Genesee & Wyoming Inc. (G&W) (NYSE:GWR) today reported
traffic volumes for September 2018.
G&W’s total traffic in September 2018 was 257,723 carloads,
a decrease of 1,793 carloads, or 0.7%, compared with September
2017. G&W’s same railroad traffic in September 2018 increased
8,293 carloads, or 3.3%, compared with G&W’s traffic in
September 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 was 838,919
carloads, an increase of 24,791 carloads, or 3.0%, compared with
the third quarter of 2017. G&W’s same railroad traffic in the
third quarter of 2018 increased 56,030 carloads, or 7.2%, compared
with the third quarter of 2017, excluding carloads from ERS.
The table below sets forth summary total carloads by
segment.
Segment Sep 2018 Sep 2017 Change %
Change North American Operations 138,839 132,654 6,185 4.7%
Australian Operations(1) 41,453 31,552 9,901 31.4% U.K./European
Operations 77,431 95,310 (17,879) (18.8%) Total G&W Operations
257,723 259,516 (1,793) (0.7%) Carloads From Divested Operations(2)
0 10,086 (10,086) NM Same Railroad Carloads 257,723 249,430 8,293
3.3% (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
September 2018 was 138,839 carloads, an increase of 4.7% compared
with September 2017, primarily due to increases across most
commodity groups, including coal & coke and metals.
- Australian Operations: Traffic in
September 2018 was 41,453 carloads, an increase of 31.4% compared
with September 2017, primarily due to increased coal & coke and
minerals & stone traffic, partially offset by decreased
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
September 2018 was 77,431 carloads, a decrease of 18.8% compared
with September 2017. Excluding traffic from ERS, same railroad
traffic in September 2018 was 77,431 carloads, a decrease of 9.1%
compared with same railroad traffic in September 2017 of 85,224
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: Sep 2018 Sep 2017
Change % Change Agricultural Products 16,509 15,956
553 3.5% Autos & Auto Parts 2,798 3,662 (864) (23.6%) Chemicals
& Plastics 13,909 14,167 (258) (1.8%) Coal & Coke 21,547
18,718 2,829 15.1% Food & Kindred Products 5,008 4,654 354 7.6%
Intermodal 2,021 1,013 1,008 99.5% Lumber & Forest Products
11,786 11,904 (118) (1.0%) Metallic Ores 1,445 1,514 (69) (4.6%)
Metals 13,075 11,546 1,529 13.2% Minerals & Stone 18,024 19,078
(1,054) (5.5%) Petroleum Products 8,810 7,693 1,117 14.5% Pulp
& Paper 13,564 13,414 150 1.1% Waste 4,850 4,307 543 12.6%
Other 5,493 5,028 465 9.2% Total Carloads 138,839 132,654 6,185
4.7%
- Coal & coke traffic increased 2,829
carloads, or 15.1%, primarily due to increased shipments of steam
coal in G&W’s Midwest Region.
- Metals traffic increased 1,529
carloads, or 13.2%, primarily due to increased finished steel
shipments in G&W’s Southern Region.
- All remaining traffic increased by a
net 1,827 carloads.
The table below sets forth carload information for G&W’s
51.1% owned Australian Operations by commodity group.
Australian Operations(1):
Sep 2018 Sep 2017
Change % Change Agricultural Products
779 3,777 (2,998) (79.4%) Coal & Coke 28,090 19,799 8,291 41.9%
Intermodal 4,847 4,877 (30) (0.6%) Metallic Ores 2,354 2,190 164
7.5% Minerals & Stone 5,357 881 4,476 NM Petroleum Products 26
28 (2) (7.1%) Total Carloads 41,453 31,552 9,901 31.4% (1)
51.1% owned by G&W.
- Coal & coke traffic increased
8,291, or 41.9%, primarily as traffic from August 2017 through
December 2017 was negatively impacted by industrial action at
Hunter Valley coal mines. Note coal traffic in September 2018 was
adversely affected by a third-party derailment on the open access
network as well as a typhoon in Japan that temporarily reduced coal
shipments.
