Genesee & Wyoming Inc. (G&W) (NYSE: GWR) today reported
traffic volumes for December 2018.
G&W’s total traffic in December 2018 was 242,846 carloads, a
decrease of 12,353 carloads, or 4.8%, compared with December 2017.
G&W’s same railroad traffic in December 2018 decreased 1,677
carloads, or 0.7%, compared with G&W’s traffic in December
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 in the fourth quarter of 2018.
G&W’s traffic in the fourth quarter of 2018 was 788,926
carloads, a decrease of 13,502 carloads, or 1.7%, compared with the
fourth quarter of 2017. G&W’s same railroad traffic in the
fourth quarter of 2018 increased 16,905 carloads, or 2.2%, compared
with the fourth quarter of 2017.
The table below sets forth summary total carloads by
segment.
Segment
December2018
December2017
Change
%Change
North American Operations 136,797 127,904 8,893 7.0% Australian
Operations(1) 45,092 47,465 (2,373) (5.0%) U.K./European Operations
60,957 79,830 (18,873) (23.6%) Total G&W Operations 242,846
255,199 (12,353) (4.8%) Carloads From Divested Operations(2) -
10,676 (10,676) NM Same Railroad Carloads 242,846 244,523 (1,677)
(0.7%) (1) 51.1% owned by G&W. (2) Includes 8,933 carloads from
ERS, which was sold in June 2018, and 1,743 carloads two Canadian
short line lease expirations in the fourth quarter of 2018,
Goderich-Exeter Railway (GEXR) and Southern Ontario Railway (SOR).
Highlights by Segment
- North American Operations: Traffic in
December 2018 was 136,797 carloads, an increase of 7.0% compared
with December 2017. Excluding traffic from short line lease
expirations in Canada, traffic in December 2018 increased 8.4%
compared with same railroad traffic in December 2017, primarily due
to increased coal & coke, metals and petroleum products
traffic.
- Australian Operations: Traffic in
December 2018 was 45,092 carloads, a decrease of 5.0% compared with
December 2017, primarily due to decreased agricultural products and
coal & coke traffic. Carload information for G&W’s 51.1%
owned Australian Operations is presented on a 100% basis.
- U.K./European Operations: Traffic in
December 2018 was 60,957 carloads, a decrease of 23.6% compared
with December 2017. Excluding traffic from ERS, traffic in December
2018 decreased 14.0% compared with same railroad traffic in
December 2017, primarily due to decreased intermodal traffic in the
U.K. and minerals and stone traffic in the U.K. and Poland.
The table below sets forth North American Operations carload
information by commodity group.
North American Operations:
December2018
December2017
Change
%Change
Agricultural Products 16,534 17,153 (619) (3.6%) Autos & Auto
Parts 2,531 2,787 (256) (9.2%) Chemicals & Plastics 13,918
13,640 278 2.0% Coal & Coke 23,441 18,435 5,006 27.2% Food
& Kindred Products 4,663 4,871 (208) (4.3%) Intermodal 1,369
815 554 68.0% Lumber & Forest Products 10,765 11,723 (958)
(8.2%) Metallic Ores 1,055 1,250 (195) (15.6%) Metals 12,649 10,567
2,082 19.7% Minerals & Stone 15,043 14,929 114 0.8% Petroleum
Products 10,372 8,693 1,679 19.3% Pulp & Paper 14,694 14,084
610 4.3% Waste 4,520 3,858 662 17.2% Other 5,243 5,099 144 2.8%
Total Carloads 136,797 127,904 8,893 7.0% Carloads From Divested
Operations(1) - 1,743 (1,743) NM Same Railroad Carloads 136,797
126,161 10,636 8.4% (1) Total carloads from short line leases in
Canada (GEXR and SOR), which expired in the fourth quarter of 2018.
The following highlights relate to North American same railroad
traffic:
- Coal & coke traffic increased 5,006
carloads, or 27.2%, primarily due to increased shipments in
G&W’s Midwest and Central regions.
- Metals traffic increased 2,410
carloads, or 23.5%, primarily due to increased scrap and finished
steel shipments in most G&W regions.
- Petroleum products traffic increased
1,819 carloads, or 21.3%, primarily due to increased shipments of
liquid petroleum gases and natural gas liquids in G&W’s Western
and Northeast regions.
- All remaining traffic increased by a
net 1,401 carloads.
The table below sets forth carload information for G&W’s
51.1% owned Australian Operations by commodity group.
Australian Operations(1):
December2018
December2017
Change
%Change
Agricultural Products 2,067 3,234 (1,167) (36.1%) Coal & Coke
31,013 31,940 (927) (2.9%) Intermodal 4,695 5,076 (381) (7.5%)
Metallic Ores 2,070 1,752 318 18.2% Minerals & Stone 5,227
5,441 (214) (3.9%) Petroleum Products 20 22 (2) (9.1%) Total
Carloads 45,092 47,465 (2,373) (5.0%) (1) 51.1% owned by G&W.
