Genesee & Wyoming Q1 Profit Decreases - Quick Facts

(RTTNews) - Genesee & Wyoming Inc. (GWR) reported net income in the first quarter of 2015 of $23.9 million, compared to $40.0 million in the first quarter of 2014. Reported EPS were $0.42 compared to $0.70. Adjusted EPS were $0.83, for the quarter.

On average, 13 analysts polled by Thomson Reuters expected the company to report profit per share of $0.81 for the quarter. Analysts' estimates typically exclude special items.

Total operating revenues increased 5.5% to $397.0 million from $376.3 million, including $15.1 million of revenues from Freightliner for the last five days in March and $21.9 million of revenues from Rapid City, Pierre & Eastern Railroad, Inc. and Pinsly Arkansas. Same railroad revenue, excluding the $13.4 million impact of foreign currency depreciation, declined 0.8%. Analysts expected revenue of $376.84 million for the quarter.

Jack Hellmann, CEO of G&W, said: "Our adjusted earnings per common share increased 18.6% in the first quarter of 2015, or 23.9% excluding the impact of foreign currency. However, our results were weaker than our expectations for two principal reasons. First, severe winter weather, although not as challenging as last year, adversely impacted revenues and expense at several of our railroads, particularly in the Northeast United States. Second, we experienced a sharp decline in shipments of certain commodity groups in North America starting in mid-February, including coal and metals, primarily steel."