Genesee & Wyoming (G&W) reported its operating revenues increased by 6.3% for 2018 to $2.348bn from $2.208bn. Operating income increased by 8% to $423m from $391m in 2017. 2018 saw a decrease in net income. It reported $254m, down from $556m which is 54% lower than 2017. There were several items that affected the net income for 2018 including; corporate development, restructuring, credit facility refinancing related costs as well as Canadian railroad lease return costs.
Operating revenues from G&W’s North American Operations increased by 6.6% to $1,358.9m from $1,274.3m. Operating income increased to $343.1m from $304.3m.
Operating revenues from G&W’s Australian Operations decreased by 1.9% to $301.7m from $307.5m whilst operating income is reported to have increased to $80.3m from $77.3m.
Operating revenues from G&W’s UK/European Operations increased 9.9% to $688m from $626.2m, mainly due to new operations from the Pentalver Transport Limited (Pentalver) acquisition, as well as a $19.3m benefit from foreign currency appreciation. Operating income decreased to $0.1m from $10.5m.
Source: Genesee & Wyoming
