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Rail News Home Financials

12/8/2005



Rail News: Financials

Florida East Coast expects more railway revenue, profits by year end


Today, Florida East Coast Industries Inc. announced Florida East Coast Railway’s (FECR) 2005 revenue will be higher than originally estimated.

Revenue will range between $230 million and $235 million — an increase of up to 17 percent compared with 2004 — and operating profit will total between $59 million and $61 million, an increase of up to 29 percent compared with last year.

The new estimates also take into account impacts from Hurricana Wilma, which shut down the 351-mile regional for two weeks in fall. FECR’s fourth-quarter revenue is expected to decrease between $1.5 million and $2.5 million. The railroad will incur about $2.5 million to $3 million in incremental storm-related expenses, such as clean up, property damage, grade crossing operations and support, and additional crews.


Contact Progressive Railroading editorial staff.

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