Genesee & Wyoming Inc. (G&W) (NYSE:GWR) today reported
traffic volumes for June 2017 and the second quarter of 2017.
G&W’s traffic in June 2017 was 274,588 carloads, an increase
of 30,391 carloads, or 12.4%, compared with June 2016. G&W’s
same-railroad traffic in June 2017 was 242,763 carloads, a decrease
of 1,434 carloads, or 0.6%, compared with June 2016.
G&W’s traffic in the second quarter of 2017 was 810,082
carloads, an increase of 103,166 carloads, or 14.6%, compared with
the second quarter of 2016. G&W’s same-railroad traffic in the
second quarter of 2017 was 705,940 carloads, a decrease of 976
carloads, or 0.1%, compared with the second quarter of 2016.
The table below sets forth summary total carloads by segment for
June 2017 and June 2016.
Segment
June 2017
June 2016
Change
%Change
North American Operations 135,654 131,338 4,316 3.3% Australian
Operations(1) 45,998 14,199 31,799 NM U.K./European Operations
92,936 98,660 (5,724) (5.8%) Total G&W Operations 274,588
244,197 30,391 12.4% Carloads from New Railroads 31,825
Same-railroad carloads 242,763 244,197 (1,434) (0.6%) (1) 51.1%
owned by G&W as of December 1, 2016.
June 2017 Highlights by Segment
- North American Operations: Traffic in
June 2017 was 135,654 carloads, an increase of 3.3% compared with
June 2016, including carloads from the Providence and Worcester
Railroad Company (P&W) acquisition, which closed on November 1,
2016, and the Heart of Georgia Railroad, Inc. (HOG), which closed
on May 31, 2017. On a same-railroad basis, North American traffic
decreased 0.1%.
- Australian Operations: Traffic in June
2017 was 45,998 carloads, including carloads from the Glencore Rail
(GRail) acquisition, which closed on December 1, 2016. On a
same-railroad basis, Australian traffic increased 31.4%, primarily
due to increased metallic ores and agricultural products 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
June 2017 was 92,936 carloads, a decrease of 5.8% compared with
June 2016, primarily due to decreased intermodal and coal &
coke traffic, partially offset by increased minerals & stone
traffic.
The table below sets forth North American Operations carload
information for June 2017 and June 2016 by commodity group.
North American Operations: June 2017 June 2016
Change % Change Agricultural Products 17,330 17,113
217 1.3% Autos & Auto Parts 3,114 2,920 194 6.6% Chemicals
& Plastics 14,359 14,395 (36) (0.3%) Coal & Coke 17,513
16,827 686 4.1% Food & Kindred Products 4,911 4,678 233 5.0%
Intermodal 975 - 975 NM Lumber & Forest Products 11,895 11,749
146 1.2% Metallic Ores 1,464 1,916 (452) (23.6%) Metals 11,571
11,446 125 1.1% Minerals & Stone 20,033 17,905 2,128 11.9%
Petroleum Products 8,479 8,683 (204) (2.3%) Pulp & Paper 13,495
13,885 (390) (2.8%) Waste 5,075 4,367 708 16.2% Other 5,440 5,454
(14) (0.3%) Total carloads 135,654 131,338 4,316 3.3% Carloads from
New Railroads(1) 4,489 Same-railroad carloads 131,165 131,338 (173)
(0.1%) (1) Total carloads from rail operations commenced or
acquired by G&W in the last 12 months include the P&W and
HOG. These railroads contributed 308 carloads of autos & auto
parts traffic, 495 carloads of chemicals & plastics traffic,
975 carloads of intermodal traffic, 392 carloads of lumber &
forest products traffic, 1,324 carloads of minerals & stone
traffic and 995 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, and HOG, which was acquired on May 31, 2017.
- Minerals & stone increased 804
carloads, or 4.5%, primarily due to increased shipments of
construction aggregates in G&W’s Central Region.
- All remaining traffic decreased by a
net 977 carloads.
The table below sets forth carload information for G&W’s
51.1% owned Australian Operations for June 2017 and June 2016 by
commodity group.
Australian Operations(1): June 2017
June 2016 Change % Change Agricultural
Products 5,172 3,442 1,730 50.3% Coal & Coke 27,336 - 27,336 NM
Intermodal 5,090 5,128 (38) (0.7%) Metallic Ores 2,974 592 2,382 NM
Minerals & Stone 5,404 5,008 396 7.9% Petroleum Products 22 29
(7) (24.1%) Total carloads 45,998 14,199 31,799 NM Carloads from
New Railroads(2) 27,336 Same-railroad carloads 18,662 14,199 4,463
31.4% (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 27,336 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 2,382
carloads primarily due to the re-opening of a manganese mine in
March 2017 and an iron ore mine in July 2016.
- Agricultural products traffic increased
1,730 carloads, or 50.3%, primarily due to a stronger harvest in
2017.
