From Yahoo Finance: 2025-05-05 10:29:00

Grupo Mexico’s transportation division, which includes several railways, reported a sharp decline in first-quarter revenue and profits due to decreased automotive and minerals traffic. Operating income fell 18.5% to $225 million, with revenue down 12.1% to $778 million. Net income dropped 21% to $112 million, with an operating ratio of 76.4%.

Volume decreased by 6.1% in carloads and 14.2% in tons per kilometer. Automotive traffic fell by 21% and minerals traffic by 20%, driving the volume decline. However, intermodal volume grew by 4.9%, with cross-border traffic increasing and demand recovering on the FEC.

Despite the overall decline, GMXT’s key operational metrics improved in the quarter, including increased train speeds, decreased terminal dwell, and higher train length and weight. This positive trend is a bright spot in an otherwise challenging period for the company’s rail operations.

Read more: Grupo Mexico rail operations earnings plunge as volume drops