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Rail News: Financials

The Andersons' rail division drives up income, revenue in the third quarter


Yesterday, The Andersons Inc. reported a third-quarter net loss of $600,000 compared with net income of $1 million in third-quarter 2004. However, total revenue of $289 million rose 16 percent.

The Rail Group's quarterly operating income totaled $5.8 million, a 20 percent increase compared with third-quarter 2004. Revenue rose 30 percent to $23.2 million.

During 2005’s first nine months, The Andersons registered net income of $10.8 million and revenue of $912 million compared with $10.9 million and $897 million, respectively, during the same 2004 period. The Rail Group increased operating income 65 percent to $13.3 million, booted revenue 35 percent to $58.6 million and added more than 3,000 rail cars to its fleet, which now numbers 18,000.

The Andersons Rail Group provides rolling stock leasing and management, and car repair services, supplies rail components and fabricates steel.

Contact Progressive Railroading editorial staff.

More News from 11/4/2005