Genesee & Wyoming June traffic more than doubles
DARIEN, Conn. — Railroad operator Genesee & Wyoming’s June traffic more than doubled as it continued to benefit from its acquisition of regional rail operator RailAmerica Inc.
Genesee & Wyoming Inc. reported on Friday that carloads in June totaled 155,757. That compares with 76,153 carloads a year earlier.
June carloads would’ve climbed 5.7 percent compared with a year earlier if the company had owned RailAmerica then.
Genesee & Wyoming said that coal and coke traffic rose during the month mostly because of increased shipments in the Midwest and Central regions. Petroleum products traffic also climbed primarily because of increased shipments of crude oil and liquid petroleum gases in the Pacific, Southern, and Mountain West regions. Metals traffic increased on higher shipments in the Southern and Ohio Valley regions.
Second-quarter traffic more than doubled to 480,979 carloads thanks to the acquisition. Traffic rose 7.7 percent on a pro-forma basis.
Genesee & Wyoming shares finished at $90.85 on Thursday. That is near the upper end of their 52-week range of $52.38 to $94.80.