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Genesee & Wyoming’s net profit falls during 3Q 2019

(Source: Freight Waves, November 7, 2019)

CHATTANOOGA, Tenn. — Net profit for short line operator Genesee & Wyoming (G&W) slipped in the third quarter amid lower revenues and rail volumes. Third-quarter net income attributable to G&W totaled $66.8 million, or $1.16/diluted share, compared with $69.6 million, or $1.16/diluted share, in the third quarter of 2018, according to the company’s 10-Q filing to the U.S. Securities and Exchange Commission (SEC). The short line operator no longer hosts earnings calls for investors or issues releases because Brookfield Infrastructure and other partners sought in July to acquire G&W at a transaction price of $112/share per common stock. That acquisition is expected to become final by the end of 2019 or in early 2020.

Full story: Freight Waves

Friday, November 8, 2019

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