UPDATE: Genesee & Wyoming Posts Downbeat Q1 Profit

Genesee & Wyoming GWR reported a rise in its first-quarter profit. Genesee & Wyoming's quarterly profit surged to $82.7 million, or $1.46 per share, from $22.2 million, or 0.52 per share, in the year-ago period. Excluding one-time items, it earned $0.87 per share. Its revenue gained 81% to $375.2 million. However, analysts were expecting earnings of 0.89 per share on revenue of $384 million. Genesee & Wyoming shares closed at $85.20 yesterday.