Genesee & Wyoming Inc. (G&W) (NYSE:GWR) today reported
traffic volumes for June 2018 and the second quarter of 2018.
G&W’s total traffic in June 2018 was 271,166 carloads, a
decrease of 3,422 carloads, or 1.2%, compared with June 2017.
G&W’s same railroad traffic in June 2018 increased 5,740
carloads, or 2.2%, compared with G&W’s traffic in June 2017,
excluding carloads from G&W’s former Continental European
intermodal business (ERS), which was sold in June 2018.
G&W’s total traffic in the second quarter of 2018 was
834,363 carloads, an increase of 24,281 carloads, or 3.0%, compared
with the second quarter of 2017. G&W’s same railroad traffic in
the second quarter of 2018 was 812,297 carloads, an increase of
29,863, or 3.8%, compared with G&W’s same railroad traffic in
the second quarter of 2017. Second quarter same railroad traffic
excludes all traffic from ERS in Q2 2018 and Q2 2017 as well as
April 2018 and May 2018 traffic from the Heart of Georgia Railroad,
Inc. (HOG) which was acquired on May 31, 2017.
The table below sets forth summary total carloads by
segment.
Segment June 2018
June 2017 Change
%
Change
North American Operations 143,337 135,654 7,683 5.7% Australian
Operations(1) 48,487 45,998 2,489 5.4% U.K./European Operations
79,342 92,936 (13,594) (14.6%) Total G&W Operations 271,166
274,588 (3,422) (1.2%) Carloads From Divested Operations(2) - 9,162
(9,162) NM Same Railroad Carloads 271,166 265,426 5,740 2.2%
(1)
51.1% owned by G&W.
(2) Total carloads from ERS, which was sold in June 2018.
Highlights by Segment
- North American Operations: Traffic in
June 2018 was 143,337 carloads, an increase of 5.7% compared with
June 2017, primarily due to metals, coal & coke and other
commodity group traffic.
- Australian Operations: Traffic in June
2018 was 48,487 carloads, an increase of 5.4% compared with June
2017, primarily due to increased coal & coke traffic, partially
offset by decreased metallic ores and agricultural products
traffic. Carload information for G&W’s 51.1% owned Australian
Operations is presented on a 100% basis.
- U.K./European Operations: Traffic in
June 2018 was 79,342 carloads, a decrease of 14.6% compared with
June 2017. Excluding traffic from ERS, same railroad traffic in
June 2018 was 79,342 carloads, a decrease of 5.3% compared with
same railroad traffic in June 2017 of 83,774 carloads, primarily
due to decreased intermodal traffic in the U.K.
The table below sets forth North American Operations carload
information by commodity group.
North American Operations: June
2018 June 2017 Change
%
Change
Agricultural Products 16,122 17,330 (1,208) (7.0%) Autos & Auto
Parts 2,946 3,114 (168) (5.4%) Chemicals & Plastics 14,524
14,359 165 1.1% Coal & Coke 20,241 17,513 2,728 15.6% Food
& Kindred Products 4,682 4,911 (229) (4.7%) Intermodal 1,252
975 277 28.4% Lumber & Forest Products 12,288 11,895 393 3.3%
Metallic Ores 1,443 1,464 (21) (1.4%) Metals 14,359 11,571 2,788
24.1% Minerals & Stone 21,105 20,033 1,072 5.4% Petroleum
Products 8,246 8,479 (233) (2.7%) Pulp & Paper 14,031 13,495
536 4.0% Waste 5,025 5,075 (50) (1.0%) Other 7,073 5,440 1,633
30.0% Total Carloads 143,337 135,654 7,683 5.7%
- Metals traffic increased 2,788
carloads, or 24.1%, primarily due to increased scrap steel and coil
shipments in G&W’s Southern Region and scrap steel in G&W’s
Midwest Region.
- Coal & coke traffic increased 2,728
carloads, or 15.6%, primarily due to increased shipments in
G&W’s Midwest and Northeast regions, partially offset by
decreased shipments in G&W’s Central Region.
- Other commodity group traffic increased
1,633 carloads, or 30.0%, primarily due to increased empty overhead
car shipments in most G&W regions.
- All remaining traffic increased by a
net 534 carloads.
The table below sets forth carload information for G&W’s
51.1% owned Australian Operations by commodity group.
Australian Operations(1):
June 2018 June 2017
Change
%
Change
Agricultural Products 4,143 5,172 (1,029) (19.9%) Coal & Coke
32,084 27,336 4,748 17.4% Intermodal 4,836 5,090 (254) (5.0%)
Metallic Ores 1,894 2,974 (1,080) (36.3%) Minerals & Stone
5,500 5,404 96 1.8% Petroleum Products 30 22 8 36.4% Total Carloads
48,487 45,998 2,489 5.4%
(1) 51.1% owned by G&W.
- Coal & coke traffic increased
4,748, or 17.4%, primarily due to increased spot coal shipments for
various customers in the Hunter Valley.
