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Rail News: Financials

Providence and Worcester increases income, revenue in 2005

Last year, the Providence and Worcester Railroad Co. (PWRR) generated operating revenue of $26.7 million, a 7.2 percent increase compared with 2004. The 545-mile regional boosted average revenue per carload and container by increasing rates and fuel surcharges, and shifting its traffic mix toward higher-priced commodities.

PWRR also earned annual net income of $1.3 million, a 30 percent increase compared with 2004. Diluted income per share rose five cents to 28 cents.

However, annual operating expenses increased 4.8 percent to $26 million primarily because fuel costs rose $666,000 compared with 2004.

PWRR moves traffic over lines in New York, Connecticut, Massachusetts and Rhode Island, and operates two intermodal yards in Worcester, Mass.

Contact Progressive Railroading editorial staff.

More News from 3/27/2006