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CSAFE Global



DARIEN, CT: August 01, 2017. Railroad company Genesee & Wyoming (G&W) has reported an unchanged net income of US$75.4 million on a 7.6 percent increase in revenue to US$1.05 billion for the first six months of 2017.

GW railroadSecond quarter revenue rose 7.8 percent to US$540.4 million from $501.4 million year-on-year as net income fell slightly to US$48.1 million from US48.3 million in 2016.

During the period the company acquired Pentalver Transport, a UK-based maritime container terminal and transportation business, and Atlantic Western Transport, parent company of Heart of Georgia Railroad.

Jack Hellmann, chairman, president and CEO of G&W said with US$154 million of free cash flow after the first six months of the year, the company continues "to evaluate a range of acquisition and investment opportunities across our global footprint of railroads".

During the second quarter, North America operating revenue increased 3.6 percent to US$315.7 million and operating income rose 0.7 percent to US$79.6 million; in Australia revenue from G&W's 51.1 percent-owned business rose 38.9 percent to US$76.8 million while adjusted operating income doubled to US $20.3 million.

In the UK and Europe during the period, revenue rose 4.5 percent to US$148.0 million and reported adjusted income increased to US$5.9 million from US$3.4 million.

G&W owns or leases 122 freight railroads worldwide and provides rail service at more than 40 major ports in North America, Australia and Europe.

CSAFE Global






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