DARIEN, Conn.--(BUSINESS WIRE)--Genesee & Wyoming Inc. (G&W) (NYSE:GWR) today reported traffic volumes
for February 2017.
G&W’s traffic in February 2017 was 252,228 carloads, an increase of
27,572 carloads, or 12.3%, compared with February 2016. G&W’s
same-railroad traffic in February 2017 was 223,365 carloads, a decrease
of 1,291 carloads, or 0.6%, compared with February 2016.
G&W’s traffic in the first quarter of 2017 through February was 530,496
carloads, an increase of 87,409 carloads, or 19.7%, compared with the
first quarter of 2016 through February. G&W’s same-railroad traffic in
the first quarter of 2017 through February was 464,166 carloads, an
increase of 21,079 carloads, or 4.8%, compared with the first quarter of
2016 through February.
The table below sets forth summary total carloads by segment for
February 2017 and February 2016.
Segment
February 2017
February 2016
Change
% Change
North American Operations
126,488
125,476
1,012
0.8%
Australian Operations(1)
42,051
15,491
26,560
NM
U.K./European Operations
83,689
83,689
-
-
Total G&W Operations
252,228
224,656
27,572
12.3%
Carloads from New Railroads
28,863
Same-railroad carloads
223,365
224,656
(1,291)
(0.6%)
(1) 51.1% owned by G&W as of December 1, 2016.
February 2017 Highlights by Segment
North American Operations: Traffic in February 2017 was 126,488
carloads, an increase of 0.8% compared with February 2016, including
carloads from the Providence and Worcester Railroad Company (P&W)
acquisition, which closed on November 1, 2016. On a same-railroad
basis, North American traffic decreased 1.0%, primarily due to
decreased agricultural products and pulp & paper traffic, partially
offset by increased coal & coke traffic.
Australian Operations: Traffic in February 2017 was 42,051 carloads,
including carloads from the Glencore Rail (GRail) acquisition, which
closed on December 1, 2016. On a same-railroad basis, Australian
traffic decreased 0.2% primarily due to decreased minerals & stone
traffic, partially offset by increased metallic ores traffic. Please
note, simultaneous with the GRail acquisition, G&W issued a 48.9%
equity stake in its Australian Operations to Macquarie Infrastructure
and Real Assets. Carload information for the Australian Operations is
presented on a 100% basis.
U.K./European Operations: Traffic in February 2017 was 83,689
carloads, or flat compared with February 2016, primarily due to
increased minerals & stone traffic, partially offset by decreased
intermodal traffic.
The table below sets forth North American Operations carload information
for February 2017 and February 2016 by commodity group.
North American Operations:
February 2017
February 2016
Change
% Change
Agricultural Products
17,704
18,747
(1,043)
(5.6%)
Autos & Auto Parts
2,522
2,192
330
15.1%
Chemicals & Plastics
14,007
14,475
(468)
(3.2%)
Coal & Coke
21,290
16,395
4,895
29.9%
Food & Kindred Products
4,511
5,074
(563)
(11.1%)
Intermodal
664
-
664
NM
Lumber & Forest Products
10,654
11,212
(558)
(5.0%)
Metallic Ores
1,335
2,034
(699)
(34.4%)
Metals
11,511
11,986
(475)
(4.0%)
Minerals & Stone
14,759
14,087
672
4.8%
Petroleum Products
7,847
8,565
(718)
(8.4%)
Pulp & Paper
12,046
13,019
(973)
(7.5%)
Waste
3,263
2,574
689
26.8%
Other
4,375
5,116
(741)
(14.5%)
Total carloads
126,488
125,476
1,012
0.8%
Carloads from New Railroads(1)
2,267
Same-railroad carloads
124,221
125,476
(1,255)
(1.0%)
(1) Total carloads from P&W, which was acquired on November 1, 2016,
and contributed 340 carloads of autos & auto parts traffic, 413
carloads of chemicals & plastics traffic, 664 carloads of intermodal
traffic, 159 carloads of metals traffic, 239 carloads of minerals &
stone traffic and 452 carloads from all other commodities.
The following highlights relate to North American same-railroad traffic,
excluding traffic from P&W, which was acquired on November 1, 2016.
Agricultural products traffic decreased 1,140 carloads, or 6.1%,
primarily due to decreased shipments in G&W’s Midwest and Coastal
regions, partially offset by increased shipments in G&W’s Mountain
West and Central regions.
Pulp & paper traffic decreased 1,028 carloads, or 7.9%, primarily due
to decreased shipments in G&W’s Southern Region resulting from a
temporary shutdown of a customer facility following an incident in
late January 2017. The facility is currently expected to restart
production in the second quarter of 2017.
Coal & coke traffic increased 4,895 carloads, or 29.9%, primarily due
to increased shipments of utility coal in G&W’s Midwest Region.
All remaining traffic decreased by a net 3,982 carloads.
Note that severe weather and flooding in the western U.S. negatively
affected shipment volumes in G&W’s Pacific Region in February 2017 and
into March 2017.
The table below sets forth carload information for G&W’s 51.1% owned
Australian Operations for February 2017 and February 2016 by commodity
group.
Australian Operations(1):
February 2017
February 2016
Change
% Change
Agricultural Products
4,869
4,951
(82)
(1.7%)
Coal & Coke
26,596
-
26,596
NM
Intermodal
4,298
4,531
(233)
(5.1%)
Metallic Ores
1,872
784
1,088
NM
Minerals & Stone
4,404
5,200
(796)
(15.3%)
Petroleum Products
12
25
(13)
(52.0%)
Total carloads
42,051
15,491
26,560
NM
Carloads from New Railroads(2)
26,596
Same-railroad carloads
15,455
15,491
(36)
(0.2%)
(1) 51.1% owned by G&W as of December 1, 2016.
