Darien’s Genesee & Wyoming, which owns Hartford-based Connecticut Southern Railroad and others across the continent and Australia, said its third-quarter profits grew nearly 11 percent, thanks to higher revenue from its North American rail freight operations.
G&W reported profits of $72.7 million, or $1.27 per diluted share, up from $65.7 million, or $1.16, in the third quarter last year.
Operating revenue grew by $31.1 million, or 7.7 percent, to $432.5 million. Operating expenses grew by $9.8 million, while interest expense shrank by more than $3 million.
G&W said its Australian business, which represents approximately 20 percent of overall revenue, was weaker during the quarter.
