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Genesee & Wyoming Reports Traffic for April 2018

Category:

Monday, May 14, 2018 6:30 am EDT

Dateline:

DARIEN, Conn.

Public Company Information:

NYSE:
GWR
US3715591059

DARIEN, Conn.--(BUSINESS WIRE)--Genesee & Wyoming Inc. (G&W) (NYSE:GWR) today reported traffic volumes for April 2018.

G&W’s traffic in April 2018 was 270,101 carloads, an increase of 9,661 carloads, or 3.7%, compared with April 2017. G&W’s same-railroad traffic in April 2018 was 269,583 carloads, an increase of 9,143 carloads, or 3.5%, compared with April 2017.

The table below sets forth summary total carloads by segment.

Segment      

April

2018

   

April

2017

    Change    

%

Change

North American Operations 135,938 129,087 6,851 5.3%
Australian Operations(1) 48,229 49,521 (1,292) (2.6%)
U.K./European Operations 85,934 81,832 4,102 5.0%
Total G&W Operations 270,101 260,440 9,661 3.7%
Carloads from New Railroads 518
Same-railroad carloads 269,583 260,440 9,143 3.5%

(1) 51.1% owned by G&W.

 

Highlights by Segment

  • North American Operations: Traffic in April 2018 was 135,938 carloads, an increase of 5.3% compared with April 2017, including carloads from the Heart of Georgia Railroad, Inc. (HOG), which was acquired on May 31, 2017. On a same-railroad basis, North American traffic increased 4.9%, primarily due to increased coal & coke and minerals & stone traffic.
  • Australian Operations: Traffic in April 2018 was 48,229 carloads, a decrease of 2.6% compared with April 2017, primarily due to decreased metallic ores and coal & coke traffic. Carload information for G&W’s 51.1% owned Australian Operations is presented on a 100% basis.
  • U.K./European Operations: Traffic in April 2018 was 85,934 carloads, an increase of 5.0% compared with April 2017, primarily due to increased minerals & stone traffic in the U.K. and Poland.

The table below sets forth North American Operations carload information by commodity group.

North American Operations:       April 2018     April 2017     Change     % Change
Agricultural Products 17,054 17,385 (331) (1.9%)
Autos & Auto Parts 3,082 3,123 (41) (1.3%)
Chemicals & Plastics 14,289 14,922 (633) (4.2%)
Coal & Coke 19,029 16,362 2,667 16.3%
Food & Kindred Products 4,881 4,854 27 0.6%
Intermodal 1,366 695 671 96.5%
Lumber & Forest Products 12,274 11,816 458 3.9%
Metallic Ores 1,418 1,370 48 3.5%
Metals 12,517 11,371 1,146 10.1%
Minerals & Stone 19,051 16,852 2,199 13.0%
Petroleum Products 7,563 7,543 20 0.3%
Pulp & Paper 13,079 12,808 271 2.1%
Waste 4,445 4,138 307 7.4%
Other 5,890 5,848 42 0.7%
Total carloads 135,938 129,087 6,851 5.3%
Carloads from New Railroads(1) 518
Same-railroad carloads 135,420 129,087 6,333 4.9%

(1) Total carloads from HOG, which contributed 303 carloads of lumber & forest products traffic and 215 carloads from all other commodities.

 

The following highlights relate to North American same-railroad traffic, excluding traffic from HOG, which was acquired on May 31, 2017.

  • Coal & coke traffic increased 2,667 carloads, or 16.3%, primarily due to increased shipments in G&W’s Central Region, partially offset by decreased shipments in G&W’s Midwest Region.
  • Minerals & stone traffic increased 2,194 carloads, or 13.0%, primarily due to increased shipments of construction aggregates and frac sand in G&W’s Northeast Region and construction aggregates in G&W’s Coastal Region.
  • All remaining traffic increased by a net 1,472 carloads.

The table below sets forth carload information for G&W’s 51.1% owned Australian Operations by commodity group.

Australian Operations (1) :      

April

2018

   

April

2017

    Change    

%

Change

Agricultural Products 5,060 4,823 237 4.9%
Coal & Coke 31,376 32,015 (639) (2.0%)
Intermodal 4,266 4,535 (269) (5.9%)
Metallic Ores 1,886 2,658 (772) (29.0%)
Minerals & Stone 5,618 5,472 146 2.7%
Petroleum Products 23 18 5 27.8%
Total carloads 48,229 49,521 (1,292) (2.6%)

(1) 51.1% owned by G&W.

 
  • Metallic ores traffic decreased 772 carloads, or 29.0%, primarily due to the planned, temporary shutdown of an iron ore mine in October 2017.
  • Coal & coke traffic decreased 639 carloads, or 2.0%.
  • All remaining traffic increased by a net 119 carloads.

The table below sets forth U.K./European Operations carload information by commodity group.

U.K./European Operations:      

April

2018

   

April

2017

    Change    

%

Change

Agricultural Products 146 313 (167) (53.4%)
Coal & Coke 1,251 1,924 (673) (35.0%)
Intermodal 68,210 66,465 1,745 2.6%
Minerals & Stone 16,327 13,130 3,197 24.3%
Total carloads 85,934 81,832 4,102 5.0%
 
  • Minerals & stone traffic increased 3,197 carloads, or 24.3%, primarily due to increased shipments in the U.K. and Poland.
  • All remaining traffic increased by a net 905 carloads.

Other

The term carload represents physical railcars and estimated railcar equivalents of commodities for which G&W is paid on a metric ton or other measure to move freight, as well as intermodal units.

Historically, G&W has found that traffic information may be indicative of freight revenues on its railroads. Freight revenues are revenues for which G&W is paid on a per car, per container or per metric ton basis to move freight. Activities such as railcar switching, port terminal shunting, traction services and other similar freight-related services are excluded from our traffic information as the resulting revenues are not classified as freight revenue. Traffic information may not be indicative of total operating revenues, operating expenses, operating income or net income. Please refer to the documents G&W files from time to time with the Securities and Exchange Commission, such as its Form 10-Q and 10-K, which contain additional information on G&W’s freight traffic and segment reporting.

About G&W

G&W owns or leases 122 freight railroads organized in nine locally managed operating regions with 8,000 employees serving 3,000 customers.

  • G&W’s seven North American regions serve 41 U.S. states and four Canadian provinces and include 115 short line and regional freight railroads with more than 13,000 track-miles.
  • G&W’s Australia Region serves New South Wales, the Northern Territory and South Australia and operates the 1,400-mile Tarcoola-to-Darwin rail line. The Australia Region is 51.1% owned by G&W and 48.9% owned by a consortium of funds and clients managed by Macquarie Infrastructure and Real Assets.
  • G&W’s UK/Europe Region includes the U.K.’s largest rail maritime intermodal operator and second-largest freight rail provider, as well as regional rail services in Continental Europe.

G&W subsidiaries and joint ventures also provide rail service at more than 40 major ports, rail-ferry service between the U.S. Southeast and Mexico, transload services, contract coal loading, and industrial railcar switching and repair.

For more information, visit gwrr.com.

Contact:

Genesee & Wyoming Inc.
Thomas D. Savage, 1-203-202-8900
Senior Vice President – Corporate Development & Treasurer
Web Site: http://www.gwrr.com

NYSE: GWR