This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Genesee & Wyoming Reports Results For The Fourth Quarter Of 2013

Stocks in this article: GWR

Genesee & Wyoming Inc. (G&W) (NYSE:GWR)

Fourth Quarter Highlights

  • Reported diluted earnings per common share (EPS) of $1.03; adjusted diluted EPS of $1.07, a 35.4% increase in adjusted diluted EPS and a 19.0% increase in adjusted diluted EPS normalizing for the impact of the 2013 short line tax credit. (1)
  • Total operating revenues increased 72.3% to $391.7 million.
  • Combined Company adjusted operating revenues, excluding the net impact from foreign currency depreciation and fuel sales to third parties, increased 8.2%. (2)
    • To provide comparative context for 2013 consolidated revenues and traffic volumes, G&W is providing “Combined Company” comparisons as though the RailAmerica railroads were controlled by G&W during 2012. In doing so, G&W has reclassified RailAmerica's 2012 information to conform with G&W's presentation.
  • Adjusted income from operations increased 65.6% to $95.7 million; Reported income from operations increased 181.7% to $94.8 million. (3)
  • Adjusted operating ratio increased 100 basis points to 75.6% (excluding RailAmerica integration and acquisition-related costs, business development and financing costs and net gain on sale of assets); Reported operating ratio of 75.8% (77.2% North American & European Operations; 70.4% Australian Operations). (3)

Jack Hellmann, President and CEO of G&W, commented, “The overall trajectory of our business continues to be positive, with adjusted diluted EPS increasing 19% in the fourth quarter of 2013. However, G&W’s fourth quarter financial results were weaker than we expected. While carload levels were consistent with our expectations, with the exception of delayed movements in Australian grain, our operating income was lower than projected for three main reasons. First, the strengthening of the U.S. dollar reduced our income translation from Australia and Canada. Second, we experienced two costly derailments in the quarter, one in Alabama in November and another in the Northern Territory of Australia in December. Third, our diesel fuel consumption was unusually high due to extremely cold temperatures in the United States and Canada.” (1)

1 of 15

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!

Markets

DOW 17,814.94 -2.96 -0.02%
S&P 500 2,067.03 -2.38 -0.12%
NASDAQ 4,758.2520 +3.36 0.07%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

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