(The Associated Press issued the following on November 13.)
NEW YORK — Freight railroad operator Genesee & Wyoming Inc. said Thursday that October traffic rose 20.6 percent because of acquisitions the company made.
However, without the railroads acquired in the past year, traffic by carloads would have fallen 6.3 percent, the company said.
Genesee & Wyoming said traffic from continuing operations rose to 81,528 carloads from 67,616 a year before.
The total was helped by 18,178 carloads from railroads acquired within the past year. Genesee said same-railroad traffic in October fell by 4,266 carloads, or 6.3 percent, mostly due to reduced coal shipments in the Rocky Mountains because of a mine closure in February.
In the past year, the company has acquired The Maryland Midland Railway, CAGY Industries, and the Georgia Southwestern Railroad and the Ohio Central Railroad System.
Including the new railroads, shipments of coal, coke and ores _ about one-fourth of Genesee traffic _ rose 13 percent, and shipments of minerals and stone jumped 33 percent. Minerals and stone accounted for 18 percent of overall traffic.
Shipments of pulp and paper, the company’s third-biggest commodity category, fell 2 percent from a year ago.
The company said carload information may predict freight revenues but not expenses or net income.
Genesee owns and operates short line and regional freight railroads in the United States, Canada, Australia and the Netherlands.
Shares of Genesee & Wyoming fell 40 cents to $29.81 in morning trading. Top of page