Grupo Mexico’s transportation division — which includes Ferromex, Ferrosur, Florida East Coast Railway and Texas Pacifico — reported sharply lower first-quarter revenue and profits as a plunge in automotive and minerals traffic drove an overall volume decline.
For the quarter, GMXT’s operating income declined 18.5%, to $225 million, as revenue declined 12.1%, to $778 million, the company reported recently. Net income sank 21%, to $112 million. The operating ratio was 76.4%.
Volume fell 6.1% when measured by carloads, or 14.2% on the basis of tons per kilometer. A 21% decline in automotive traffic and a 20% drop in minerals traffic led the volume decline.
Intermodal volume grew 4.9%, however, as cross-border traffic rose and demand recovered on the FEC.
GMXT’s key operational metrics all improved for the quarter, with train speeds up, terminal dwell down, and train length and weight both increasing.
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The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowThe night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowIndustry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
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