(2) Carloads from GRail, which was acquired on December 1, 2016, and
contributed 26,596 carloads of coal & coke traffic.
The following highlights relate to Australian same-railroad traffic,
excluding traffic from GRail, which was acquired on December 1, 2016.
Minerals & stone traffic decreased 796 carloads, or 15.3%, primarily
due to decreased gypsum shipments.
Metallic ores traffic increased 1,088 carloads primarily due to the
short-term re-opening of an iron ore mine.
All remaining traffic decreased by a net 328 carloads.
The table below sets forth U.K./European Operations carload information
for February 2017 and February 2016 by commodity group.
U.K./European Operations:
February 2017
February 2016
Change
% Change
Agricultural Products
488
186
302
NM
Coal & Coke
3,374
3,379
(5)
(0.1%)
Intermodal
68,649
69,507
(858)
(1.2%)
Lumber & Forest Products
-
90
(90)
NM
Minerals & Stone
11,178
10,527
651
6.2%
Total carloads
83,689
83,689
-
-
Minerals & stone traffic increased 651 carloads, or 6.2%, primarily
due to increased shipments in Poland.
Intermodal traffic decreased by 858 carloads, or 1.2%, split
approximately evenly between the U.K. and continental Europe.
All remaining traffic increased by a net 207 carloads.
First Quarter of 2017 Through February Traffic
The table below sets forth summary total carloads by segment for the
first quarter of 2017 through February and the first quarter of 2016
through February.
Segment
QTD Feb 2017
QTD Feb 2016
Change
% Change
North American Operations
265,039
249,892
15,147
6.1%
Australian Operations
94,028
30,586
63,442
NM
U.K./European Operations
171,429
162,609
8,820
5.4%
Total G&W Operations
530,496
443,087
87,409
19.7%
Carloads from New Railroads
66,330
Same-railroad carloads
464,166
443,087
21,079
4.8%
February and the first quarter of 2016 through February by commodity
group.
North American Operations:
QTD Feb 2017
QTD Feb 2016
Change
% Change
Agricultural Products
37,598
36,361
1,237
3.4%
Autos & Auto Parts
5,279
3,992
1,287
32.2%
Chemicals & Plastics
29,842
28,614
1,228
4.3%
Coal & Coke
43,697
34,794
8,903
25.6%
Food & Kindred Products
9,487
9,784
(297)
(3.0%)
Intermodal
1,173
-
1,173
NM
Lumber & Forest Products
21,336
22,052
(716)
(3.2%)
Metallic Ores
3,076
4,122
(1,046)
(25.4%)
Metals
23,239
22,862
377
1.6%
Minerals & Stone
30,234
27,002
3,232
12.0%
Petroleum Products
17,058
17,465
(407)
(2.3%)
Pulp & Paper
26,017
27,726
(1,709)
(6.2%)
Waste
7,148
5,071
2,077
41.0%
Other
9,855
10,047
(192)
(1.9%)
Total carloads
265,039
249,892
15,147
6.1%
Carloads from New Railroads(1)
5,066
Same-railroad carloads
259,973
249,892
10,081
4.0%
(1) Total carloads from P&W, which was acquired on November 1, 2016,
and contributed 768 carloads of autos & auto parts traffic, 809
carloads of chemicals & plastics traffic, 1,173 carloads of
intermodal traffic, 672 carloads of minerals & stone traffic, 405
carloads of metals traffic and 1,239 carloads from all other
commodities.
The table below sets forth carload information for G&W’s 51.1% owned
Australian Operations for the first quarter of 2017 through February and
the first quarter of 2016 through February by commodity group.
Australian Operations(1):
QTD Feb 2017
QTD Feb 2016
Change
% Change
Agricultural Products
10,071
8,994
1,077
12.0%
Coal & Coke
61,264
0
61,264
NM
Intermodal
8,758
8,940
(182)
(2.0%)
Metallic Ores
3,770
1,600
2,170
NM
Minerals & Stone
10,141
11,016
(875)
(7.9%)
Petroleum Products
24
36
(12)
(33.3%)
Total carloads
94,028
30,586
63,442
NM
Carloads from New Railroads(2)
61,264
Same-railroad carloads
32,764
30,586
2,178
7.1%
(1) 51.1% owned by G&W as of December 1, 2016.
(2) Carloads from GRail, which was acquired on December 1, 2016, and
contributed 61,264 carloads of coal & coke traffic.
The table below sets forth U.K./European Operations carload information
for the first quarter of 2017 through February and the first quarter of
2016 through February by commodity group.
U.K./European Operations:
QTD Feb 2017
QTD Feb 2016
Change
% Change
Agricultural Products
1,050
251
799
NM
Coal & Coke
7,465
7,412
53
0.7%
Intermodal
143,698
136,752
6,946
5.1%
Lumber & Forest Products
-
135
(135)
NM
Minerals & Stone
19,216
18,059
1,157
6.4%
Total carloads
171,429
162,609
8,820
5.4%
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, income from
operations 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
Genesee & Wyoming owns or leases 122 freight railroads worldwide that
are organized in 10 operating regions with approximately 7,300 employees
and 3,000 customers.
G&W’s eight 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 provides rail freight services in New South
Wales, including in the Hunter Valley coal supply chain, the Northern
Territory and South Australia, including operating 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 U.K./Europe Region is led by Freightliner, the U.K.’s largest
rail maritime intermodal operator and second-largest rail freight
company. Operations also include heavy-haul in Poland and Germany and
cross-border intermodal services connecting Northern European seaports
with key industrial regions throughout the continent.
G&W subsidiaries provide rail service at more than 40 major ports in
North America, Australia and Europe and perform contract coal loading
and railcar switching for industrial customers.