Short Lines

45-G permanence inches closer

(Source: Railway Age 02/15/2019) Written by William C. Vantuono, Editor-in-Chief On Feb. 11, HR 510, which calls for permanence of the 45-G short line tax credit, formally received its 100th co-sponsor. The bill, introduced Jan. 11 by Reps. Earl Blumenauer (D-Ore.) and Mike Kelly (R-Pa.), “has rapidly garnered significant bi-partisan support, as it has every Congress since…

Read More

G&W attributes Q4 operating income growth to North American operations

(Source: Progressive Railroading 02/07/2019) Genesee & Wyoming Inc. announced this week its fourth-quarter 2018 operating revenue rose 0.7 percent to $575.6 million from $571.6 million in Q4 2017. Operating income for the quarter slipped 0.8 percent to $105.7 million, while adjusted operating income climbed 5.6 percent to $109.9 million. Reported diluted earnings per share (EPS) fell…

Read More

Short-line tax credit bill introduced in Senate

(Source: Progressive Railroading 01/28/2019) A bill that would permanently extend the 45G short-line tax credit has been introduced in the Senate, the American Short Line and Regional Railroad Association(ASLRRA) announced late last week. The lead sponsors of S. 203 are U.S. Sens. Mike Crapo (R-Idaho) and Ron Wyden (D-Ore.). A nearly identical bill, H.R. 510, was introduced Jan. 11…

Read More

New Progressive Rail short line to lease, operate Oregon track

(Source: Progressive Railroading 08/22/2018) Progressive Rail Inc. has reached an agreement to lease an industrial lead track from Union Pacific Railroad in Clackamas, Oregon. The parties intend to consummate the proposed lease transaction on or about Aug. 31. Progressive Rail is seeking Surface Transportation Board approval to create Clackamas Valley Railway LLC (CVR) to lease and operate the 1.6-mile industrial…

Read More

G&W posts operating revenue, income growth in Q2

(Source: Progressive Railroading 07/30/2018) Genesee & Wyoming Inc. (G&W) reported second-quarter 2018 operating revenue rose 10 percent to $595 million from $540.4 million and operating income increased 3.4 percent to $103.1 million compared with the same quarter a year ago. The company’s reported diluted earnings per share (EPS) fell 1.4 percent to 0.73 cents per…

Read More