RailAmerica revenue and earnings rise
Written by William C. Vantuono, Editor-in-ChiefRailAmerica, Inc. third-quarter revenue increased 7% to $104.7 million with average revenue per car up 14% and carloads down 6%, the company announced Tuesday. Non-freight revenue increased 14% to $35.0 million.
RailAmerica President CEO John Giles said: “This was another strong quarter for us. Operating income excluding 45G credits, impairments and asset sales increased 10%. We achieved these results through our continuing focus on pricing, non-freight revenue, and productivity. Our success in these areas allowed us to perform well despite lower carloads and the temporary disruption of service on our New England Central Railroad from Hurricane Irene.”
RailAmerica reported third-quarter 2011 income from continuing operations of $9.1 million, or $0.17 per diluted share. This compares with $8.0 million, or $0.15 per diluted share, in the third quarter of 2010.
