Genesee & Wyoming Inc. (G&W) (NYSE:GWR) today reported
traffic volumes for May 2018.
G&W’s traffic in May 2018 was 293,096 carloads, an increase
of 18,042 carloads, or 6.6%, compared with May 2017. G&W’s
same-railroad traffic in May 2018 was 292,371 carloads, an increase
of 17,317 carloads, or 6.3%, compared with May 2017.
G&W’s traffic in the second quarter of 2018 through May was
563,197 carloads, an increase of 27,703 carloads, or 5.2%, compared
with the second quarter of 2017 through May. G&W’s
same-railroad traffic in the second quarter of 2018 through May was
561,954 carloads, an increase of 26,460, or 4.9%, compared with the
second quarter of 2017 through May.
The table below sets forth summary total carloads by
segment.
Segment May 2018 May 2017 Change
%Change
North American Operations 151,078 132,306 18,772 14.2% Australian
Operations(1) 51,249 50,570 679 1.3% U.K./European Operations
90,769 92,178 (1,409) (1.5%) Total G&W Operations 293,096
275,054 18,042 6.6% Carloads from New Railroads 725 Same-railroad
carloads 292,371 275,054 17,317 6.3%
(1) 51.1% owned by G&W.
Highlights by Segment
- North American Operations: Traffic in
May 2018 was 151,078 carloads, an increase of 14.2% compared with
May 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 13.6%, primarily due to
coal & coke, metals and minerals & stone traffic.
- Australian Operations: Traffic in May
2018 was 51,249 carloads, an increase of 1.3% compared with May
2017, primarily due to increased minerals & stone traffic,
partially offset by decreased metallic ores and intermodal traffic.
Carload information for G&W’s 51.1% owned Australian Operations
is presented on a 100% basis.
- U.K./European Operations: Traffic in
May 2018 was 90,769 carloads, a decrease of 1.5% compared with May
2017, primarily due to decreased intermodal traffic in the U.K.,
partially offset by increased minerals & stone traffic in the
U.K.
The table below sets forth North American Operations carload
information by commodity group.
North American Operations: May 2018 May 2017
Change % Change Agricultural Products 18,586 18,238
348 1.9% Autos & Auto Parts 3,078 2,947 131 4.4% Chemicals
& Plastics 16,472 15,533 939 6.0% Coal & Coke 20,076 12,626
7,450 59.0% Food & Kindred Products 5,344 5,041 303 6.0%
Intermodal 1,198 697 501 71.9% Lumber & Forest Products 13,171
11,908 1,263 10.6% Metallic Ores 1,587 1,415 172 12.2% Metals
13,930 11,753 2,177 18.5% Minerals & Stone 22,000 19,883 2,117
10.6% Petroleum Products 8,531 7,890 641 8.1% Pulp & Paper
14,652 13,510 1,142 8.5% Waste 5,367 5,174 193 3.7% Other 7,086
5,691 1,395 24.5% Total carloads 151,078 132,306 18,772 14.2%
Carloads from New Railroads(1) 725 Same-railroad carloads 150,353
132,306 18,047 13.6%
(1) Total carloads from HOG, which
contributed 373 carloads of lumber & forest products traffic
and 352 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.
- Coal & coke traffic increased 7,450
carloads, or 59.0%, due to increased shipments in most of G&W’s
North American regions, led by the Central Region in part due to a
maintenance outage at a customer facility in May 2017.
- Metals traffic increased 2,177
carloads, or 18.5%, primarily due to increased shipments of scrap
steel and pig iron in G&W’s Southern Region and scrap steel in
G&W’s Midwest Region.
- Minerals & stone traffic increased
2,117 carloads, or 10.6%, primarily due to increased shipments of
cement, frac sand and construction aggregates in most of G&W’s
North American regions.
- All remaining traffic increased by a
net 6,303 carloads.
The table below sets forth carload information for G&W’s
51.1% owned Australian Operations by commodity group.
Australian Operations(1): May 2018
May 2017 Change
%Change
Agricultural Products 4,972 5,380 (408) (7.6%) Coal & Coke
33,822 33,308 514 1.5% Intermodal 4,855 5,534 (679) (12.3%)
Metallic Ores 1,806 3,222 (1,416) (43.9%) Minerals & Stone
5,773 3,102 2,671 86.1% Petroleum Products 21 24 (3) (12.5%) Total
carloads 51,249 50,570 679 1.3%
(1) 51.1% owned by G&W.
