Genesee & Wyoming Inc. (G&W) (NYSE:GWR) today reported
traffic volumes for November 2018.
G&W’s total traffic in November 2018 was 259,900 carloads, a
decrease of 12,012 carloads, or 4.4%, compared with November 2017.
G&W’s same railroad traffic in November 2018 decreased 576
carloads, or 0.2%, compared with G&W’s traffic in November
2017, excluding carloads from G&W’s former Continental European
intermodal business (ERS), which was sold in June 2018, and short
line lease expirations in Canada (SOR and GEXR) in the fourth
quarter of 2018.
G&W’s traffic in the fourth quarter of 2018 through November
was 546,080 carloads, a decrease of 1,149 carloads, or 0.2%,
compared with the fourth quarter of 2017 through November.
G&W’s same railroad traffic in the fourth quarter of 2018
through November increased 18,582 carloads, or 3.5%, compared with
the fourth quarter of 2017 through November.
The table below sets forth summary total carloads by
segment.
Segment
November2018
November2017
Change
%Change
North American Operations 133,604 130,630 2,974 2.3% Australian
Operations(1) 39,813 42,767 (2,954) (6.9%) U.K./European Operations
86,483 98,515 (12,032) (12.2%) Total G&W Operations 259,900
271,912 (12,012) (4.4%) Carloads From Divested Operations(2) -
11,436 (11,436) NM Same Railroad Carloads 259,900 260,476 (576)
(0.2%) (1) 51.1% owned by G&W. (2) Includes 10,844 carloads
from ERS, which was sold in June 2018, and 592 carloads from short
line lease expirations in the fourth quarter of 2018.
Highlights by Segment
- North American Operations: Traffic in
November 2018 was 133,604 carloads, an increase of 2.3% compared
with November 2017. Excluding traffic from short line lease
expirations in Canada, traffic in November 2018 increased 2.7%
compared with same railroad traffic in November 2017, primarily due
to increased petroleum products and metals traffic, partially
offset by decreased minerals & stone traffic.
- Australian Operations: Traffic in
November 2018 was 39,813 carloads, a decrease of 6.9% compared with
November 2017, primarily due to decreased coal & coke 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
November 2018 was 86,483 carloads, a decrease of 12.2% compared
with November 2017. Excluding traffic from ERS, traffic in November
2018 decreased 1.4% compared with same railroad traffic in November
2017, 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:
November2018
November2017
Change % Change Agricultural Products 16,244 16,930
(686) (4.1%) Autos & Auto Parts 2,927 3,103 (176) (5.7%)
Chemicals & Plastics 14,174 14,672 (498) (3.4%) Coal & Coke
17,780 17,240 540 3.1% Food & Kindred Products 4,856 5,205
(349) (6.7%) Intermodal 1,372 819 553 67.5% Lumber & Forest
Products 11,207 11,993 (786) (6.6%) Metallic Ores 1,428 1,280 148
11.6% Metals 12,251 10,529 1,722 16.4% Minerals & Stone 16,159
17,730 (1,571) (8.9%) Petroleum Products 10,280 8,545 1,735 20.3%
Pulp & Paper 14,235 13,109 1,126 8.6% Waste 4,691 4,238 453
10.7% Other 6,000 5,237 763 14.6% Total Carloads 133,604 130,630
2,974 2.3% Carloads From Divested Operations(1) - 592 (592) NM Same
Railroad Carloads 133,604 130,038 3,566 2.7% (1) Total carloads
from short line leases in Canada (GEXR and SOR) that expired in the
fourth quarter of 2018.
The following highlights relate to North American same railroad
traffic:
- Petroleum products traffic increased
1,770 carloads, or 20.8%, primarily due to increased shipments in
G&W’s Canada and Northeast regions.
- Metals traffic increased 1,753
carloads, or 16.7%, primarily due to increased scrap steel and
finished steel shipments in G&W’s Northeast and Midwest
regions.
- Minerals & stone traffic decreased
1,384 carloads, or 7.9%, primarily due to decreased aggregates
shipments in G&W’s Central Region.
- All remaining traffic increased by a
net 1,427 carloads.
The table below sets forth carload information for G&W’s
51.1% owned Australian Operations by commodity group.
Australian Operations(1):
November2018
November2017
Change
%Change
Agricultural Products 1,108 2,647 (1,539) (58.1%) Coal & Coke
26,024 27,762 (1,738) (6.3%) Intermodal 4,733 4,785 (52) (1.1%)
Metallic Ores 2,275 1,870 405 21.7% Minerals & Stone 5,660
5,683 (23) (0.4%) Petroleum Products 13 20 (7) (35.0%) Total
Carloads 39,813 42,767 (2,954) (6.9%) (1) 51.1% owned by G&W.
