Genesse & Wyoming (G&W) produced grew revenues $39.1m in the second quarter of 2016. This meant total operating revenues for the period stood at $540.4m. Operating income was up 16.2% year-over-year to $101.3m.
North American operations traffic volumes grew 2.8% in Q2. Australian volumes grew by 101,838 to 146,089 due to new operations. Excluding these, volume growth stood at 20.7%. Its UK/European operations saw traffic fall by 3.5%.
Jack Hellmann, Chairman, President and CEO of G&W commented, “In the second quarter of 2017, we closed on the acquisitions of the Heart of Georgia Railroad in the United States and Pentalver in the United Kingdom, we completed the restructuring of ERS in Continental Europe, and we reported financial results that were modestly stronger than expected.”
Source: Genesee & Wyoming
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