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Providence and Worcester Railroad Co (PWX) filed Amended Quarterly Report for the period ended 2011-09-30.
Providence And Worcester Railroad Company has a market cap of $56 million; its shares were traded at around $11.61 with and P/S ratio of 2.4. The dividend yield of Providence And Worcester Railroad Company stocks is 1.4%.
This is the annual revenues and earnings per share of PWX over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of PWX.
Highlight of Business Operations:
Operating revenues increased $1.7 million, or 8%, to $22.9 million in the nine months ended September 30, 2011 from $21.2 million in 2010. This increase is the result of a $1.5 million (7.7%) increase in conventional freight revenues, a $55,000 (10.7%) increase in container freight revenues, a $54,000 (12.5%) increase in other freight-related revenues, and an $86,000 (12.8%) increase in other operating revenues.The increase in conventional freight revenues results from a 1.4% rise in traffic volume and a 6.3% increase in the average revenue received per conventional carloading. The Company s conventional carloadings increased by 357 to 26,395 in the nine-month period ended September 30, 2011 from 26,038 in 2010.
The increase in container freight revenues is the result of a 4.7% increase in traffic volume and a 4.9% increase in the average revenue received per container. Container traffic volume increased by 373 to 8,251 in the first nine months of 2011 from 7,878 containers in 2010. This increase in traffic, along with improved economic conditions, contributed to the increase in the average revenue received per container.
The increase in conventional freight revenues is attributable to a 8.4% increase in the average revenue received per conventional carloading and a 1.8% increase in conventional traffic volume. Conventional carloading increased by 176 to 9,949 in the third quarter of 2011 from 9,773 in the third quarter of 2010. The reasons for the increase in average revenue received per carloading and the increase in conventional traffic volume are the same as for the nine-month period ended September 30, 2011, as previously discussed.
The reason for the increase in other freight-related revenues is the same as for the nine-month period ended September 30, 2011, as previously discussed.
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