Genesee & Wyoming’s North America Division Hit by 1Q Winter Weather, but Europe Margins Improving
Short-line railroad specialist Genesee & Wyoming’s consolidated top line fell 3%, slightly below our expected run rate due to adverse winter weather and flooding-related disruption in North America. That said, management noted that outside of the weather-impacted regions, most of North America “felt pretty good†and the industrial development pipeline remains quite strong. Also, the firm expects to recover some lost business from weather disruption, particularly coal volumes (customer’s plan...Genesee & Wyoming owns or leases freight railroads worldwide. The company has three segments: North American Operations, which includes several regions that serve U.S. states and Canadian provinces and includes short line and regional freight railroads; Australian Operations, which serves New South Wales, the Northern Territory and South Australia and operates the Tarcoola-to-Darwin rail line; and U.K./European Operations, which is led by Freightliner Group Limited, a rail maritime intermodal operator and rail freight provider, as well as regional rail services in Continental Europe.
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