Genesee & Wyoming, Inc . GWR reported an impressive rise in August traffic volumes. Traffic in the month was 296,442 carloads, reflecting a 6.8% increase year over year. Moreover, the same railroad traffic climbed 11.1% excluding carloads from the Continental European intermodal business, sold in June 2018.
Following such encouraging figures, shares of the company inched up 1.2% at the close of business on Sep 14.
Traffic in the company's North American operations increased 11.7% from the year-ago figure owing to impressive growth across most of its commodity groups except the autos and auto parts group, which declined 14.4% year over year. Traffic at the Intermodal group soared a maximum of 53.3%.
Australian operations (owned 51.1% by the company) traffic improved 37.1% on the back of 44.2% and 3.4% traffic growth at the coal & coke and petroleum products group, respectively. Meanwhile, traffic at the agricultural products and metallic ores group plunged 40.8% and 30.4%, each.
However, similar to July traffic, U.K./European operations traffic dropped 12.7% year over year in August, mainly due to the respective 15.8% and 14% decrease in the segment's intermodal and agricultural products traffic numbers.
Genesee & Wyoming, Inc. Price
Zacks Rank & Key Picks
Genesee & Wyoming carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader Transportation sector are SkyWest, Inc. SKYW , Trinity Industries, Inc. TRN and Old Dominion Freight Line, Inc. ODFL , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here .
Shares of SkyWest, Trinity and Old Dominion have rallied more than 52%, 20% and 63%, respectively, in a year.
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