Genesee & Wyoming Inc. (G&W) (NYSE:GWR) today reported
traffic volumes for March 2017 and the first quarter of 2017.
G&W’s traffic in March 2017 was 290,752 carloads, an
increase of 52,455 carloads, or 22.0%, compared with March 2016.
G&W’s same-railroad traffic in March 2017 was 251,490 carloads,
an increase of 13,193 carloads, or 5.5%, compared with March
2016.
G&W’s traffic in the first quarter of 2017 was 821,248
carloads, an increase of 139,864 carloads, or 20.5%, compared with
the first quarter of 2016. G&W’s same-railroad traffic in the
first quarter of 2017 was 715,656 carloads, an increase of 34,272
carloads, or 5.0%, compared with the first quarter of 2016.
The table below sets forth summary total carloads by segment for
March 2017 and March 2016.
Segment
March2017
March2016
Change
%Change
North American Operations 137,977 133,300 4,677 3.5% Australian
Operations(1) 55,388 15,637 39,751 NM U.K./European Operations
97,387 89,360 8,027 9.0% Total G&W Operations 290,752 238,297
52,455 22.0% Carloads from New Railroads 39,262 Same-railroad
carloads 251,490 238,297 13,193 5.5% (1) 51.1% owned by G&W as
of December 1, 2016.
March 2017 Highlights by Segment
- North American Operations: Traffic in
March 2017 was 137,977 carloads, an increase of 3.5% compared with
March 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
1.4%, primarily due to increased coal & coke traffic.
- Australian Operations: Traffic in March
2017 was 55,388 carloads, including carloads from the Glencore Rail
(GRail) acquisition, which closed on December 1, 2016. On a
same-railroad basis, Australian traffic increased 21.3%, primarily
due to 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
March 2017 was 97,387 carloads, an increase of 9.0% compared with
March 2016, primarily due to increased intermodal and coal &
coke traffic.
The table below sets forth North American Operations carload
information for March 2017 and March 2016 by commodity group.
North American Operations:
March2017
March2016
Change % Change
Agricultural Products 19,653 19,654 (1) (0.0%) Autos & Auto
Parts 3,514 2,814 700 24.9% Chemicals & Plastics 16,166 15,745
421 2.7% Coal & Coke 19,602 13,884 5,718 41.2% Food &
Kindred Products 5,383 5,180 203 3.9% Intermodal 628 12 616 NM
Lumber & Forest Products 12,219 12,780 (561) (4.4%) Metallic
Ores 1,848 2,103 (255) (12.1%) Metals 12,559 13,043 (484) (3.7%)
Minerals & Stone 16,811 16,679 132 0.8% Petroleum Products
8,079 8,524 (445) (5.2%) Pulp & Paper 12,757 13,442 (685)
(5.1%) Waste 3,596 3,215 381 11.9% Other 5,162 6,225 (1,063)
(17.1%) Total carloads 137,977 133,300 4,677 3.5% Carloads from New
Railroads(1) 2,842 Same-railroad carloads 135,135 133,300 1,835
1.4% (1) Total carloads from P&W, which was acquired on
November 1, 2016 and contributed 416 carloads of autos & auto
parts traffic, 659 carloads of chemicals & plastics traffic,
622 carloads of intermodal traffic, 190 carloads of metals traffic,
316 carloads of minerals & stone traffic and 639 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 5,718
carloads, or 41.2%, primarily due to increased shipments of utility
coal in G&W’s Midwest and Northeast regions, partially offset
by decreased shipments in G&W’s Central Region.
- Other commodity group traffic decreased
1,120 carloads, or 18.0%, primarily due to decreased Class 1
haulage traffic in G&W’s Southern Region.
- All remaining traffic decreased by a
net 2,763 carloads.
The table below sets forth carload information for G&W’s
51.1% owned Australian Operations for March 2017 and March 2016 by
commodity group.
Australian Operations(1):
March2017
March2016
Change % Change
Agricultural Products 5,195 4,579 616 13.5% Coal & Coke 36,420
- 36,420 NM Intermodal 4,820 4,683 137 2.9% Metallic Ores 3,136 718
2,418 NM Minerals & Stone 5,787 5,632 155 2.8% Petroleum
Products 30 25 5 20.0% Total carloads 55,388 15,637 39,751 NM
Carloads from New Railroads(2) 36,420 Same-railroad carloads 18,968
15,637 3,331 21.3% (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 36,420 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.
