Genesee & Wyoming (GWR) Stock Up on Strong August Traffic

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.

Segmental Traffic

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

Genesee & Wyoming, Inc. Price | Genesee & Wyoming, Inc. Quote

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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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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