Genesee & Wyoming, Inc.GWR reported increase traffic volumes for October. Traffic in the month was 286,180 carloads, reflecting a 3.9% increase year over year. The railroad's same railroad traffic (excluding carloads from the Continental European intermodal business sold in June 2018) climbed 7.1%.
Traffic in the company's North American operations expanded 8.1% from the year-ago figure owing to impressive growth across most of its commodity groups. Notably, the intermodal segment was the most impressive performer, with its traffic rising 77%. On the flip side, the autos & auto parts group performed disappointingly, with traffic declining 41.2% due to decreased shipments in the western and midwest regions.
Australian operations (owned 51.1% by the company) traffic improved 15.1%, courtesy of 43.5% and 24.7% traffic growth at the metallic ores and coal & coke groups, respectively. Meanwhile, traffic at the agricultural products and petroleum products group plunged 83.9% and 13.8%, respectively.
Total traffic at U.K./European operations declined 7% from the last October-level, mainly due to a 13.1% decrease in the segment's intermodal traffic.
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 Air France-KLM SA AFLYY , CSX Corporation CSX and Spirit Airlines, Inc. SAVE , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here .
Shares of Air France-KLM have rallied more than 28% in the past six months, while CSX and Spirit Airlines have gained more than 44% and 43%, respectively, in a year.
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