Genesee & Wyoming Inc. (G&W) (NYSE:GWR) today reported
traffic volumes for July 2018.
G&W’s total traffic in July 2018 was 284,754 carloads, an
increase of 7,614 carloads, or 2.7%, compared with July 2017.
G&W’s same railroad traffic in July 2018 increased 18,063
carloads, or 6.8%, compared with G&W’s traffic in July 2017,
excluding carloads from G&W’s former Continental European
intermodal business (ERS), which was sold in June 2018.
The table below sets forth summary total carloads by
segment.
Segment July 2018
July 2017 Change
% Change
North American Operations 149,681 133,822 15,859 11.9% Australian
Operations(1) 55,337 52,328 3,009 5.8% U.K./European Operations
79,736 90,990 (11,254) (12.4%) Total G&W Operations 284,754
277,140 7,614 2.7% Carloads From Divested Operations(2) - 10,449
(10,449) NM Same Railroad Carloads 284,754 266,691 18,063 6.8% (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
July 2018 was 149,681 carloads, an increase of 11.9% compared with
July 2017, primarily due to increases across most commodity groups,
including metals, coal & coke, minerals & stone and
agricultural products.
- Australian Operations: Traffic in July
2018 was 55,337 carloads, an increase of 5.8% compared with July
2017, primarily due to increased coal & coke and minerals &
stone traffic, partially offset by decreased agricultural products
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
July 2018 was 79,736 carloads, a decrease of 12.4% compared with
July 2017. Excluding traffic from ERS, same railroad traffic in
July 2018 was 79,736 carloads, a decrease of 1.0% compared with
same railroad traffic in July 2017 of 80,541 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: July
2018 July 2017 Change
% Change
Agricultural Products 17,065 15,323 1,742 11.4% Autos & Auto
Parts 2,890 2,521 369 14.6% Chemicals & Plastics 14,538 14,564
(26) (0.2%) Coal & Coke 23,029 21,090 1,939 9.2% Food &
Kindred Products 4,820 4,499 321 7.1% Intermodal 1,167 1,001 166
16.6% Lumber & Forest Products 11,947 11,847 100 0.8% Metallic
Ores 1,478 1,534 (56) (3.7%) Metals 15,390 10,419 4,971 47.7%
Minerals & Stone 20,444 18,518 1,926 10.4% Petroleum Products
8,750 8,483 267 3.1% Pulp & Paper 15,560 14,511 1,049 7.2%
Waste 5,560 5,103 457 9.0% Other 7,043 4,409 2,634 59.7% Total
Carloads 149,681 133,822 15,859 11.9%
- Metals traffic increased 4,971
carloads, or 47.7%, primarily due to increased scrap and finished
steel shipments in most G&W regions.
- Other commodity group traffic increased
2,634 carloads, or 59.7%, primarily due to increased empty overhead
car shipments in most G&W regions.
- Coal & coke traffic increased 1,939
carloads, or 9.2%, primarily due to increased shipments of overhead
and export steam coal in G&W’s Northeast Region and steam coal
in G&W’s Midwest Region.
- Minerals & stone traffic increased
1,926 carloads, or 10.4%, primarily due to increased shipments of
construction aggregates and cement in most G&W regions.
- Agricultural products traffic increased
1,742 carloads, or 11.4%, primarily due to increased soybean meal
shipments in G&W’s Western Region.
- All remaining traffic increased by a
net 2,647 carloads.
The table below sets forth carload information for G&W’s
51.1% owned Australian Operations by commodity group.
Australian Operations(1):
July 2018 July 2017
Change
% Change
Agricultural Products 3,251 5,163 (1,912) (37.0%) Coal & Coke
39,076 33,844 5,232 15.5% Intermodal 5,079 5,396 (317) (5.9%)
Metallic Ores 2,108 3,287 (1,179) (35.9%) Minerals & Stone
5,786 4,607 1,179 25.6% Petroleum Products 37 31 6 19.4% Total
Carloads 55,337 52,328 3,009 5.8% (1) 51.1% owned by
G&W.
- Coal & coke traffic increased
5,232, or 15.5%, primarily due to increased demand as well as spot
coal shipments for various customers in the Hunter Valley.
- Minerals & stone traffic increased
1,179 carloads, or 25.6%, primarily due to increased gypsum
shipments as July 2017 was negatively impacted by an outage at a
customer port facility.
- Agricultural products traffic decreased
1,912 carloads, or 37.0%, primarily due to a weaker 2017-2018
harvest in South Australia.
- Metallic ores traffic decreased 1,179
carloads, or 35.9%, primarily due to the planned, temporary
shutdown of an iron ore mine in October 2017.
- All remaining traffic decreased by a
net 311 carloads.
The table below sets forth U.K./European Operations carload
information by commodity group.
U.K./European Operations: July
2018 July 2017 Change
% Change
Agricultural Products 145 108 37 34.3% Coal & Coke 1,066 925
141 15.2% Intermodal 62,279 73,276 (10,997) (15.0%) Minerals &
Stone 16,225 16,681 (456) (2.7%) Petroleum Products 21 - 21 NM
Total Carloads 79,736 90,990 (11,254) (12.4%) Carloads From
Divested Operations(1) - 10,449 (10,449) NM Same Railroad Carloads
79,736 80,541 (805) (1.0%) (1) Total carloads from ERS,
which was sold in June 2018.
The following highlights relate to U.K./European same railroad
traffic:
- Intermodal traffic decreased 548
carloads, or 0.9%, in the U.K. due to operational issues at a U.K.
port.
- All remaining traffic decreased by a
net 257 carloads.
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/20180813005144/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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