Genesee & Wyoming Inc. (G&W) (NYSE:GWR) today reported
traffic volumes for September 2016 and the third quarter of
2016.
G&W’s traffic in September 2016 was 244,796 carloads, a
decrease of 9,498 carloads, or 3.7%, compared with September
2015.
G&W’s traffic in the third quarter of 2016 was 739,814
carloads, a decrease of 32,836 carloads, or 4.2%, compared with the
third quarter of 2015.
The table below sets forth summary total carloads by segment for
September 2016 and September 2015.
Segment
September2016
September2015
Change
%Change
North American Operations 132,329 137,665 (5,336) (3.9%) Australian
Operations 14,084 14,797 (713) (4.8%) U.K./European Operations
98,383 101,832 (3,449) (3.4%) Total G&W Operations 244,796
254,294 (9,498) (3.7%)
September 2016 Highlights by Segment
- North American Operations: Traffic in
September 2016 was 132,329 carloads, a decrease of 3.9% compared
with September 2015. The decrease was primarily due to reduced coal
& coke, pulp & paper and chemicals & plastics
traffic.
- Australian Operations: Traffic in
September 2016 was 14,084 carloads, a decrease of 4.8% compared
with September 2015. The decrease was primarily due to reduced
metallic ores traffic.
- U.K./European Operations: Traffic in
September 2016 was 98,383 carloads, a decrease of 3.4% compared
with September 2015. The decrease was primarily due to reduced
intermodal and coal & coke traffic.
The table below sets forth North American Operations carload
information for September 2016 and September 2015 by commodity
group.
North American Operations:
September2016
September2015
Change
%Change
Agricultural Products 17,491 16,626 865 5.2% Autos & Auto Parts
2,580 2,315 265 11.4% Chemicals & Plastics 13,462 14,649
(1,187) (8.1%) Coal & Coke 20,988 24,141 (3,153) (13.1%) Food
& Kindred Products 5,463 5,184 279 5.4% Intermodal 94 60 34 NM
Lumber & Forest Products 11,675 11,777 (102) (0.9%) Metallic
Ores 1,359 1,906 (547) (28.7%) Metals 11,355 11,217 138 1.2%
Minerals & Stone 17,656 18,178 (522) (2.9%) Petroleum Products
8,111 8,242 (131) (1.6%) Pulp & Paper 13,201 14,837 (1,636)
(11.0%) Waste 4,374 3,688 686 18.6% Other 4,520 4,845 (325) (6.7%)
Total carloads 132,329 137,665 (5,336) (3.9%)
- North American Operations traffic
decreased 5,336 carloads, or 3.9%.
- Coal & coke traffic decreased 3,153
carloads, or 13.1%, primarily due to decreased shipments of utility
coal in G&W’s Central and Northeast regions.
- Pulp & paper traffic decreased
1,636 carloads, or 11.0%, primarily due to decreased shipments in
the Southern, Northeast and Canada regions.
- Chemicals & plastic traffic
decreased 1,187 carloads, or 8.1%, with decreased shipments across
most regions.
- All remaining traffic increased by a
net 640 carloads.
The table below sets forth Australian Operations carload
information for September 2016 and September 2015 by commodity
group.
Australian Operations:
September2016
September2015
Change
%Change
Agricultural Products 2,896 3,068 (172) (5.6%) Intermodal 4,916
5,156 (240) (4.7%) Metallic Ores 1,267 1,690 (423) (25.0%) Minerals
& Stone 4,977 4,854 123 2.5% Petroleum Products 28 29 (1)
(3.4%) Total carloads 14,084 14,797 (713) (4.8%)
The decrease in Australian Operations traffic was primarily due
to reduced metallic ores shipments from the previously announced
closure of a manganese mine in 2015, partially offset by the
short-term re-opening of an iron ore mine in 2016.
The table below sets forth U.K./European Operations carload
information for September 2016 and September 2015 by commodity
group.
U.K./European Operations:
September2016
September2015
Change
%Change
Agricultural Products 246 38 208 NM Coal & Coke 3,275 5,460
(2,185) (40.0%) Intermodal 79,514 81,823 (2,309) (2.8%) Minerals
& Stone 15,348 14,511 837 5.8% Total carloads 98,383 101,832
(3,449) (3.4%)
- U.K./European Operations traffic
decreased 3,449 carloads, or 3.4%.
