Genesee & Wyoming Inc. (G&W) (NYSE:GWR) today reported
traffic volumes for March 2018 and the first quarter of 2018.
G&W’s traffic in March 2018 was 279,912 carloads, a decrease
of 10,840 carloads, or 3.7%, compared with March 2017. G&W’s
same-railroad traffic in March 2018 was 279,280 carloads, a
decrease of 11,472 carloads, or 3.9%, compared with March 2017.
G&W’s traffic in the first quarter of 2018 was 811,313
carloads, a decrease of 9,935 carloads, or 1.2%, compared with the
first quarter of 2017. G&W’s same-railroad traffic in the first
quarter of 2018 was 809,743 carloads, a decrease of 11,505
carloads, or 1.4%, compared with the first quarter of 2017. First
quarter carloads in North America included lower than expected coal
traffic in G&W’s Midwest Region as well as the adverse impact
of overall rail network congestion.
The table below sets forth summary total carloads by
segment.
Segment
March2018
March2017
Change
%Change
North American Operations 142,470 137,977 4,493 3.3% Australian
Operations(1) 50,901 55,388 (4,487) (8.1%) U.K./European Operations
86,541 97,387 (10,846) (11.1%) Total G&W Operations 279,912
290,752 (10,840) (3.7%) Carloads from New Railroads 632
Same-railroad carloads 279,280 290,752 (11,472) (3.9%) (1) 51.1%
owned by G&W.
Highlights by Segment
- North American Operations: Traffic in
March 2018 was 142,470 carloads, an increase of 3.3% compared with
March 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 2.8%, primarily due to
increased other commodity group traffic and pulp & paper
traffic.
- Australian Operations: Traffic in March
2018 was 50,901 carloads, a decrease of 8.1% compared with March
2017, primarily due to decreased coal & coke and metallic ores
traffic. Carload information for G&W’s 51.1% owned Australian
Operations is presented on a 100% basis.
- U.K./European Operations: Traffic in
March 2018 was 86,541 carloads, a decrease of 11.1% compared with
March 2017, primarily due to decreased intermodal traffic in the
U.K. and Continental Europe and decreased coal & coke traffic
in Poland and the U.K., partially offset by increased minerals
& stone traffic in the U.K. and Poland.
The table below sets forth North American Operations carload
information by commodity group.
North American Operations:
March 2018
March 2017
Change % Change Agricultural Products 18,896 19,653
(757) (3.9%) Autos & Auto Parts 3,156 3,514 (358) (10.2%)
Chemicals & Plastics 15,319 16,166 (847) (5.2%) Coal & Coke
19,572 19,602 (30) (0.2%) Food & Kindred Products 5,313 5,383
(70) (1.3%) Intermodal 1,181 628 553 88.1% Lumber & Forest
Products 12,672 12,219 453 3.7% Metallic Ores 1,459 1,848 (389)
(21.0%) Metals 12,667 12,559 108 0.9% Minerals & Stone 17,550
16,811 739 4.4% Petroleum Products 8,199 8,079 120 1.5% Pulp &
Paper 14,442 12,757 1,685 13.2% Waste 4,277 3,596 681 18.9% Other
7,767 5,162 2,605 50.5% Total carloads 142,470 137,977 4,493 3.3%
Carloads from New Railroads(1) 632 Same-railroad carloads 141,838
137,977 3,861 2.8% (1) Total carloads from HOG, which contributed
337 carloads of lumber & forest products traffic and 295
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.
- Other commodity group traffic increased
2,470 carloads, or 47.8%, primarily due to increased Class I
overhead traffic in most G&W regions.
- Pulp & paper traffic increased
1,685 carloads, or 13.2%, primarily due to increased shipments in
all of G&W’s regions, with the largest variance in the Southern
Region which experienced a customer plant outage in March 2017 that
negatively impacted shipments.
- All remaining traffic decreased by a
net 294 carloads.
The table below sets forth carload information for G&W’s
51.1% owned Australian Operations by commodity group.
Australian Operations(1):
March2018
March2017
Change
%Change
Agricultural Products 4,829 5,195 (366) (7.0%) Coal & Coke
34,508 36,420 (1,912) (5.2%) Intermodal 4,463 4,820 (357) (7.4%)
Metallic Ores 1,866 3,136 (1,270) (40.5%) Minerals & Stone
5,218 5,787 (569) (9.8%) Petroleum Products 17 30 (13) (43.3%)
Total carloads 50,901 55,388 (4,487) (8.1%) (1) 51.1% owned by
G&W.