- Metallic ores traffic decreased 1,080
carloads, or 36.3%, primarily due to the planned, temporary
shutdown of an iron ore mine in October 2017.
- Agricultural products traffic decreased
1,029 carloads, or 19.9%, primarily due to a weaker 2017-2018
harvest in South Australia.
- All remaining traffic decreased by a
net 150 carloads.
The table below sets forth U.K./European Operations carload
information by commodity group.
U.K./European Operations: June
2018 June 2017 Change
%
Change
Agricultural Products 244 176 68 38.6% Coal & Coke 1,225 600
625 NM Intermodal 60,880 75,559 (14,679) (19.4%) Minerals &
Stone 16,973 16,601 372 2.2% Petroleum Products 20 - 20 NM Total
Carloads 79,342 92,936 (13,594) (14.6%) Carloads From Divested
Operations(1) - 9,162 (9,162) NM Same Railroad Carloads 79,342
83,774 (4,432) (5.3%)
(1) Total intermodal carloads from ERS, which was sold in
June 2018.
The following highlights relate to U.K./European same railroad
traffic.
- Intermodal traffic decreased 5,517
carloads, or 8.3%, due to decreased shipments in the U.K. in part
due to operational issues at a U.K. port.
- All remaining traffic increased by a
net 1,085 carloads.
Second Quarter of 2018 Traffic
The table below sets forth summary total carloads by
segment.
Segment Q2 2018
Q2 2017 Change
%
Change
North American Operations 430,353 397,047 33,306 8.4% Australian
Operations(1) 147,965 146,089 1,876 1.3% U.K./European Operations
256,045 266,946 (10,901) (4.1%) Total G&W Operations 834,363
810,082 24,281 3.0% Adjusted Carloads(2) 22,066 27,648 (5,582) NM
Same Railroad Carloads 812,297 782,434 29,863 3.8%
(1) 51.1% owned by G&W. (2) Adjusted to exclude 1,243
carloads (April-May 2018) from HOG, which was acquired on May 31,
2017, and all carloads from ERS, which was sold in June 2018 and
contributed 20,823 intermodal carloads in Q2 2018 (April-May 2018)
and 27,648 intermodal carloads in Q2 2017.
The table below sets forth North American Operations carload
information by commodity group.
North American Operations: Q2
2018 Q2 2017 Change
%
Change
Agricultural Products 51,762 52,953 (1,191) (2.2%) Autos & Auto
Parts 9,106 9,184 (78) (0.8%) Chemicals & Plastics 45,285
44,814 471 1.1% Coal & Coke 59,346 46,501 12,845 27.6% Food
& Kindred Products 14,907 14,806 101 0.7% Intermodal 3,816
2,367 1,449 61.2% Lumber & Forest Products 37,733 35,619 2,114
5.9% Metallic Ores 4,448 4,249 199 4.7% Metals 40,806 34,695 6,111
17.6% Minerals & Stone 62,156 56,768 5,388 9.5% Petroleum
Products 24,340 23,912 428 1.8% Pulp & Paper 41,762 39,813
1,949 4.9% Waste 14,837 14,387 450 3.1% Other 20,049 16,979 3,070
18.1% Total Carloads 430,353 397,047 33,306 8.4% Carloads From New
Operations(1) 1,243 - 1,243 NM Same Railroad Carloads 429,110
397,047 32,063 8.1%
(1) Total carloads from HOG (April-May 2018), 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):
Q2 2018 Q2 2017
Change
%
Change
Agricultural Products 14,175 15,375 (1,200) (7.8%) Coal & Coke
97,282 92,659 4,623 5.0% Intermodal 13,957 15,159 (1,202) (7.9%)
Metallic Ores 5,586 8,854 (3,268) (36.9%) Minerals & Stone
16,891 13,978 2,913 20.8% Petroleum Products 74 64 10 15.6% Total
Carloads 147,965 146,089 1,876 1.3%
(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:
Q2 2018 Q2 2017
Change
%
Change
Agricultural Products 607 746 (139) (18.6%) Coal & Coke 4,038
3,974 64 1.6% Intermodal 201,058 217,091 (16,033) (7.4%) Minerals
& Stone 50,322 45,135 5,187 11.5% Petroleum Products 20 - 20 NM
Total Carloads 256,045 266,946 (10,901) (4.1%) Carloads From
Divested Operations(1) 20,823 27,648 (6,825) NM Same Railroad
Carloads 235,222 239,298 (4,076) (1.7%)
(1) Total intermodal carloads from ERS, which was sold in
June 2018.
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 121 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/20180717006033/en/
Genesee & Wyoming Inc.Thomas D. Savage, 1-203-202-8900Senior
Vice President – Corporate Development & TreasurerWeb Site:
http://www.gwrr.com
Genesee and Wyoming (NYSE:GWR)
Historical Stock Chart
From May 2024 to Jun 2024
Genesee and Wyoming (NYSE:GWR)
Historical Stock Chart
From Jun 2023 to Jun 2024