RailAmerica, operator of 43 small railroads in the U.S. and Canada, saw profit in the third quarter rise 13.7 percent year-over-year, as increased pricing, productivity and non-freight revenue offset a traffic decrease.
The Jacksonville, Fla.-based company’s profit rose to $9.1 million against a 9 percent year-over-year increase in revenue to $139.7 million. Freight revenue increased 7 percent year-over-year to $104.7 million, while carload traffic fell 6 percent to 206,975 loads from the same period a year ago.
Non-freight revenue from RailAmerica’s rail construction and dispatching companies grew 14 percent year-over-year to $35 million. The company’s operating costs rose 6.8 percent year-over-year to $108.2 million because of higher prices for labor, fuel, equipment rentals, material, and labor and benefits.