Genesee & Wyoming Returns to Profitability in Q3
Railroad operator Genesee & Wyoming reported third-quarter results today before the markets opened, showing that it posted total operating revenues of $401.4 million, a big 80% surge from the same period in the previous year as it added in new rail systems acquired from RailAmerica, but it was still just short of the $403.7 million Capital IQ consensus estimate.
While adjusted net income came in at $68.4 million, or $1.19 per share, a 65% increase from $32.0 million, or $0.72 per share, in the same period in 2012, it was $0.03-per-share worse than the CapIQ estimates of $1.22 per share.
Genesee & Wyoming was able to return to profitability this quarter helped by its acquisition of RailAmerica railroads, which it acquired last year for $1.4 billion. Quarterly traffic was up 6.8% on a combined basis.
The railroad operator didn't provide guidance for the coming quarter, but analysts anticipate Genesee & Wyoming will post earnings of $1.22 per share in the fourth quarter on revenues of $405.2 million.
The article Genesee & Wyoming Returns to Profitability in Q3 originally appeared on Fool.com.Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool recommends Genesee & Wyoming. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.