesee & Wyoming Inc. (GWR) Tops Q2 EPS by 1c

Genesee & Wyoming Inc. (NYSE: GWR) reported Q2 EPS of $1.12, $0.01 better than the analyst estimate of $1.11. Revenue for the quarter came in at $414.6 million versus the consensus estimate of $411.13 million.

G&W’s same railroad freight revenues in the second quarter of 2014 were $311.8 million, compared with $299.8 million in the second quarter of 2013. Excluding a $5.1 million decrease from the impact of foreign currency depreciation, G&W’s same railroad freight revenues increased by $17.1 million, or 5.8%.

G&W’s same railroad non-freight revenues in the second quarter of 2014 were $97.3 million, compared with $100.8 million in the second quarter of 2013. Excluding a $1.4 million decrease from the net impact of foreign currency depreciation, G&W’s same railroad non-freight revenues decreased by $2.1 million, or 2.2%, primarily due to less construction revenues as compared to the prior year.

G&W’s traffic in the second quarter of 2014 increased 28,652 carloads, or 6.0%, to 509,631 carloads. Excluding 4,708 carloads from the RCP&E, same railroad traffic in the second quarter of 2014 increased 23,944 carloads, or 5.0%. The same railroad traffic increase was principally due to increases of 9,056 carloads of coal and coke traffic (primarily in the Midwest and Ohio Valley regions), 7,286 carloads of traffic from G&W’s Other commodity group (primarily overhead Class I shipments), 4,927 carloads of agricultural products traffic (primarily in the Pacific Region) and 3,601 carloads of metals traffic (primarily in the Northeast and Canada regions), partially offset by a 3,302 carload decrease in petroleum products traffic (primarily in the Southern and Pacific regions). All remaining traffic increased by a net 2,376 carloads.

For earnings history and earnings-related data on Genesee & Wyoming Inc. (GWR) click here.

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