- Minerals & stone traffic increased
4,476 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
2,998 carloads, or 79.4%, primarily due to a weaker 2017-2018
harvest in South Australia.
- All remaining traffic increased by a
net 132 carloads.
The table below sets forth U.K./European Operations carload
information by commodity group.
U.K./European Operations: Sep 2018 Sep 2017
Change % Change Agricultural Products 318 305 13 4.3%
Coal & Coke 1,524 1,699 (175) (10.3%) Intermodal 59,549 77,180
(17,631) (22.8%) Minerals & Stone 15,860 16,126 (266) (1.6%)
Petroleum Products 180 0 180 NM Total Carloads 77,431 95,310
(17,879) (18.8%) Carloads From Divested Operations(1) 0 10,086
(10,086) NM Same Railroad Carloads 77,431 85,224 (7,793) (9.1%) (1)
Total carloads from ERS, which was sold in June 2018.
The following highlights relate to U.K./European same railroad
traffic.
- Intermodal traffic in the U.K.
decreased 7,545 carloads, or 11.2%.
- All remaining traffic decreased by a
net 248 carloads.
Third Quarter of 2018
The table below sets forth summary total carloads by
segment.
Segment Q3 2018 Q3 2017 Change %
Change North American Operations 446,219 407,697 38,522 9.4%
Australian Operations(1) 151,318 123,651 27,667 22.4% U.K./European
Operations 241,382 282,780 (41,398) (14.6%) Total G&W
Operations 838,919 814,128 24,791 3.0% Carloads From Divested
Operations(2) 0 31,239 (31,239) NM Same Railroad Carloads 838,919
782,889 56,030 7.2% (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: Q3 2018 Q3 2017
Change % Change Agricultural Products 50,989 47,588
3,401 7.1% Autos & Auto Parts 8,724 9,728 (1,004) (10.3%)
Chemicals & Plastics 43,903 43,739 164 0.4% Coal & Coke
70,314 60,864 9,450 15.5% Food & Kindred Products 15,312 14,415
897 6.2% Intermodal 4,922 3,145 1,777 56.5% Lumber & Forest
Products 37,328 35,846 1,482 4.1% Metallic Ores 4,655 4,667 (12)
(0.3%) Metals 43,752 34,003 9,749 28.7% Minerals & Stone 60,496
57,104 3,392 5.9% Petroleum Products 26,231 24,772 1,459 5.9% Pulp
& Paper 44,403 42,244 2,159 5.1% Waste 15,859 14,330 1,529
10.7% Other 19,331 15,252 4,079 26.7% Total Carloads 446,219
407,697 38,522 9.4%
The table below sets forth carload information for G&W’s
51.1% owned Australian Operations by commodity group.
Australian Operations(1): Q3 2018 Q3
2017 Change % Change Agricultural Products 6,529
13,163 (6,634) (50.4%) Coal & Coke 106,809 81,142 25,667 31.6%
Intermodal 14,610 15,416 (806) (5.2%) Metallic Ores 6,464 8,354
(1,890) (22.6%) Minerals & Stone 16,813 5,488 11,325 NM
Petroleum Products 93 88 5 5.7% Total Carloads 151,318 123,651
27,667 22.4% (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: Q3
2018 Q3 2017 Change
% Change Agricultural Products 776 777 (1)
(0.1%) Coal & Coke 4,271 3,798 473 12.5% Intermodal 188,002
229,059 (41,057) (17.9%) Minerals & Stone 48,111 49,146 (1,035)
(2.1%) Petroleum Products 222 0 222 NM Total Carloads 241,382
282,780 (41,398) (14.6%) Carloads From Divested Operations(1) 0
31,239 (31,239) NM Same Railroad Carloads 241,382 251,541 (10,159)
(4.0%) (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/20181016005331/en/
Genesee & Wyoming Inc.Thomas D. Savage, 1-203-202-8900Senior
Vice President – Corporate Development &
Treasurerhttp://www.gwrr.com
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