- All remaining traffic increased by a
net 351 carloads.
The table below sets forth U.K./European Operations carload
information for June 2017 and June 2016 by commodity group.
U.K./European Operations:
June 2017
June 2016
Change
%Change
Agricultural Products 176 76 100 NM Coal & Coke 600 3,372
(2,772) (82.2%) Intermodal 75,559 81,569 (6,010) (7.4%) Lumber
& Forest Products - 45 (45) NM Minerals & Stone 16,601
13,598 3,003 22.1% Total carloads 92,936 98,660 (5,724) (5.8%)
- Intermodal traffic decreased 6,010
carloads, or 7.4%, primarily due to decreased shipments in
Continental Europe largely resulting from the elimination of
unprofitable routes.
- Coal & coke traffic decreased 2,772
carloads, or 82.2%, primarily due to decreased shipments in the
U.K.
- Minerals & stone traffic increased
3,003 carloads, or 22.1%, primarily due to increased shipments in
Poland.
- All remaining traffic increased by a
net 55 carloads.
Second Quarter of 2017 Traffic
The table below sets forth summary total carloads by segment for
the second quarter of 2017 and the second quarter of 2016.
Segment Q2 2017 Q2 2016 Change
%Change
North American Operations 397,047 386,123 10,924 2.8% Australian
Operations 146,089 44,251 101,838 NM U.K./European Operations
266,946 276,542 (9,596) (3.5%) Total G&W Operations 810,082
706,916 103,166 14.6% Carloads from New Railroads 104,142
Same-railroad carloads 705,940 706,916 (976) (0.1%)
The table below sets forth North American Operations carload
information for the second quarter of 2017 and the second quarter
of 2016 by commodity group.
North American Operations: Q2 2017 Q2 2016
Change % Change Agricultural Products 52,953 49,330
3,623 7.3% Autos & Auto Parts 9,184 8,146 1,038 12.7% Chemicals
& Plastics 44,814 44,875 (61) (0.1%) Coal & Coke 46,501
46,237 264 0.6% Food & Kindred Products 14,806 14,448 358 2.5%
Intermodal 2,367 12 2,355 NM Lumber & Forest Products 35,619
34,561 1,058 3.1% Metallic Ores 4,249 6,122 (1,873) (30.6%) Metals
34,695 35,881 (1,186) (3.3%) Minerals & Stone 56,768 51,882
4,886 9.4% Petroleum Products 23,912 25,462 (1,550) (6.1%) Pulp
& Paper 39,813 41,128 (1,315) (3.2%) Waste 14,387 11,520 2,867
24.9% Other 16,979 16,519 460 2.8% Total carloads 397,047 386,123
10,924 2.8% Carloads from New Railroads(1) 11,483 Same-railroad
carloads 385,564 386,123 (559) (0.1%) (1) Total carloads from rail
operations commenced or acquired by G&W in the last 12 months
include the P&W and HOG. These railroads contributed 897
carloads of autos & auto parts traffic, 1,486 carloads of
chemicals & plastics traffic, 2,361 carloads of intermodal
traffic, 657 carloads of lumber & forest products traffic,
3,506 carloads of minerals & stone traffic and 2,576 carloads
from all other commodities.
The table below sets forth carload information for G&W’s
51.1% owned Australian Operations for the second quarter of 2017
and the second quarter of 2016 by commodity group.
Australian Operations(1): Q2 2017 Q2
2016 Change % Change Agricultural Products 15,375
10,504 4,871 46.4% Coal & Coke 92,659 - 92,659 NM Intermodal
15,159 15,320 (161) (1.1%) Metallic Ores 8,854 2,018 6,836 NM
Minerals & Stone 13,978 16,337 (2,359) (14.4%) Petroleum
Products 64 72 (8) (11.1%) Total carloads 146,089 44,251 101,838 NM
Carloads from New Railroads(2) 92,659 Same-railroad carloads 53,430
44,251 9,179 20.7% (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 92,659 carloads of coal & coke traffic.
The table below sets forth U.K./European Operations carload
information for the second quarter of 2017 and the second quarter
of 2016 by commodity group.
U.K./European Operations: Q2 2017 Q2 2016
Change
%Change
Agricultural Products 746 448 298 66.5% Coal & Coke 3,974 9,250
(5,276) (57.0%) Intermodal 217,091 228,543 (11,452) (5.0%) Lumber
& Forest Products - 135 (135) NM Metallic Ores - 93 (93) NM
Minerals & Stone 45,135 38,073 7,062 18.5% Total carloads
266,946 276,542 (9,596) (3.5%)
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
Genesee & Wyoming owns or leases 122 freight railroads
worldwide that are organized in 10 operating regions with
approximately 8,000 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, 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 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, intermodal services connecting
Northern European seaports with key industrial regions in Germany,
and regional rail services in the Netherlands and Belgium.
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/20170714005044/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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