Genesee & Wyoming Continues to Navigate a Lackluster Demand Environment in Its Third Quarter
Short-line rail operator Genesee & Wyoming’s consolidated top line fell 8% year over year, driven by unfavorable foreign exchange (mostly the British pound), lower fuel surcharges, and continued soft carload activity across several commodity groups. Revenue wasn’t far off our anticipated run rate, but fourth-quarter top-line guidance came in slightly shy of our expectations mainly because of pressure on intermodal volume in both the U.K. and Continental Europe. That said, intermodal activity...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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