(The Associated Press circulated the following on June 11, 2009.)
GREENWICH, Conn. — Railroad company Genesee & Wyoming Inc. lowered its second-quarter forecasts for earnings from continuing operations and revenue on Thursday, citing declining traffic.
The regional freight railroad operator now expects earnings from continuing operations of 35 cents to 37 cents per share. Its prior guidance called for earnings of about 45 cents per share.
Analysts polled by Thomson Reuters, whose estimates generally exclude one-time items, predict second-quarter earnings of 45 cents per share.
Genesee & Wyoming cut its revenue outlook to approximately $130 million, down from its prior forecast for revenue between $140 million and $145 million.
The company owns and operates short line and regional freight railroads in the United States, Canada, Australia and the Netherlands and owns a minority interest in a railroad in Bolivia.