SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 11, 2002
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GENESEE & WYOMING INC.
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(Exact Name of registrant specified in its charter)
Delaware 001-31456 06-0984624
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(State or other Jurisdiction (Commission File (I.R.S. Employer
of Incorporation) Number) Identification No.)
66 Field Point Road
Greenwich, Connecticut 06830
(Address of principal executive offices)
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Registrant's telephone number: (203) 629-3722
Item 5. Other Events.
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On October 11, 2002, Genesee & Wyoming Inc. (NYSE: GWR) commented on the
financial effect of Hurricane Isidore, which struck its Mexican railroad
operations on September 23rd, 2002, and Hurricane Lili, which struck its
Louisiana railroad operations on October 3rd, 2002.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
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(c) Exhibits.
The exhibits listed below and in the accompanying Exhibit Index are filed
as part of this Current Report on Form 8-K.
EXHIBIT NO. DESCRIPTION
99.1 Press Release commenting on Effect of Hurricanes in Mexico
and Louisiana.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
GENESEE & WYOMING INC.
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(Registrant)
By: /s/ John C. Hellmann
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Name: John C. Hellmann
Title: Chief Financial Officer
October 11, 2002
INDEX TO EXHIBITS
Exhibit Number Description
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99.1 Press Release Commenting on Effect of Hurricanes
in Mexico and Louisiana.
Exhibit 99.1
Genesee & Wyoming Comments on Effect of Recent
Hurricanes in Mexico and Louisiana
GREENWICH, Conn., October 11, 2002 /PRNewswire/ -- Genesee & Wyoming Inc.
(GWI) (NYSE: GWR) commented today on the financial effect of Hurricane
Isidore, which struck its Mexican railroad operations on September 23rd, and
Hurricane Lili, which struck its Louisiana railroad operations on October 3rd.
GWI estimates that the negative impact of Hurricane Isidore on diluted
earnings per share will be approximately $0.03 in the third quarter and
approximately $0.01 in the fourth quarter due to lost revenue and track repair
on the Yucatan Peninsula. GWI expects that Hurricane Lili will not have a
material impact on its financial results, despite damage to the sugar cane
crop in Louisiana.
GWI expects third quarter diluted earnings per share between $0.39
and $0.41, versus consensus analyst estimates of $0.43. GWI is scheduled to
report complete financial results for the third quarter of 2002 on Wednesday,
October 30th.
In Mexico, where segments of track between Coatzacoalcos and Merida
were temporarily under water, rail shipments are expected to resume on October
11th. GWI estimates that its Mexican subsidiary has lost approximately $2
million in revenue and has spent approximately $500,000 on track repairs. The
Company expects that catch-up shipments of petroleum products may increase in
the latter part of the fourth quarter and that shipments of cement may also
increase in order to aid the reconstruction of damaged property.
GWI is a leading operator of shortline and regional freight railroads
in the United States, Canada, Mexico, Australia and Bolivia, and provides
freight car switching and related services to industrial companies that have
extensive railroad facilities within their complexes. The Company operates in
five countries on three continents over more than 8,000 miles of owned and
leased track. It also operates over an additional 3,000 miles under track
access arrangements.
This press release contains forward-looking statements regarding
future events and the future performance of Genesee & Wyoming Inc. that
involve risks and uncertainties that could cause actual results to differ
materially including, but not limited to, economic conditions, customer
demand, increased competition in relevant markets, and others. The Company
refers you to the documents that Genesee & Wyoming Inc. files from time to
time with the Securities and Exchange Commission, such as the Company's Forms
10-Q and 10-K which contain additional important factors that could cause its
actual results to differ from its current expectations and from the
forward-looking statements contained in this press release.
SOURCE: Genesee & Wyoming Inc.
CONTACT: John C. Hellmann, Chief Financial Officer, Genesee & Wyoming Inc.
203-629-3722 Web site: http://www.gwrr.com/