Featured Company News – Genesee & Wyoming Reported July 2017 Results; Observed 14.1% Net Advance in Traffic YOY
Research Desk Line-up: American Railcar Industries Post Earnings Coverage
LONDON, UK / ACCESSWIRE / August 14, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Genesee & Wyoming, Inc. (NYSE: GWR) ("G&W"), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=GWR. The Company announced on August 11, 2017, its traffic volumes for July 2017. G&W owns or leases about 122 freight railroads worldwide that are organized in 10 operating regions with over 8,000 employees and 3,000 customers. The Company's traffic in July 2017 was 277,140 carloads, an increase of 34,190 carloads, or a 14.1% advance against July 2016. G&W's same-railroad traffic was 239,365 carloads, declining 1.5% YOY, from July 2016. For immediate access to our complimentary reports, including today's coverage, register for free now at:
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Segment Highlights
In the North American segment, The Company reported net traffic of 133,832 carloads, advancing 2.0% against July 2016. The results included carloads from the Providence and Worcester Railroad Company (P&W) acquisition, which closed on November 01, 2016, and the Heart of Georgia Railroad, Inc. (HOG), which closed on May 31, 2017. G&W reported a traffic decline in July 2017 of 1.0%, on a same-railroad basis, where the Company attributed the decline to decreased agricultural products traffic, partially offset by increased demand of metals and coal and coke traffic.
G&W reported net traffic from the Australian operations of 52,838 carloads in July 2017, which included the carloads from the Glencore Rail acquisition, which closed on December 01, 2016. The Company's traffic advanced 22.4% YOY in July 2017, primarily due to increased agricultural products and metallic ores traffic. The Company's traffic from UK/European operations was 90,990 carloads, declining 5.9% from July 2016.
Australian Same-Railroad Traffic Results
G&W announced that in its Australian operations, the agricultural products traffic advanced by 73% or 2,179 carloads in July 2017, primarily due to a strong harvest in 2017. On the other hand, the metallic ores traffic advanced 1,345 carloads, or 69.3%, owing to the re-opening of a manganese mine in March 2017. However, all remaining traffic for the Australian segment declined by a net 139 carloads in July 2017.
Q2 FY17 results
G&W announced on August 1, 2017, the results for Q2 FY17, where the Company reported the net operating revenues to advance by 7.8% to $540.4 million in Q2 FY17, against $501.4 million in Q2 FY16. The Company reported net income attributable to G&W of $46.0 million in Q2 FY17, against $48.4 million net income in Q2 FY16. The Company also completed the acquisition of Pentalver Transport Limited, a U.K. based maritime container terminal and transportation business, on May 3, 2017, and later, completed the acquisition of Atlantic Western Transportation, Inc., parent company of Heart of Georgia Railroad, Inc. (HOG), on May 31, 2017.
G&W's Growth Prospects
G&W serves 41 U.S. states and four Canadian provinces, including 115 short line and regional freight railroads with more than 13,000 track miles. The Company's Australia Region offers rail freight services in New South Wales, including the Hunter Valley coal supply chain, the Northern Territory and South Australia, including operation of the 1-400 mile Tarcoola-to-Darwin rail line. As of December 1, 2016, The Company's Australian business is 51.1% owned by G&W, while the rest 48.9% is owned by a consortium of funds and clients managed by Macquarie Infrastructure and Real Assets.
The Company's UK operations are led by Freightliner, the UK's largest rail maritime intermodal operator and the second-largest rail freight Company. The Company's operations also include heavy-haul in Poland and Germany, intermodal services connecting Northern European seaports with key industrial regions in Germany, and regional rail services in Netherlands and Belgium.
Last Close Stock Review
At the closing bell, on Friday, August 11, 2017, Genesee & Wyoming's stock climbed 1.87%, ending the trading session at $66.33. A total volume of 463.85 thousand shares have exchanged hands, which was higher than the 3-month average volume of 404.60 thousand shares. The Company's stock price advanced 3.00% in the last three months and 3.13% in the previous twelve months. The stock is trading at a PE ratio of 29.02 and currently has a market cap of $4.06 billion.
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