- Intermodal traffic decreased 2,309
carloads, or 2.8%, primarily due to congestion at the Port of
Felixstowe in the U.K.
- Coal & coke traffic decreased 2,185
carloads, or 40.0%, primarily due to decreased shipments in the
U.K. and Poland.
- All remaining traffic increased by a
net 1,045 carloads.
Third Quarter of 2016 Traffic
The table below sets forth summary total carloads by segment for
the third quarter of 2016 and the third quarter of 2015.
Segment Q3 2016
Q3 2015 Change
%Change
North American Operations 401,999 419,571 (17,572) (4.2%)
Australian Operations 43,532 48,532 (5,000) (10.3%) U.K./European
Operations 294,283 304,547 (10,264) (3.4%) Total G&W Operations
739,814 772,650 (32,836) (4.2%)
The table below sets forth North American Operations carload
information for the third quarter of 2016 and the third quarter of
2015 by commodity group.
North American Operations: Q3
2016 Q3 2015 Change
%Change
Agricultural Products 54,024 51,010 3,014 5.9% Autos & Auto
Parts 7,035 6,997 38 0.5% Chemicals & Plastics 42,402 43,829
(1,427) (3.3%) Coal & Coke 63,028 71,197 (8,169) (11.5%) Food
& Kindred Products 15,557 15,261 296 1.9% Intermodal 112 66 46
NM Lumber & Forest Products 35,253 34,770 483 1.4% Metallic
Ores 4,536 6,291 (1,755) (27.9%) Metals 31,978 34,507 (2,529)
(7.3%) Minerals & Stone 53,530 56,977 (3,447) (6.0%) Petroleum
Products 24,959 25,242 (283) (1.1%) Pulp & Paper 41,721 45,270
(3,549) (7.8%) Waste 13,420 11,453 1,967 17.2% Other 14,444 16,701
(2,257) (13.5%) Total carloads 401,999 419,571 (17,572) (4.2%)
The table below sets forth Australian Operations carload
information for the third quarter of 2016 and the third quarter of
2015 by commodity group.
Australian Operations: Q3 2016
Q3 2015 Change
%Change
Agricultural Products 8,624 11,442 (2,818) (24.6%) Intermodal
15,417 16,045 (628) (3.9%) Metallic Ores 4,846 5,724 (878) (15.3%)
Minerals & Stone 14,567 15,224 (657) (4.3%) Petroleum Products
78 97 (19) (19.6%) Total carloads 43,532 48,532 (5,000) (10.3%)
The table below sets forth U.K./European Operations carload
information for the third quarter of 2016 and the third quarter of
2015 by commodity group.
U.K./European Operations: Q3
2016 Q3 2015 Change
%Change
Agricultural Products 652 169 483 NM Coal & Coke 9,276 17,678
(8,402) (47.5%) Intermodal 239,055 243,161 (4,106) (1.7%) Minerals
& Stone 45,300 43,539 1,761 4.0% Total carloads 294,283 304,547
(10,264) (3.4%)
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.
G&W’s three reportable segments are summarized as
follows:
- The North American Operations segment
is comprised of eight operating regions in the U.S. and Canada.
This segment represents approximately 60% of G&W’s total
operating revenues and approximately 80% of G&W’s total income
from operations.
- The Australian Operations segment is
comprised of operations in South Australia, the Northern Territory
and New South Wales. This segment represents approximately 10% of
G&W’s total operating revenues and approximately 10% of
G&W’s total income from operations.
- The U.K./European Operations segment is
comprised of operations in the U.K. and continental Europe. This
segment represents approximately 30% of G&W’s total operating
revenues and approximately 10% of G&W’s total income from
operations.
About G&W
Genesee & Wyoming owns or leases 121 freight railroads
worldwide that are organized in 10 operating regions with
approximately 7,200 employees and more than 2,800 customers.
- G&W’s eight North American regions
serve 41 U.S. states and four Canadian provinces and include 114
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, the Northern Territory
and South Australia and operates the 1,400-mile Tarcoola-to-Darwin
rail line.
- 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.
For more information, visit gwrr.com.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20161013005248/en/
Genesee & Wyoming Inc.Thomas D. Savage, 1-203-202-8900Vice
President – Corporate Development & TreasurerWeb Site:
http://www.gwrr.com
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