- Minerals & stone traffic increased
2,671, or 86.1%, primarily due to a maintenance outage at a
customer facility in May 2017.
- Metallic ores traffic decreased 1,416
carloads, or 43.9%, primarily due to the planned, temporary
shutdown of an iron ore mine in October 2017.
- Intermodal traffic decreased 679
carloads, or 12.3% primarily due to a change in logistics patterns
for a consumer products customer as well as non-recurring project
traffic in May 2017.
- All remaining traffic increased by a
net 103 carloads.
The table below sets forth U.K./European Operations carload
information by commodity group.
U.K./European Operations: May 2018 May 2017
Change
%Change
Agricultural Products 217 257 (40) (15.6%) Coal & Coke 1,562
1,450 112 7.7% Intermodal 71,968 75,067 (3,099) (4.1%) Minerals
& Stone 17,022 15,404 1,618 10.5% Total carloads 90,769 92,178
(1,409) (1.5%)
- Intermodal traffic decreased 3,099
carloads, or 4.1%, primarily due to decreased shipments in the
U.K.
- Minerals & stone traffic increased
1,618 carloads, or 10.5%, primarily due to increased shipments in
the U.K.
- All remaining traffic increased by a
net 72 carloads.
Second Quarter of 2018 Through May
The table below sets forth summary total carloads by
segment.
Segment
QTD May2018
QTD May2017
Change
%Change
North American Operations 287,016 261,393 25,623 9.8% Australian
Operations(1) 99,478 100,091 (613) (0.6%) U.K./European Operations
176,703 174,010 2,693 1.5% Total G&W Operations 563,197 535,494
27,703 5.2% Carloads from New Railroads 1,243 Same-railroad
carloads 561,954 535,494 26,460 4.9%
(1) 51.1% owned by G&W.
The table below sets forth North American Operations carload
information by commodity group.
North American Operations:
QTD May2018
QTD May2017
Change % Change Agricultural Products 35,640 35,623
17 0.0% Autos & Auto Parts 6,160 6,070 90 1.5% Chemicals &
Plastics 30,761 30,455 306 1.0% Coal & Coke 39,105 28,988
10,117 34.9% Food & Kindred Products 10,225 9,895 330 3.3%
Intermodal 2,564 1,392 1,172 84.2% Lumber & Forest Products
25,445 23,724 1,721 7.3% Metallic Ores 3,005 2,785 220 7.9% Metals
26,447 23,124 3,323 14.4% Minerals & Stone 41,051 36,735 4,316
11.7% Petroleum Products 16,094 15,433 661 4.3% Pulp & Paper
27,731 26,318 1,413 5.4% Waste 9,812 9,312 500 5.4% Other 12,976
11,539 1,437 12.5% Total carloads 287,016 261,393 25,623 9.8%
Carloads from New Railroads(1) 1,243 Same-railroad carloads 285,773
261,393 24,380 9.3%
(1) Total carloads from HOG, which
contributed 676 carloads of lumber & forest products traffic
and 567 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 May2018
QTD May2017
Change
%Change
Agricultural Products 10,032 10,203 (171) (1.7%) Coal & Coke
65,198 65,323 (125) (0.2%) Intermodal 9,121 10,069 (948) (9.4%)
Metallic Ores 3,692 5,880 (2,188) (37.2%) Minerals & Stone
11,391 8,574 2,817 32.9% Petroleum Products 44 42 2 4.8% Total
carloads 99,478 100,091 (613) (0.6%)
(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 May2018
QTD May2017
Change
%Change
Agricultural Products 363 570 (207) (36.3%) Coal & Coke 2,813
3,374 (561) (16.6%) Intermodal 140,178 141,532 (1,354) (1.0%)
Minerals & Stone 33,349 28,534 4,815 16.9% Total carloads
176,703 174,010 2,693 1.5%
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
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/20180613006206/en/
Genesee & Wyoming Inc.Thomas D. Savage, 1-203-202-8900Senior
Vice President – Corporate Development &
Treasurerhttp://www.gwrr.com
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