Genesee & Wyoming Inc. (G&W) (NYSE:GWR) today reported
traffic volumes for January 2017.
G&W’s traffic in January 2017 was 278,268 carloads, an
increase of 59,837 carloads, or 27.4%, compared with January 2016.
G&W’s same-railroad traffic in January 2017 was 240,801
carloads, an increase of 22,370 carloads, or 10.2%, compared with
January 2016.
The table below sets forth summary total carloads by segment for
January 2017 and January 2016.
Segment
January
2017
January
2016
Change
%
Change
North American Operations 138,551 124,416 14,135 11.4% Australian
Operations(1) 51,977 15,095 36,882 NM U.K./European Operations
87,740 78,920 8,820 11.2% Total G&W Operations 278,268 218,431
59,837 27.4% Carloads from New Railroads 37,467 Same-railroad
carloads 240,801 218,431 22,370 10.2% (1) 51.1% owned by G&W as
of December 1, 2016.
January 2017 Highlights by Segment
- North American Operations: Traffic in
January 2017 was 138,551 carloads, an increase of 11.4% compared
with January 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
increased 9.1%, primarily due to increased coal & coke,
agricultural products and minerals & stone traffic.
- Australian Operations: Traffic in
January 2017 was 51,977 carloads, including carloads from the
Glencore Rail (GRail) acquisition, which closed on December 1,
2016. On a same-railroad basis, Australian traffic increased 14.7%,
primarily due to increased agricultural products and 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
January 2017 was 87,740 carloads, an increase of 11.2% compared
with January 2016, primarily due to increased intermodal
traffic.
The table below sets forth North American Operations carload
information for January 2017 and January 2016 by commodity
group.
North American Operations:
January
2017
January
2016
Change
%
Change
Agricultural Products 19,894 17,614 2,280 12.9% Autos & Auto
Parts 2,757 1,800 957 53.2% Chemicals & Plastics 15,835 14,139
1,696 12.0% Coal & Coke 22,407 18,399 4,008 21.8% Food &
Kindred Products 4,976 4,710 266 5.6% Intermodal 509 - 509 NM
Lumber & Forest Products 10,682 10,840 (158) (1.5%) Metallic
Ores 1,741 2,088 (347) (16.6%) Metals 11,728 10,876 852 7.8%
Minerals & Stone 15,475 12,915 2,560 19.8% Petroleum Products
9,211 8,900 311 3.5% Pulp & Paper 13,971 14,707 (736) (5.0%)
Waste 3,885 2,497 1,388 55.6% Other 5,480 4,931 549 11.1% Total
carloads 138,551 124,416 14,135 11.4% Carloads from New
Railroads(1) 2,799 Same-railroad carloads 135,752 124,416 11,336
9.1% (1) Total carloads from P&W, which was acquired on
November 1, 2016 and contributed 509 carloads of intermodal
traffic, 433 carloads of minerals & stone traffic, 428 carloads
of autos & auto parts traffic, 396 carloads of chemicals &
plastics traffic, 246 carloads of metals traffic and 787 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.
- Coal & coke traffic increased 4,008
carloads, or 21.8%, primarily due to increased shipments of utility
coal in G&W’s Midwest Region.
- Agricultural products traffic increased
2,164 carloads, or 12.3%, primarily due to increased shipments in
G&W’s Central, Mountain West and Midwest regions.
- Minerals & stone traffic increased
2,127 carloads, or 16.5%, primarily due to increased shipments of
rock salt in G&W’s Northeast Region.
- All remaining traffic increased by a
net 3,037 carloads.
The table below sets forth carload information for G&W’s
51.1% owned Australian Operations for January 2017 and January 2016
by commodity group.
Australian Operations(1):
January
2017
January
2016
Change
%
Change
Agricultural Products 5,202 4,043 1,159 28.7% Coal & Coke
34,668 - 34,668 NM Intermodal 4,460 4,409 51 1.2% Metallic Ores
1,898 816 1,082 NM Minerals & Stone 5,737 5,816 (79) (1.4%)
Petroleum Products 12 11 1 9.1% Total carloads 51,977 15,095 36,882
NM Carloads from New Railroads(2) 34,668 Same-railroad carloads
17,309 15,095 2,214 14.7% (1) 51.1% owned by G&W as of December
1, 2016. (2) Total carloads from GRail, which was acquired on
December 1, 2016 and contributed 34,668 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.
- Agricultural products traffic increased
1,159 carloads, or 28.7%, primarily due to the start of the
2016/2017 harvest.
- Metallic ores traffic increased 1,082
carloads primarily due to the short-term re-opening of an iron ore
mine.
- All remaining traffic decreased by a
net 27 carloads.
The table below sets forth U.K./European Operations carload
information for January 2017 and January 2016 by commodity
group.
U.K./European Operations:
January
2017
January
2016
Change
%
Change
Agricultural Products 562 65 497 NM Coal & Coke 4,091 4,033 58
1.4% Intermodal 75,049 67,245 7,804 11.6% Lumber & Forest
Products - 45 (45) NM Minerals & Stone 8,038 7,532 506 6.7%
Total carloads 87,740 78,920 8,820 11.2%
- Intermodal traffic increased by 7,804
carloads, or 11.6%, primarily in the U.K. and continental
Europe.
- All remaining traffic increased by a
net 1,016 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, 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.
For more information, visit gwrr.com.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170213006198/en/
Genesee & Wyoming Inc.Thomas D. Savage, 1-203-202-8900Vice
President – Corporate Development & TreasurerWeb Site:
http://www.gwrr.com
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