Rumo S.A. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 09, 2023
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Rumo S.A. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported net income was BRL 167.28 million compared to BRL 33.9 million a year ago. Basic earnings per share from continuing operations was BRL 0.0903 compared to BRL 0.01831 a year ago. Diluted earnings per share from continuing operations was BRL 0.09007 compared to BRL 0.01825 a year ago.
For the six months, net income was BRL 240.43 million compared to net loss of BRL 32.73 million a year ago. Basic earnings per share from continuing operations was BRL 0.12979 compared to basic loss per share from continuing operations of BRL 0.01767 a year ago. Diluted earnings per share from continuing operations was BRL 0.12945 compared to diluted loss per share from continuing operations of BRL 0.01767 a year ago.
Rumo SA is a Brazil-based company primarily engaged in the cargo transportation sector. Through its subsidiaries, the Company operates in the rail transportation segment in the Southern and the Midwest regions of Brazil, with rail network that consists of five concessions with approximately 13,500 km of railroad tracks. Rumo SA manages also transshipment terminals located in the states of Mato Grosso, Sao Paulo, Parana, and Rio Grande do Sul, as well as port elevation in terminal in Porto de Santos. In addition, through Brado Logistica e Participacoes SA, it is engaged in container operations. The Company offers transportation of agricultural commodities, fuel and final goods, intermodal freight transport, integrated warehousing services, port operations and handling of merchandises, among others.