Genesee & Wyoming Inc. (G&W) (NYSE:GWR) today reported
traffic volumes for February 2018.
G&W’s traffic in February 2018 was 254,270 carloads, an
increase of 2,042 carloads, or 0.8%, compared with February 2017.
G&W’s same-railroad traffic in February 2018 was 253,833
carloads, an increase of 1,605 carloads, or 0.6%, compared with
February 2017.
G&W’s traffic in the first quarter of 2018 through February
was 531,401 carloads, an increase of 905 carloads, or 0.2%,
compared with the first quarter of 2017 through February. G&W’s
same-railroad traffic in the first quarter of 2018 through February
was 530,463 carloads, or flat, compared with the first quarter of
2017 through February.
The table below sets forth summary total carloads by
segment.
Segment
February2018
February2017
Change
%Change
North American Operations 127,344 126,488 856 0.7% Australian
Operations(1) 43,338 42,051 1,287 3.1% U.K./European Operations
83,588 83,689 (101) (0.1%) Total G&W Operations 254,270 252,228
2,042 0.8% Carloads from New Railroads 437 Same-railroad carloads
253,833 252,228 1,605 0.6% (1) 51.1% owned by G&W.
Highlights by Segment
- North American Operations: Traffic in
February 2018 was 127,344 carloads, an increase of 0.7% compared
with February 2017, including carloads from the Heart of Georgia
Railroad, Inc. (HOG), which was acquired on May 31, 2017. On a
same-railroad basis, North American traffic increased 0.3%, due to
traffic increases across several commodity groups, partially offset
by decreased agricultural products traffic and by lower than
expected steam coal shipments in February 2018 in G&W’s Midwest
region due to mild winter weather and unscheduled utility
maintenance outages.
- Australian Operations: Traffic in
February 2018 was 43,338 carloads, an increase of 3.1% compared
with February 2017, primarily due to increased coal & coke
traffic. Carload information for G&W’s 51.1% owned Australian
Operations is presented on a 100% basis.
- U.K./European Operations: Traffic in
February 2018 was 83,588 carloads, a decrease of 0.1% compared with
February 2017, primarily due to decreased coal & coke traffic
in the U.K. and intermodal traffic in Continental Europe, partially
offset by increased minerals & stone traffic in Poland.
The table below sets forth North American Operations carload
information by commodity group.
North American Operations:
February2018
February2017
Change
%Change
Agricultural Products 16,264 17,704 (1,440) (8.1%) Autos & Auto
Parts 2,469 2,522 (53) (2.1%) Chemicals & Plastics 13,441
14,007 (566) (4.0%) Coal & Coke 20,834 21,290 (456) (2.1%) Food
& Kindred Products 4,563 4,511 52 1.2% Intermodal 853 664 189
28.5% Lumber & Forest Products 11,480 10,654 826 7.8% Metallic
Ores 1,502 1,335 167 12.5% Metals 10,709 11,511 (802) (7.0%)
Minerals & Stone 15,189 14,759 430 2.9% Petroleum Products
8,291 7,847 444 5.7% Pulp & Paper 12,863 12,046 817 6.8% Waste
3,783 3,263 520 15.9% Other 5,103 4,375 728 16.6% Total carloads
127,344 126,488 856 0.7% Carloads from New Railroads(1) 437
Same-railroad carloads 126,907 126,488 419 0.3% (1) Total carloads
from HOG, which contributed 286 carloads of lumber & forest
products traffic and 151 carloads from all other commodities.
The following highlights relate to North American same-railroad
traffic, excluding traffic from HOG, which was acquired on May 31,
2017.
- Agricultural products traffic decreased
1,470 carloads, or 8.3%, primarily due to decreased grain shipments
in G&W’s Midwest and Central regions.
- All remaining traffic increased by a
net 1,889 carloads.
The table below sets forth carload information for G&W’s
51.1% owned Australian Operations by commodity group.
Australian Operations(1):
February2018
February2017
Change
%Change
Agricultural Products 4,396 4,869 (473) (9.7%) Coal & Coke
28,537 26,596 1,941 7.3% Intermodal 3,933 4,298 (365) (8.5%)
Metallic Ores 1,340 1,872 (532) (28.4%) Minerals & Stone 5,102
4,404 698 15.8% Petroleum Products 30 12 18 NM Total carloads
43,338 42,051 1,287 3.1% (1) 51.1% owned by G&W.
- Coal & coke traffic increased 1,941
carloads, or 7.3%.
- All remaining traffic decreased by a
net 654 carloads.
The table below sets forth U.K./European Operations carload
information by commodity group.