- Metallic ores traffic increased 2,418
carloads primarily due to the re-opening of a manganese mine in
March 2017 and the re-opening of an iron ore mine in July
2016.
- All remaining traffic increased by a
net 913 carloads.
The table below sets forth U.K./European Operations carload
information for March 2017 and March 2016 by commodity group.
U.K./European Operations:
March2017
March2016
Change
%Change
Agricultural Products 463 143 320 NM Coal & Coke 3,096 651
2,445 NM Intermodal 80,115 75,343 4,772 6.3% Lumber & Forest
Products - 45 (45) NM Minerals & Stone 13,713 13,178 535 4.1%
Total carloads 97,387 89,360 8,027 9.0%
- Intermodal traffic increased by 4,772
carloads, or 6.3%, primarily due to increased shipments in the
U.K.
- Coal & coke traffic increased 2,445
carloads primarily due to increased shipments in the U.K. and
Poland.
- All remaining traffic increased by a
net 810 carloads.
First Quarter of 2017 Traffic
The table below sets forth summary total carloads by segment for
the first quarter of 2017 and the first quarter of 2016.
Segment Q1 2017
Q1 2016 Change
%Change
North American Operations 403,016 383,192 19,824 5.2% Australian
Operations 149,416 46,223 103,193 NM U.K./European Operations
268,816 251,969 16,847 6.7% Total G&W Operations 821,248
681,384 139,864 20.5% Carloads from New Railroads 105,592
Same-railroad carloads 715,656 681,384 34,272 5.0%
The table below sets forth North American Operations carload
information for the first quarter of 2017 and the first quarter of
2016 by commodity group.
North American Operations: Q1
2017 Q1 2016 Change
% Change Agricultural Products 57,251 56,015
1,236 2.2% Autos & Auto Parts 8,793 6,806 1,987 29.2% Chemicals
& Plastics 46,008 44,359 1,649 3.7% Coal & Coke 63,299
48,678 14,621 30.0% Food & Kindred Products 14,870 14,964 (94)
(0.6%) Intermodal 1,801 12 1,789 NM Lumber & Forest Products
33,555 34,832 (1,277) (3.7%) Metallic Ores 4,924 6,225 (1,301)
(20.9%) Metals 35,798 35,905 (107) (0.3%) Minerals & Stone
47,045 43,681 3,364 7.7% Petroleum Products 25,137 25,989 (852)
(3.3%) Pulp & Paper 38,774 41,168 (2,394) (5.8%) Waste 10,744
8,286 2,458 29.7% Other 15,017 16,272 (1,255) (7.7%) Total carloads
403,016 383,192 19,824 5.2% Carloads from New Railroads(1) 7,908
Same-railroad carloads 395,108 383,192 11,916 3.1% (1) Total
carloads from P&W, which was acquired on November 1, 2016 and
contributed 1,184 carloads of autos & auto parts traffic, 1,468
carloads of chemicals & plastics traffic, 1,795 carloads of
intermodal traffic, 595 carloads of metals traffic, 988 carloads of
minerals & stone traffic, and 1,878 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 and
the first quarter of 2016 by commodity group.
Australian Operations(1):
Q1 2017 Q1 2016
Change % Change Agricultural Products
15,266 13,573 1,693 12.5% Coal & Coke 97,684 - 97,684 NM
Intermodal 13,578 13,623 (45) (0.3%) Metallic Ores 6,906 2,318
4,588 NM Minerals & Stone 15,928 16,648 (720) (4.3%) Petroleum
Products 54 61 (7) (11.5%) Total carloads 149,416 46,223 103,193 NM
Carloads from New Railroads(2) 97,684 Same-railroad carloads 51,732
46,223 5,509 11.9% (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 97,684 carloads of coal & coke traffic.
The table below sets forth U.K./European Operations carload
information for the first quarter of 2017 and the first quarter of
2016 by commodity group.
U.K./European Operations: Q1
2017 Q1 2016 Change
%Change
Agricultural Products 1,513 394 1,119 NM Coal & Coke 10,561
8,063 2,498 31.0% Intermodal 223,813 212,095 11,718 5.5% Lumber
& Forest Products - 180 (180) NM Minerals & Stone 32,929
31,237 1,692 5.4% Total carloads 268,816 251,969 16,847 6.7%
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/20170413005277/en/
Genesee & Wyoming Inc.Thomas D. Savage, 1-203-202-8900Senior
Vice President – Corporate Development & TreasurerWeb Site:
http://www.gwrr.com
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