- Agricultural products traffic decreased
1,167 carloads, or 36.1%, primarily due to a weaker 2018-2019 South
Australia grain harvest.
- Coal & coke traffic decreased 927
carloads, or 2.9%, primarily due to decreased shipments in the
Hunter Valley.
- All remaining traffic decreased by a
net 279 carloads.
The table below sets forth U.K./European Operations carload
information by commodity group.
U.K./European Operations:
December2018
December2017
Change
%Change
Agricultural Products 249 354 (105) (29.7%) Coal & Coke 2,061
1,443 618 42.8% Intermodal 46,261 63,412 (17,151) (27.0%) Minerals
& Stone 11,688 14,621 (2,933) (20.1%) Petroleum Products 698 -
698 NM Total Carloads 60,957 79,830 (18,873) (23.6%) Carloads From
Divested Operations(1) - 8,933 (8,933) NM Same Railroad Carloads
60,957 70,897 (9,940) (14.0%) (1) Total carloads from ERS, which
was sold in June 2018.
The following highlights relate to U.K./European same railroad
traffic:
- Intermodal traffic in the U.K.
decreased 8,218 carloads, or 15.1%, primarily due to service plan
changes and temporary rail network outages.
- Minerals & stone traffic decreased
2,933 carloads, or 20.1%, primarily due to decreased aggregates
shipments in the U.K. and Poland.
- All remaining traffic increased by a
net 1,211 carloads.
Fourth Quarter of 2018
The table below sets forth summary total carloads by
segment.
Segment Q4 2018
Q4 2017 Change
%Change
North American Operations 418,388 395,422 22,966 5.8% Australian
Operations(1) 134,127 132,999 1,128 0.8% U.K./European Operations
236,411 274,007 (37,596) (13.7%) Total G&W Operations 788,926
802,428 (13,502) (1.7%) Carloads From Divested Operations(2) -
30,407 (30,407) NM Same Railroad Carloads 788,926 772,021 16,905
2.2% (1) 51.1% owned by G&W. (2) Includes 27,947 carloads from
ERS, which was sold in June 2018, and 2,460 carloads from two
Canadian short lines (GEXR and SOR) whose leases expired in the
fourth quarter of 2018.
The table below sets forth North American Operations carload
information by commodity group.
North American Operations: Q4 2018 Q4 2017
Change
% Change
Agricultural Products 51,768 51,679 89 0.2% Autos & Auto Parts
7,604 9,541 (1,937) (20.3%) Chemicals & Plastics 43,381 43,041
340 0.8% Coal & Coke 63,725 53,614 10,111 18.9% Food &
Kindred Products 15,129 15,216 (87) (0.6%) Intermodal 4,318 2,525
1,793 71.0% Lumber & Forest Products 34,043 35,836 (1,793)
(5.0%) Metallic Ores 3,991 4,085 (94) (2.3%) Metals 38,321 32,392
5,929 18.3% Minerals & Stone 51,179 53,552 (2,373) (4.4%)
Petroleum Products 29,709 24,593 5,116 20.8% Pulp & Paper
42,886 41,041 1,845 4.5% Waste 14,946 12,620 2,326 18.4% Other
17,388 15,687 1,701 10.8% Total Carloads 418,388 395,422 22,966
5.8% Carloads From Divested Operations(1) - 2,460 (2,460) NM Same
Railroad Carloads 418,388 392,962 25,426 6.5% (1) Total carloads
from short line leases in Canada (GEXR and SOR), which 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): Q4 2018 Q4
2017 Change
%Change
Agricultural Products 3,532 8,105 (4,573) (56.4%) Coal & Coke
92,717 88,306 4,411 5.0% Intermodal 14,395 14,695 (300) (2.0%)
Metallic Ores 6,816 5,344 1,472 27.5% Minerals & Stone 16,609
16,478 131 0.8% Petroleum Products 58 71 (13) (18.3%) Total
Carloads 134,127 132,999 1,128 0.8% (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: Q4 2018 Q4 2017
Change
%Change
Agricultural Products 1,105 1,323 (218) (16.5%) Coal & Coke
5,319 4,070 1,249 30.7% Intermodal 181,466 220,881 (39,415) (17.8%)
Minerals & Stone 46,233 47,733 (1,500) (3.1%) Petroleum
Products 2,288 - 2,288 NM Total Carloads 236,411 274,007 (37,596)
(13.7%) Carloads From Divested Operations(1) - 27,947 (27,947) NM
Same Railroad Carloads 236,411 246,060 (9,649) (3.9%) (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 120 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 114
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/20190116005172/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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