Florida East Coast Railway reported profit in the first quarter of 2013 of $4.2 million, compared with a net loss of $4.5 million in the same quarter last year.
Quarterly operating revenue for the railroad was $68.8 million, increasing almost 20 percent from $57.3 million in the first quarter of 2012. Freight revenue — including revenue from intermodal, crushed stone, food products, motor vehicles and equipment, chemicals and other divisions — rose 24 percent year-over-year, reaching $65.4 million. Non-freight revenue in the first quarter dropped 25 percent year-over-year to $3.4 million.
FEC’s operating ratio in the first quarter was a record 70.4 percent.