- Coal & coke traffic decreased 1,912
carloads, or 5.2%, in part due to weather-related shipping
disruptions.
- Metallic ores traffic decreased 1,270
carloads, or 40.5%, primarily due to the planned, temporary
shutdown of an iron ore mine in October 2017.
- All remaining traffic decreased by a
net 1,305 carloads.
The table below sets forth U.K./European Operations carload
information by commodity group.
U.K./European Operations:
March2018
March2017
Change
%Change
Agricultural Products 318 463 (145) (31.3%) Coal & Coke 1,843
3,096 (1,253) (40.5%) Intermodal 67,590 80,115 (12,525) (15.6%)
Minerals & Stone 16,790 13,713 3,077 22.4% Total carloads
86,541 97,387 (10,846) (11.1%)
- Intermodal traffic decreased 12,525
carloads, or 15.6%, primarily due to decreased shipments in the
U.K. as a result of weather related service cancellations and in
Continental Europe due to the discontinuance of certain routes as
part of the restructuring of ERS.
- Coal & coke traffic decreased 1,253
carloads, or 40.5%, primarily due to decreased shipments in Poland
and the U.K.
- Minerals & stone traffic increased
3,077 carloads, or 22.4%, primarily due to increased shipments in
the U.K. and Poland.
- All remaining traffic decreased by a
net 145 carloads.
First Quarter of 2018 Traffic
The table below sets forth summary total carloads by
segment.
Segment Q1 2018 Q1 2017 Change
%Change
North American Operations 406,013 403,016 2,997 0.7% Australian
Operations(1) 143,515 149,416 (5,901) (3.9%) U.K./European
Operations 261,785 268,816 (7,031) (2.6%) Total G&W Operations
811,313 821,248 (9,935) (1.2%) Carloads from New Railroads 1,570
Same-railroad carloads 809,743 821,248 (11,505) (1.4%) (1) 51.1%
owned by G&W.
The table below sets forth North American Operations carload
information by commodity group.
North American Operations: Q1 2018 Q1 2017
Change % Change Agricultural Products 53,764 57,251
(3,487) (6.1%) Autos & Auto Parts 8,716 8,793 (77) (0.9%)
Chemicals & Plastics 43,342 46,008 (2,666) (5.8%) Coal &
Coke 61,966 63,299 (1,333) (2.1%) Food & Kindred Products
15,183 14,870 313 2.1% Intermodal 3,084 1,801 1,283 71.2% Lumber
& Forest Products 36,250 33,555 2,695 8.0% Metallic Ores 4,396
4,924 (528) (10.7%) Metals 35,238 35,798 (560) (1.6%) Minerals
& Stone 47,696 47,045 651 1.4% Petroleum Products 25,660 25,137
523 2.1% Pulp & Paper 41,357 38,774 2,583 6.7% Waste 11,981
10,744 1,237 11.5% Other 17,380 15,017 2,363 15.7% Total carloads
406,013 403,016 2,997 0.7% Carloads from New Railroads(1) 1,570
Same-railroad carloads 404,443 403,016 1,427 0.4% (1) Total
carloads from HOG, which contributed 1,033 carloads of lumber &
forest products traffic and 537 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): Q1 2018 Q1
2017 Change
%Change
Agricultural Products 13,112 15,266 (2,154) (14.1%) Coal & Coke
96,856 97,684 (828) (0.8%) Intermodal 12,754 13,578 (824) (6.1%)
Metallic Ores 4,871 6,906 (2,035) (29.5%) Minerals & Stone
15,863 15,928 (65) (0.4%) Petroleum Products 59 54 5 9.3% Total
carloads 143,515 149,416 (5,901) (3.9%) (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: Q1 2018 Q1 2017
Change
%Change
Agricultural Products 966 1,513 (547) (36.2%) Coal & Coke 5,895
10,561 (4,666) (44.2%) Intermodal 210,780 223,813 (13,033) (5.8%)
Minerals & Stone 44,144 32,929 11,215 34.1% Total carloads
261,785 268,816 (7,031) (2.6%)
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: https://www.businesswire.com/news/home/20180417005458/en/
Genesee & Wyoming Inc.Thomas D. Savage, 1-203-202-8900Senior
Vice President – Corporate Development &
Treasurerhttp://www.gwrr.com
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