Genesee & Wyoming Inc. (G&W) (NYSE:GWR) today reported
traffic volumes for October 2018.
G&W’s total traffic in October 2018 was 286,180 carloads, an
increase of 10,863 carloads, or 3.9%, compared with October 2017.
G&W’s same railroad traffic in October 2018 increased 19,033
carloads, or 7.1%, compared with G&W’s traffic in October 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
October 2018
October 2017
Change
% Change
North American Operations 147,987 136,888 11,099 8.1% Australian
Operations(1) 49,222 42,767 6,455 15.1% U.K./European Operations
88,971 95,662 (6,691) (7.0%) Total G&W Operations 286,180
275,317 10,863 3.9% Carloads From Divested Operations(2) - 8,170
(8,170) NM Same Railroad Carloads 286,180 267,147 19,033 7.1% (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
October 2018 was 147,987 carloads, an increase of 8.1% compared
with October 2017, primarily due to increases across most commodity
groups, including coal & coke, metals and petroleum
products.
- Australian Operations: Traffic in
October 2018 was 49,222 carloads, an increase of 15.1% compared
with October 2017, primarily due to increased coal & coke
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
October 2018 was 88,971 carloads, a decrease of 7.0% compared with
October 2017. Excluding traffic from ERS, same railroad traffic in
October 2018 was 88,971 carloads, an increase of 1.7% compared with
same railroad traffic in October 2017 of 87,492 carloads, primarily
due to increased minerals & stone traffic in Poland and the
U.K., partially offset by decreased intermodal traffic in the
U.K.
The table below sets forth North American Operations carload
information by commodity group.
North American Operations:
October 2018
October 2017
Change
% Change
Agricultural Products 18,990 17,596 1,394 7.9% Autos & Auto
Parts 2,146 3,651 (1,505) (41.2%) Chemicals & Plastics 15,289
14,729 560 3.8% Coal & Coke 22,504 17,939 4,565 25.4% Food
& Kindred Products 5,610 5,140 470 9.1% Intermodal 1,577 891
686 77.0% Lumber & Forest Products 12,071 12,120 (49) (0.4%)
Metallic Ores 1,508 1,555 (47) (3.0%) Metals 13,421 11,296 2,125
18.8% Minerals & Stone 19,977 20,893 (916) (4.4%) Petroleum
Products 9,057 7,355 1,702 23.1% Pulp & Paper 13,957 13,848 109
0.8% Waste 5,735 4,524 1,211 26.8% Other 6,145 5,351 794 14.8%
Total Carloads 147,987 136,888 11,099 8.1%
- Coal & coke traffic increased 4,565
carloads, or 25.4%, primarily due to increased shipments of steam
coal in G&W’s Midwest Region.
- Metals traffic increased 2,125
carloads, or 18.8%, primarily due to increased finished steel and
scrap steel shipments in G&W’s Southern, Midwest and Canada
regions.
- Petroleum products traffic increased
1,702 carloads, or 23.1%, primarily due to increased shipments in
G&W’s Canada, Northeast and Southern regions.
- Autos & auto parts traffic
decreased 1,505 carloads, or 41.2%, primarily due to decreased
shipments in G&W’s Western and Midwest regions.
- All remaining traffic increased by a
net 4,212 carloads.
The table below sets forth carload information for G&W’s
51.1% owned Australian Operations by commodity group.
Australian Operations(1):
October 2018
October 2017
Change
% Change
Agricultural Products 357 2,224 (1,867) (83.9%) Coal & Coke
35,680 28,604 7,076 24.7% Intermodal 4,967 4,834 133 2.8% Metallic
Ores 2,471 1,722 749 43.5% Minerals & Stone 5,722 5,354 368
6.9% Petroleum Products 25 29 (4) (13.8%) Total Carloads 49,222
42,767 6,455 15.1% (1) 51.1% owned by G&W.
- Coal & coke traffic increased
7,076, or 24.7%, primarily as traffic from August 2017 through
December 2017 was negatively impacted by industrial action at
Hunter Valley coal mines.
- Agricultural products traffic decreased
1,867 carloads, or 83.9%, primarily due to a weaker 2017-2018
harvest in South Australia.
- All remaining traffic increased by a
net 1,246 carloads.
The table below sets forth U.K./European Operations carload
information by commodity group.
U.K./European Operations:
October 2018
October 2017
Change
% Change
Agricultural Products 466 453 13 2.9% Coal & Coke 1,774 1,137
637 56.0% Intermodal 68,234 78,539 (10,305) (13.1%) Minerals &
Stone 17,734 15,533 2,201 14.2% Petroleum Products 763 - 763 NM
Total Carloads 88,971 95,662 (6,691) (7.0%) Carloads From Divested
Operations(1) - 8,170 (8,170) NM Same Railroad Carloads 88,971
87,492 1,479 1.7% (1) Total carloads from ERS, which was
sold in June 2018.
The following highlights relate to U.K./European same railroad
traffic.
- Minerals & stone traffic increased
2,201 carloads, or 14.2%, primarily due to increased aggregates
shipments in Poland and the U.K.
- Intermodal traffic in the U.K.
decreased 2,135 carloads, or 3.0%, primarily due to service
cancellations resulting from near-term driver shortages.
- All remaining traffic increased by a
net 1,413 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/20181113005279/en/
Genesee & Wyoming Inc.Thomas D. Savage, 1-203-202-8900Senior
Vice President – Corporate Development &
Treasurerhttp://www.gwrr.com
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