- Coal & coke traffic decreased
1,738, or 6.3%, primarily due to decreased shipments in the Hunter
Valley.
- Agricultural products traffic decreased
1,539 carloads, or 58.1%, primarily due to a delayed start to the
2018-2019 South Australia grain harvest.
- All remaining traffic increased by a
net 323 carloads.
The table below sets forth U.K./European Operations carload
information by commodity group.
U.K./European Operations:
November2018
November2017
Change
%Change
Agricultural Products 390 516 (126) (24.4%) Coal & Coke 1,484
1,490 (6) (0.4%) Intermodal 66,971 78,930 (11,959) (15.2%) Minerals
& Stone 16,811 17,579 (768) (4.4%) Petroleum Products 827 - 827
NM Total Carloads 86,483 98,515 (12,032) (12.2%) Carloads From
Divested Operations(1) - 10,844 (10,844) NM Same Railroad Carloads
86,483 87,671 (1,188) (1.4%) (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 1,115 carloads, or 1.6%.
- All remaining traffic decreased by a
net 73 carloads.
Fourth Quarter of 2018 Through November
The table below sets forth summary total carloads by
segment.
Segment
QTDNovember2018
QTDNovember2017
Change
%Change
North American Operations 281,591 267,518 14,073 5.3% Australian
Operations(1) 89,035 85,534 3,501 4.1% U.K./European Operations
175,454 194,177 (18,723) (9.6%) Total G&W Operations 546,080
547,229 (1,149) (0.2%) Carloads From Divested Operations(2) -
19,731 (19,731) NM Same Railroad Carloads 546,080 527,498 18,582
3.5% (1) 51.1% owned by G&W. (2) Includes 19,014 carloads from
ERS, which was sold in June 2018, and 717 carloads from short line
lease expirations in the fourth quarter of 2018.
The table below sets forth North American Operations carload
information by commodity group.
North American Operations:
QTDNovember2018
QTDNovember2017
Change
%Change
Agricultural Products 35,234 34,526 708 2.1% Autos & Auto Parts
5,073 6,754 (1,681) (24.9%) Chemicals & Plastics 29,463 29,401
62 0.2% Coal & Coke 40,284 35,179 5,105 14.5% Food &
Kindred Products 10,466 10,345 121 1.2% Intermodal 2,949 1,710
1,239 72.5% Lumber & Forest Products 23,278 24,113 (835) (3.5%)
Metallic Ores 2,936 2,835 101 3.6% Metals 25,672 21,825 3,847 17.6%
Minerals & Stone 36,136 38,623 (2,487) (6.4%) Petroleum
Products 19,337 15,900 3,437 21.6% Pulp & Paper 28,192 26,957
1,235 4.6% Waste 10,426 8,762 1,664 19.0% Other 12,145 10,588 1,557
14.7% Total Carloads 281,591 267,518 14,073 5.3% Carloads From
Divested Operations(1) - 717 (717) NM Same Railroad Carloads
281,591 266,801 14,790 5.5% (1) Total carloads from short line
leases in Canada (GEXR and SOR) that expired in the fourth quarter
of 2018.
The table below sets forth carload information for G&W’s
51.1% owned Australian Operations by commodity group.
Australian Operations(1):
QTDNovember2018
QTDNovember2017
Change
%Change
Agricultural Products 1,465 4,871 (3,406) (69.9%) Coal & Coke
61,704 56,366 5,338 9.5% Intermodal 9,700 9,619 81 0.8% Metallic
Ores 4,746 3,592 1,154 32.1% Minerals & Stone 11,382 11,037 345
3.1% Petroleum Products 38 49 (11) (22.4%) Total Carloads 89,035
85,534 3,501 4.1% (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:
QTDNovember2018
QTDNovember2017
Change
%Change
Agricultural Products 856 969 (113) (11.7%) Coal & Coke 3,258
2,627 631 24.0% Intermodal 135,205 157,469 (22,264) (14.1%)
Minerals & Stone 34,545 33,112 1,433 4.3% Petroleum Products
1,590 - 1,590 NM Total Carloads 175,454 194,177 (18,723) (9.6%)
Carloads From Divested Operations(1) - 19,014 (19,014) NM Same
Railroad Carloads 175,454 175,163 291 0.2% (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/20181214005030/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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