Genesee & Wyoming reported disappointing traffic figures for April. Traffic in the month was 255,647 carloads, reflecting a 5.4% decline year over year. The company’s same railroad traffic (excluding carloads from the Continental European intermodal business sold in June 2018) inched down 0.3%.
Segmental Traffic
Traffic at the company’s North American operations increased 2.9% from the year-ago figure due to improvement in traffic across most segments. Also, traffic at intermodal, agricultural products, chemicals & plastics, minerals and stone, petroleum products and waste divisions was impressive. Meanwhile, segments like autos and auto parts, metallic ores, coal and coke reported a decline in traffic.
Australian operations’ (owned 51.1% by the company) traffic declined 10.6% primarily owing to 65.9% and 26.1% slump in traffic at agricultural products and petroleum products, each. Other segments like coal and coke, intermodal, minerals and stone also reported a fall in the metric.
Total traffic at U.K./European operations decreased 15.5% from the last April-level due to decline in traffic across all its segments, except agricultural products.
Notably, Genesee & Wyoming’s lackluster traffic numbers come close on the heels of its below-par first-quarter 2019 performance, wherein results were hurt by bad weather conditions. In the quarter, the company reported lower-than-expected earnings and revenues.
A glimpse of the company’s price performance over the past month reflects its struggles. Shares of Genesee & Wyoming have declined 1% against its industry's 2.7% growth.
Zacks Rank & Key Picks
Genesee & Wyoming carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the Zacks Transportation sector are SkyWest (SKYW - Free Report) , GATX Corporation (GATX - Free Report) and Trinity Industries (TRN - Free Report) . While SkyWest sports a Zacks Rank #1 (Strong Buy), GATX and Trinity carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of SkyWest and GATX have gained more than 2% and 3%, respectively, in a year’s time.
Trinity Industries has an impressive earnings surprise history, having outperformed the Zacks Consensus Estimate in three of the last four quarters, the average beat being 10.9%.
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Genesee & Wyoming reported disappointing traffic figures for April. Traffic in the month was 255,647 carloads, reflecting a 5.4% decline year over year. The company’s same railroad traffic (excluding carloads from the Continental European intermodal business sold in June 2018) inched down 0.3%.
Segmental Traffic
Traffic at the company’s North American operations increased 2.9% from the year-ago figure due to improvement in traffic across most segments. Also, traffic at intermodal, agricultural products, chemicals & plastics, minerals and stone, petroleum products and waste divisions was impressive. Meanwhile, segments like autos and auto parts, metallic ores, coal and coke reported a decline in traffic.
Australian operations’ (owned 51.1% by the company) traffic declined 10.6% primarily owing to 65.9% and 26.1% slump in traffic at agricultural products and petroleum products, each. Other segments like coal and coke, intermodal, minerals and stone also reported a fall in the metric.
Total traffic at U.K./European operations decreased 15.5% from the last April-level due to decline in traffic across all its segments, except agricultural products.
Notably, Genesee & Wyoming’s lackluster traffic numbers come close on the heels of its below-par first-quarter 2019 performance, wherein results were hurt by bad weather conditions. In the quarter, the company reported lower-than-expected earnings and revenues.
A glimpse of the company’s price performance over the past month reflects its struggles. Shares of Genesee & Wyoming have declined 1% against its industry's 2.7% growth.
Zacks Rank & Key Picks
Genesee & Wyoming carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the Zacks Transportation sector are SkyWest (SKYW - Free Report) , GATX Corporation (GATX - Free Report) and Trinity Industries (TRN - Free Report) . While SkyWest sports a Zacks Rank #1 (Strong Buy), GATX and Trinity carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of SkyWest and GATX have gained more than 2% and 3%, respectively, in a year’s time.
Trinity Industries has an impressive earnings surprise history, having outperformed the Zacks Consensus Estimate in three of the last four quarters, the average beat being 10.9%.
Will you retire a millionaire?
One out of every six people retires a multimillionaire. Get smart tips you can do today to become one of them in a new Special Report, “7 Things You Can Do Now to Retire a Multimillionaire.”
Click to get it free >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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