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Genesee & Wyoming May Traffic Falls 3.8%

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Genesee & Wyoming Inc. (NYSE: GWR) revealed traffic volumes for May 2016. Accordingly, its May traffic was 232,747 carloads representing a drop of 9,215 carloads or 3.8 percent from May 2015.

Genesee & Wyoming suffered setback in all the regions. For instance, while North American operations witnessed 2.6 percent fall, Australian operations recorded 10.3 percent drop in May. Similarly, the United Kingdom / European operations suffered 4.5 percent drop in traffic in the same month.

The company attributed the decrease in North America primarily to reduced shipments of coal & coke traffic, partially offset by increased metals traffic. Similarly, the drop in Australia was due to reduced agricultural products traffic. For the United Kingdom and European operations, it blamed on the reduced coal & coke and minerals & stone traffic, partly offset by higher intermodal traffic.

For the second quarter until May also, G&W's slipped 6.3 percent to 462,719 carloads from the second quarter of 2015 until May.

The stock traded 1.43 percent up on Wednesday.

Posted-In: News

 

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