Genesee & Wyoming Inc. (G&W) (NYSE:GWR) today reported
traffic volumes for August 2018.
G&W’s total traffic in August 2018 was 296,442 carloads, an
increase of 18,970 carloads, or 6.8%, compared with August 2017.
G&W’s same railroad traffic in August 2018 increased 29,674
carloads, or 11.1%, compared with G&W’s traffic in August 2017,
excluding carloads from G&W’s former Continental European
intermodal business (ERS), which was sold in June 2018.
G&W’s traffic in the third quarter of 2018 through August
was 581,196 carloads, an increase of 26,584 carloads, or 4.8%,
compared with the third quarter of 2017 through August. G&W’s
same railroad traffic in the third quarter of 2018 increased 47,737
carloads, or 8.9%, compared with the third quarter of 2017 through
August, excluding carloads from G&W’s former Continental
European intermodal business (ERS).
The table below sets forth summary total carloads by
segment.
Segment Aug 2018
Aug 2017 Change
% Change
North American Operations 157,699 141,221 16,478 11.7% Australian
Operations(1) 54,528 39,771 14,757 37.1% U.K./European Operations
84,215 96,480 (12,265) (12.7%) Total G&W Operations 296,442
277,472 18,970 6.8% Carloads From Divested Operations(2) 0 10,704
(10,704) NM Same Railroad Carloads 296,442 266,768 29,674 11.1%
(1) 51.1% owned by G&W. (2) Total carloads from
ERS, which was sold in June 2018.
August 2018 Highlights by Segment
- North American Operations: Traffic in
August 2018 was 157,699 carloads, an increase of 11.7% compared
with August 2017, with increases across most commodity groups,
including coal & coke, metals, minerals & stone and lumber
& forest products.
- Australian Operations: Traffic in
August 2018 was 54,528 carloads, an increase of 37.1% compared with
August 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
August 2018 was 84,215 carloads, a decrease of 12.7% compared with
August 2017. Excluding traffic from ERS, same railroad traffic in
August 2018 was 84,215 carloads, a decrease of 1.8% compared with
same railroad traffic in August 2017 of 85,776 carloads, primarily
due to lower intermodal traffic in the U.K.
The table below sets forth North American Operations carload
information by commodity group.
North American Operations: Aug 2018 Aug 2017
Change
% Change
Agricultural Products 17,415 16,309 1,106 6.8% Autos & Auto
Parts 3,036 3,545 (509) (14.4%) Chemicals & Plastics 15,456
15,008 448 3.0% Coal & Coke 25,738 21,056 4,682 22.2% Food
& Kindred Products 5,484 5,262 222 4.2% Intermodal 1,734 1,131
603 53.3% Lumber & Forest Products 13,595 12,095 1,500 12.4%
Metallic Ores 1,732 1,619 113 7.0% Metals 15,287 12,038 3,249 27.0%
Minerals & Stone 22,028 19,508 2,520 12.9% Petroleum Products
8,671 8,596 75 0.9% Pulp & Paper 15,279 14,319 960 6.7% Waste
5,449 4,920 529 10.8% Other 6,795 5,815 980 16.9% Total Carloads
157,699 141,221 16,478 11.7%
- Coal & coke traffic increased 4,682
carloads, or 22.2%, primarily due to increased shipments of steam
coal in G&W’s Midwest and Central regions.
- Metals traffic increased 3,249
carloads, or 27.0%, primarily due to increased scrap and finished
steel shipments in most G&W regions.
- Minerals & stone traffic increased
2,520 carloads, or 12.9%, primarily due to increased shipments of
construction aggregates and cement in most G&W regions and frac
sand in G&W’s Northeast Region.
- Lumber & forest products increased
1,500 carloads, or 12.4%, due to increased shipments of lumber in
all G&W regions.
- All remaining traffic increased by a
net 4,527 carloads.
The table below sets forth carload information for G&W’s
51.1% owned Australian Operations by commodity group.
Australian Operations(1): Aug 2018
Aug 2017 Change
% Change
Agricultural Products 2,499 4,223 (1,724) (40.8%) Coal & Coke
39,643 27,499 12,144 44.2% Intermodal 4,684 5,143 (459) (8.9%)
Metallic Ores 2,002 2,877 (875) (30.4%) Minerals & Stone 5,670
0 5,670 NM Petroleum Products 30 29 1 3.4% Total Carloads 54,528
39,771 14,757 37.1% (1) 51.1% owned by G&W.
