This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Genesee & Wyoming Reports Results For The Second Quarter Of 2012

Genesee & Wyoming Inc. (GWI) (NYSE: GWR) reported net income in the second quarter of 2012 of $36.4 million, compared with net income of $31.1 million in the second quarter of 2011. GWI's diluted earnings per share (EPS) in the second quarter of 2012 were $0.84 with 43.2 million weighted average shares outstanding, compared with diluted EPS of $0.73 with 42.8 million weighted average shares outstanding in the second quarter of 2011.

GWI’s effective tax rate was 33.6% in the second quarter of 2012 compared with 26.8% in the second quarter of 2011. The higher tax rate in the second quarter of the current year was driven primarily by the expiration of the U.S. short line tax credit on December 31, 2011.

In the second quarter of 2012 and 2011, GWI's results included certain significant items that are set forth in the following table ($ in millions, except per share amounts).


IncomeBefore TaxesImpact

After-TaxNet IncomeImpact

Diluted EPSImpact

Q2 2012

Net Gain on Sale of Assets $ 6.2 $ 5.2 $ 0.12
Gain on Insurance Recoveries $ 5.2 $ 3.6 $ 0.08
Business/Corporate Development Expenses $ (1.9 ) $ (1.2 ) $ (0.03 )
Impact of Canadian Pacific Railway Strike $ (0.5 ) $ (0.4 ) $ (0.01 )

Q2 2011

Net Gain on Sale of Assets $ 1.1 $ 0.9 $ 0.02
Gain on Insurance Recoveries $ 1.0 $ 0.7 $ 0.02
Gain on Sale of Investment $ 0.6 $ 0.6 $ 0.01
Business/Corporate Development Expenses $ (0.4 ) $ (0.3 ) $ (0.01 )

Jack Hellmann, President and CEO of GWI commented, “GWI’s business continued to perform well in the second quarter of 2012, as revenues were in line with our expectations at $217 million and our adjusted operating ratio improved by 0.9 percentage points to 75.5%. In our North American & European Operations, despite weakness in our U.S. coal traffic, we maintained an adjusted operating ratio of 75.8%. In our Australian Operations, the reopening of the Edith River Bridge significantly improved traffic flow to Darwin and our second quarter adjusted operating ratio improved to 74.9%.” (1)

1 of 10

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,132.70 -81.72 -0.45%
S&P 500 2,104.50 -6.24 -0.30%
NASDAQ 4,963.5270 -24.3630 -0.49%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs