Genesee & Wyoming’s Q2 revenue falls, but company beats expectations

Slumping volumes were behind Genesee & Wyoming Inc.’s (GWI) decline in revenue and profit during second-quarter 2016, the company announced yesterday.

Operating revenue fell 7.5 percent to $501.4 million from $542.2 million a year ago. Reported operating income decreased 12.3 percent to $87.2 million; adjusted operating income declined 5.3 percent to $94.4 million.

Reported diluted earnings per common share were down 9.8 percent to 83 cents; adjusted diluted earnings per share remained constant at 93 cents per share, according to a company press release.

GWI reported $48.4 million in net income for the quarter, down from $52.8 million a year ago. Adjusted net income came in at $54 million, compared with $53 million in last year’s second-quarter.

In North America, where GWI earns about 80 percent of its operating income, operating revenue fell 2.1 percent to $304.6 million from $311 million in second-quarter 2015. Reported operating income from the North American operations rose 4.8 percent to $80.8 million.

Also in the second quarter, GWI’s results included $5 million in restructuring costs primarily associated with the company’s U.K./European operations, corporate development and related costs of $2.6 million, and a net gain on the sale of $300,000 in assets. Additionally, the second-quarter 2016 net income includes a $7.2 million income tax benefit associated with the U.S. Short Line Tax Credit, which was not in effect in Q2 2015.

The quarter’s results were “well ahead” of GWI’s outlook, primarily due to the North American operations’ performance, said President and Chief Executive Officer Jack Hellmann.

“Despite a 7 percent decline in North American carloads, favorable revenue mix and effective management of costs led to an improvement in our reported North American operating ratio of 1.3 percentage points to 74.1 percent, and a modest increase in our operating income,” he said.

Meanwhile, GWI’s Australian and U.K./Europe operations were generally in line with expectations, as the company completed a restructuring of its U.K. coal business, Hellmann added.

“While we are pleased with our second quarter results, our reported diluted EPS declined 10 percent and our adjusted diluted EPS excluding the Short Line Tax Credit declined 13 percent compared to last year,” he continued. “As a result, we remain focused on improving the efficiency of our operations amidst uneven business environments in each of our three segments worldwide.”

Additionally, the economic uncertainty continues to provide acquisition and investment opportunities that the company is “carefully evaluating in multiple geographies within our global footprint,” Hellmann said.

The Helen Sung Group: live @SmallsJazzClub

Jazz You Too

Helen Sung (piano) // John Ellis (soprano sax) // Ingrid Jensen (trumpet)// Reuben Rogers (bass) // Kendrick Scott (drums) // Samuel Torres(percussion) // Carolyn Leonhart (vocalist) // Christie Dashiell (vocalist)// Jean Baylor (vocalist)

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Traveling by Train For Long Periods

Blog of Things:

MSNposted an article entitled 12 Things You Should Know Before Traveling Across the Country on Amtrak by Macy Williams. The article was a slide show of little little tips about traveling on trains, especially for long stints at a time or overnights. Like the article points out the difference between the sleeper cars. I have not had the opportunity to stay in one as of yet, but hopefully soon. I have always heard good things about the food on trains but have not really tried it other than the M&Ms I bout that one time but I would hardly count that as train food. When my wife and I traveled to Chicago, we saw numerous people bringing their own meals onto the the train in big greasy bags. Which, of you have lived or stays in Kansas City long enough to have a meal that usually means one thing!…

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Environmental study unveiled for Montreal’s proposed light-rail system

CDPQ Infra, a subsidiary of institutional investor Caisse de depot et placement du Quebec, last week released an environmental impact study for the proposed Reseau electrique metropolitain (REM) light-rail system in Montreal.

Photo: CDPQ InfraAn official request has been made for a public hearing, at which CDPQ will present the project and recent updates.

The 41-mile, fully automated light-rail system would connect downtown Montreal with the city’s South Shore, North Shore and West Island areas. The REM also would connect to the Montreal-Pierre Elliott Trudeau International Airport in Dorval, Quebec.

The project is expected to cost $5.5 billion (in Canadian dollars), with the Caisse contributing $3 billion. The REM would be the third largest automated transportation system in the world after Dubai and Vancouver.
The Caisse established CDPQ Infra to plan, finance, develop and operate the project. In April, the organization first announced plans to build the REM.

Why Does Everybody Hate HR?

The Arts Mechanical

Liz Ryan has another great piece.

I became an HR person in 1984. I managed Customer Service and Operations before I was put into my first HR job by my awesome boss, John Brady, who told me when I came back from vacation, “You’re the HR Manager now.” I was like “What?” I was sad to leave my team in the Order Processing department.

We had a fantastic crew and we had fun. I was sad because I thought that being an HR person meant that I wouldn’t be able to talk to our customers or sales reps any more. I loved our customers and our salespeople. We laughed and joked on the phone all day.

John said, “Go ahead and talk to whoever you want.” He got me to see a bigger vision for HR, before I had spent 10 minutes in the HR department. John said, “The purpose of…

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Source of Truth

Pattern$ oF R@nD0mNEsS

Disclaimer: I always tell the truth, even when I lie

Don’t worry, I am not gonna talk about GOD; I am talking about Truth. And no, they are not synonymous.  Have you ever imagined what it means when people refer to Truth? Even I haven’t given much of a thought until now.

Truth is: A country’s judicial system rests on it. People’s life, their future, fate is decided by it!

Lately you might have heard about Muhammad Ali, The Greatest. It’s not just his nickname; he is regarded as the greatest Boxer of all time. Now, have you heard of Willie Pep? (Yeah, even he is dead) Pep is the only boxer to win 229 fights out of 241 and as per the stats; he came out on top in 1,956 rounds, which is no joke. If we go by the facts, William Pep is the greatest on paper. Is…

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