- Coal & coke traffic increased
12,144, or 44.2%, primarily because traffic from August 2017
through December 2017 was negatively impacted by industrial action
at Hunter Valley coal mines.
- Minerals & stone traffic increased
5,670 carloads, primarily as gypsum traffic from August 2017
through September 2017 was negatively impacted by an outage at a
customer port facility.
- Agricultural products traffic decreased
1,724 carloads, or 40.8%, primarily due to a weaker 2017-2018
harvest in South Australia.
- Metallic ores traffic decreased 875
carloads, or 30.4%, primarily due to the planned, temporary
shutdown of an iron ore mine in October 2017.
- All remaining traffic decreased by a
net 458 carloads.
The table below sets forth U.K./European Operations carload
information by commodity group.
U.K./European Operations: Aug
2018 Aug 2017 Change
% Change
Agricultural Products 313 364 (51) (14.0%) Coal & Coke 1,681
1,174 507 43.2% Intermodal 66,174 78,603 (12,429) (15.8%) Minerals
& Stone 16,026 16,339 (313) (1.9%) Petroleum Products 21 0 21
NM Total Carloads 84,215 96,480 (12,265) (12.7%) Carloads From
Divested Operations(1) 0 10,704 (10,704) NM Same Railroad Carloads
84,215 85,776 (1,561) (1.8%) (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 1,725
carloads, or 2.5%, due to decreased shipments in the U.K. primarily
caused by operational issues at a U.K. port.
- All remaining traffic increased by a
net 164 carloads.
Third Quarter of 2018 Through August
The table below sets forth summary total carloads by
segment.
Segment
QTD August 2018
QTD August 2017
Change
% Change
North American Operations 307,380 275,043 32,337 11.8% Australian
Operations(1) 109,865 92,099 17,766 19.3% U.K./European Operations
163,951 187,470 (23,519) (12.5%) Total G&W Operations 581,196
554,612 26,584 4.8% Carloads From Divested Operations(2) 0 21,153
(21,153) NM Same Railroad Carloads 581,196 533,459 47,737 8.9%
(1) 51.1% owned by G&W. (2) Total carloads from
ERS, which was sold in June 2018.
The table below sets forth North American Operations carload
information by commodity group.
North American Operations:
QTD August 2018
QTD August 2017
Change
% Change
Agricultural Products 34,480 31,632 2,848 9.0% Autos & Auto
Parts 5,926 6,066 (140) (2.3%) Chemicals & Plastics 29,994
29,572 422 1.4% Coal & Coke 48,767 42,146 6,621 15.7% Food
& Kindred Products 10,304 9,761 543 5.6% Intermodal 2,901 2,132
769 36.1% Lumber & Forest Products 25,542 23,942 1,600 6.7%
Metallic Ores 3,210 3,153 57 1.8% Metals 30,677 22,457 8,220 36.6%
Minerals & Stone 42,472 38,026 4,446 11.7% Petroleum Products
17,421 17,079 342 2.0% Pulp & Paper 30,839 28,830 2,009 7.0%
Waste 11,009 10,023 986 9.8% Other 13,838 10,224 3,614 35.3% Total
Carloads 307,380 275,043 32,337 11.8%
The table below sets forth carload information for G&W’s
51.1% owned Australian Operations by commodity group.
Australian Operations(1):
QTD August 2018
QTD August 2017
Change
% Change
Agricultural Products 5,750 9,386 (3,636) (38.7%) Coal & Coke
78,719 61,343 17,376 28.3% Intermodal 9,763 10,539 (776) (7.4%)
Metallic Ores 4,110 6,164 (2,054) (33.3%) Minerals & Stone
11,456 4,607 6,849 NM Petroleum Products 67 60 7 11.7% Total
Carloads 109,865 92,099 17,766 19.3% (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:
QTD August 2018
QTD August 2017
Change
% Change
Agricultural Products 458 472 (14) (3.0%) Coal & Coke 2,747
2,099 648 30.9% Intermodal 128,453 151,879 (23,426) (15.4%)
Minerals & Stone 32,251 33,020 (769) (2.3%) Petroleum Products
42 0 42 NM Total Carloads 163,951 187,470 (23,519) (12.5%) Carloads
From Divested Operations(1) 0 21,153 (21,153) NM Same Railroad
Carloads 163,951 166,317 (2,366) (1.4%) (1) Total
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/20180914005076/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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