U.K./European Operations:
February2018
February2017
Change
%Change
Agricultural Products 362 488 (126) (25.8%) Coal & Coke 1,866
3,374 (1,508) (44.7%) Intermodal 67,754 68,649 (895) (1.3%)
Minerals & Stone 13,606 11,178 2,428 21.7% Total carloads
83,588 83,689 (101) (0.1%)
- Coal & coke traffic decreased 1,508
carloads, or 44.7%, primarily due to decreased shipments in the
U.K.
- Intermodal traffic decreased 895
carloads, or 1.3%, primarily due to decreased shipments in
Continental Europe due to the discontinuance of certain routes as
part of the restructuring of ERS.
- Minerals & stone traffic increased
2,428 carloads, or 21.7%, primarily due to increased shipments in
Poland.
- All remaining traffic decreased by a
net 126 carloads.
First Quarter of 2018 Through February Traffic
The table below sets forth summary total carloads by
segment.
Segment
QTD Feb2018
QTD Feb2017
Change
%Change
North American Operations 263,543 265,039 (1,496) (0.6%) Australian
Operations(1) 92,614 94,028 (1,414) (1.5%) U.K./European Operations
175,244 171,429 3,815 2.2% Total G&W Operations 531,401 530,496
905 0.2% Carloads from New Railroads 938 Same-railroad carloads
530,463 530,496 (33) (0.0%) (1) 51.1% owned by G&W.
The table below sets forth North American Operations carload
information by commodity group.
North American Operations:
QTD Feb2018
QTD Feb2017
Change
%Change
Agricultural Products 34,868 37,598 (2,730) (7.3%) Autos & Auto
Parts 5,560 5,279 281 5.3% Chemicals & Plastics 28,023 29,842
(1,819) (6.1%) Coal & Coke 42,394 43,697 (1,303) (3.0%) Food
& Kindred Products 9,870 9,487 383 4.0% Intermodal 1,903 1,173
730 62.2% Lumber & Forest Products 23,578 21,336 2,242 10.5%
Metallic Ores 2,937 3,076 (139) (4.5%) Metals 22,571 23,239 (668)
(2.9%) Minerals & Stone 30,146 30,234 (88) (0.3%) Petroleum
Products 17,461 17,058 403 2.4% Pulp & Paper 26,915 26,017 898
3.5% Waste 7,704 7,148 556 7.8% Other 9,613 9,855 (242) (2.5%)
Total carloads 263,543 265,039 (1,496) (0.6%) Carloads from New
Railroads(1) 938 Same-railroad carloads 262,605 265,039 (2,434)
(0.9%) (1) Total carloads from HOG, which contributed 696 carloads
of lumber & forest products traffic and 242 carloads from all
other commodities.
The table below sets forth carload information for G&W’s
51.1% owned Australian Operations by commodity group.
Australian Operations(1):
QTD Feb2018
QTD Feb2017
Change
%Change
Agricultural Products 8,283 10,071 (1,788) (17.8%) Coal & Coke
62,348 61,264 1,084 1.8% Intermodal 8,291 8,758 (467) (5.3%)
Metallic Ores 3,005 3,770 (765) (20.3%) Minerals & Stone 10,645
10,141 504 5.0% Petroleum Products 42 24 18 75.0% Total carloads
92,614 94,028 (1,414) (1.5%) (1) 51.1% owned by G&W.
The table below sets forth U.K./European Operations carload
information by commodity group.
U.K./European Operations:
QTD Feb2018
QTD Feb2017
Change
%Change
Agricultural Products 648 1,050 (402) (38.3%) Coal & Coke 4,052
7,465 (3,413) (45.7%) Intermodal 143,190 143,698 (508) (0.4%)
Minerals & Stone 27,354 19,216 8,138 42.4% Total carloads
175,244 171,429 3,815 2.2%
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
G&W owns or leases 122 freight railroads organized in nine
locally managed operating regions with 8,000 employees serving
3,000 customers.
- G&W’s seven 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 serves New
South Wales, 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 UK/Europe Region includes the
U.K.’s largest rail maritime intermodal operator and second-largest
freight rail provider, as well as regional rail services in
Continental Europe.
G&W subsidiaries and joint ventures also provide rail
service at more than 40 major ports, rail-ferry service between the
U.S. Southeast and Mexico, transload services, contract coal
loading, and industrial railcar switching and repair.
For more information, visit gwrr.com.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20180313005372/en/
Genesee & Wyoming Inc.Thomas D. Savage, 1-203-202-8900Senior
Vice President – Corporate Development &
Treasurerhttp://www.gwrr.com
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