Stock Monitor: L.B. Foster Post Earnings Reporting
LONDON, UK / ACCESSWIRE / March 14, 2018 / Active-Investors.com has just released a free earnings report on Genesee & Wyoming Inc. (NYSE: GWR). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=GWR. The Company reported its fourth quarter fiscal 2017 and the full fiscal year 2017 operating and financial results on February 08, 2018. The railroad operator outperformed top- and bottom-line expectations. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is currently working on the research report for L.B. Foster Company (NASDAQ: FSTR), which also belongs to the Services sector as the Company Genesee & Wyoming. Do not miss out and become a member today for free to access this upcoming report at:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Genesee & Wyoming most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Earnings Highlights and Summary
Genesee & Wyoming's operating revenues increased 10.7% to $571.6 million in Q4 2017 compared to $516.5 million in Q4 2016. The Company's revenue numbers exceeded analysts' estimates of $566 million.
During Q4 2017, Genesee & Wyoming's operating income was $108.2 million compared to $53.6 million in Q4 2016. The Company's adjusted operating income was $105.7 million in the reported quarter compared to $103.4 million in the prior year's same quarter.
For Q4 2017, Genesee & Wyoming's net income attributable to common shareholders was $426.6 million, or $6.81 per diluted share, of which a significant portion was a benefit from the new tax legislation in the United States of $372 million, compared to earnings of $8.9 million, or $0.51 per diluted share, in Q4 2016.
Excluding the net impact of the tax benefit and certain other items, the Company's adjusted net income attributable to common shareholders was $48.6 million, or $0.77 per diluted share (62.7 million average shares outstanding), in the reported quarter versus $49.3 million, or $0.84 per diluted share (58.8 million average shares outstanding), in the prior year's comparable quarter. Genesee & Wyoming's earnings numbers beat Wall Street's estimates of $0.75 per share.
For the full fiscal year, 2017, Genesee & Wyoming's revenues totaled $2.2 billion compared to $2.00 billion in FY16.
For FY17, Genesee & Wyoming's net income attributable to common shareholders was $549.1 million, or $8.79 per diluted share, compared to $141.1 million, or $2.42 per diluted share, in FY16. Excluding the impact of certain items affecting comparability, the Company's adjusted net income attributable to common shareholders was $182.0 million, or $2.91 per diluted share, in FY17 compared to $182.4 million, or $3.13 per diluted share, in FY16.
Segment Results
During Q4 2017, Genesee & Wyoming's North American Operations (NAO)'s operating revenues decreased 0.6% to $320.2 million compared to $322.2 million in Q4 2016. Excluding $4.0 million of revenues from new operations, NAO's same railroad revenues fell 2.2% on a y-o-y basis, primarily due to a decrease in freight-related revenues.
For Q4 2017, NAO traffic dropped 1.9% to 395,422 carloads on a y-o-y basis. Excluding 5,246 carloads from new operations, NAO's same railroad traffic decreased 12,763 carloads, or 3.2%, on a y-o-y basis in the reported quarter. The same railroad traffic decrease was principally due to decreases of 9,444 carloads of coal and coke traffic and 6,239 carloads of agricultural products traffic, partially offset by increases of 3,481 carloads of minerals and stone traffic.
NAO's operating income was $74.6 million in Q4 2017 compared to $83.4 million in Q4 2016. The segment's operating ratio was 76.7% in the reported quarter compared to 74.1% in the prior year's corresponding quarter. NAO's adjusted operating income was $75.5 million in Q4 2017 compared to $87.4 million in Q4 2016, while its adjusted operating ratio was 76.4% in the reported quarter compared to 72.9% in Q4 2016.
During Q4 2017, Genesee & Wyoming's Australian Operations' operating revenues surged 23.1% to $75.5 million compared to $61.4 million in Q4 2016. Australian Operations' traffic soared 61.4% to 132,999 carloads in the reported quarter. Excluding 56,366 carloads from new operations, Australian Operations' same railroad traffic decreased 5,756 carloads, or 7.0%, on a y-o-y basis.
Australian Operations' operating income was $17.6 million in Q4 2017 compared to $2.8 million in Q4 2016. The segment's operating ratio was 76.7% in the reported quarter compared to 95.4% in the prior year's same quarter. The segment's adjusted operating income was $22.5 million in Q4 2017 compared to $13.5 million in Q4 2016, while its adjusted operating ratio was 70.2% compared to 77.9% in Q4 2016.
For Q4 2017, Genesee & Wyoming's UK/European Operations' operating revenues jumped 32.3% to $175.8 million compared to $133.0 million in Q4 2016. Excluding $37.8 million from new operations and a $10.5 million increase due to the impact of foreign currency appreciation, UK/European Operations' same railroad revenues decreased 3.8% on a y-o-y basis, primarily due to a decrease in Continental Europe intermodal revenues.
UK/European Operations' traffic decreased 2.6% to 274,007 carloads on a y-o-y basis in Q4 2017. The traffic decrease was principally due to decreases of 9,458 carloads of coal and coke traffic and 4,209 carloads of intermodal traffic.
UK/European Operations' operating income was $16.0 million in Q4 2017 compared to an operating loss of $32.6 million in Q4 2016. The segment's operating ratio was 90.9% in the reported quarter versus 124.5% in the prior year's comparable quarter. The segment's adjusted operating income was $7.6 million in Q4 2017 compared to $2.4 million in Q4 2016, driven by the impact of the restructuring of ERS, improvements in the UK intermodal operations, and the contribution from the Pentalver acquisition. UK/European Operations' adjusted operating ratio was 95.7% in Q4 2017 compared to 98.2% in Q4 2016.
Cash Matters
For FY17, Genesee & Wyoming's net cash provided by operating activities advanced 17.7% to $479.2 million. The Company's adjusted free cash flow rose 3.6% to $250.2 million.
Stock Performance Snapshot
March 13, 2018 - At Tuesday's closing bell, Genesee & Wyoming's stock marginally dropped 0.11%, ending the trading session at $73.99.
Volume traded for the day: 475.06 thousand shares, which was above the 3-month average volume of 439.29 thousand shares.
Stock performance in the last month – up 6.32%; previous six-month period – up 5.25%; and past twelve-month period – up 5.50%
After yesterday's close, Genesee & Wyoming's market cap was at $4.51 billion.
Price to Earnings (P/E) ratio was at 26.11.
The stock is part of the Services sector, categorized under the Railroads industry.
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