Genesee & Wyoming Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2017; Revises Earnings Guidance for the Fourth Quarter of 2017; Provides CapEx Guidance for Full Year of 2017
For the nine months, the company reported operating revenues were $1,636,468,000 against $1,484,993,000 a year ago. Operating income was $290,283,000 against $236,041,000 a year ago. Income before income taxes was $210,834,000 against $186,766,000 a year ago. Net income was $128,802,000 against $132,203,000 a year ago. Net income attributable to the company was $122,485,000 compared to $132,203,000 a year ago. Diluted earnings per share attributable to the company's common stockholders were $1.96 against $2.28 a year ago. Net cash provided by operating activities was $350,389,000 against $303,583,000 a year ago. Purchase of property and equipment was $149,105,000 against $159,523,000 a year ago. Free cash flow and free cash flow attributable to the company was $230.4 million against $187.6 million a year ago.
The company revised earnings guidance for the fourth quarter of 2017. For the quarter, the company expects revenues of approximately $560 million to $575 million at an operating ratio between 80% and 81%. Net interest expense should be $28 million, and expects a tax rate of approximately 40%. The bottom line is that the company is expecting diluted EPS of approximately $0.75. This outlook is about $0.05 lower than the guidance as previously provided.
For 2017, company expects core CapEx is about $210 million.