Genesee & Wyoming Inc. (G&W) (NYSE:GWR) today reported
traffic volumes for January 2019.
G&W’s total traffic in January 2019 was 267,794 carloads, a
decrease of 9,337 carloads, or 3.4%, compared with January 2018.
G&W’s same railroad traffic in January 2019 increased 3,179
carloads, or 1.2%, compared with G&W’s traffic in January 2018,
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 (GEXR and SOR) in the fourth
quarter of 2018.
The table below sets forth summary total carloads by
segment.
Segment
January2019
January2018
TotalChange
Total %Change
SameRailroad
%Change(1)
North American Operations 138,532 136,199 2,333 1.7% 3.6%
Australian Operations(2) 49,147 49,276 (129) (0.3%) (0.3%)
U.K./European Operations 80,115 91,656 (11,541) (12.6%) (1.8%)
Total G&W Operations 267,794 277,131 (9,337) (3.4%) 1.2% (1)
Excludes 2,442 carloads in January 2018 from two Canadian short
line lease expirations in the fourth quarter of 2018,
Goderich-Exeter Railway (GEXR) and Southern Ontario Railway (SOR)
and 10,074 carloads in January 2018 from ERS, which was sold in
June 2018. (2) 51.1% owned by G&W.
Highlights by Segment
- North American Operations: Traffic in
January 2019 was 138,532 carloads, an increase of 1.7% compared
with January 2018. Excluding traffic from short line lease
expirations in Canada, traffic in January 2019 increased 3.6%
compared with same railroad traffic in January 2018, primarily due
to increased petroleum products and metals traffic.
- Australian Operations: Traffic in
January 2019 was 49,147 carloads, a decrease of 0.3% compared with
January 2018, primarily due to decreased agricultural products
traffic, partially offset by increased 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
January 2019 was 80,115 carloads, a decrease of 12.6% compared with
January 2018. Excluding traffic from ERS, traffic in January 2019
decreased 1.8% compared with same railroad traffic in January 2018,
primarily due to decreased minerals and stone traffic in Poland,
partially offset by increased coal & coke traffic in Poland and
petroleum products traffic in the U.K.
The table below sets forth North American Operations carload
information by commodity group.
January2019
January2018
TotalChange
Total %Change
SameRailroad
%Change(1)
Agricultural Products 18,219 18,604 (385) (2.1%) (0.1%) Autos &
Auto Parts 2,667 3,091 (424) (13.7%) (11.5%) Chemicals &
Plastics 13,914 14,582 (668) (4.6%) (1.6%) Coal & Coke 21,194
21,560 (366) (1.7%) (1.7%) Food & Kindred Products 5,309 5,307
2 0.0% 3.3% Intermodal 1,108 1,050 58 5.5% 5.5% Lumber & Forest
Products 11,613 12,098 (485) (4.0%) (3.4%) Metallic Ores 1,395
1,435 (40) (2.8%) (2.7%) Metals 12,775 11,862 913 7.7% 12.2%
Minerals & Stone 15,340 14,957 383 2.6% 4.6% Petroleum Products
10,506 9,170 1,336 14.6% 18.7% Pulp & Paper 14,716 14,052 664
4.7% 5.0% Waste 4,730 3,921 809 20.6% 21.3% Other 5,046 4,510 536
11.9% 16.5% Total Carloads 138,532 136,199 2,333 1.7% 3.6% (1)
Excludes 2,442 carloads in January 2018 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:
- Petroleum products traffic increased
1,652 carloads, or 18.7%, primarily due to increased shipments of
liquid petroleum gases and natural gas liquids in G&W’s Western
and Southern regions and fuel oils in G&W’s Canada Region.
- Metals traffic increased 1,391
carloads, or 12.2%, primarily due to increased scrap and finished
steel shipments in most G&W regions.
- All remaining traffic increased by a
net 1,732 carloads.
The table below sets forth carload information for G&W’s
51.1% owned Australian Operations by commodity group.
Australian Operations(1):
January2019
January2018
Change % Change Agricultural Products 1,461 3,887
(2,426) (62.4%) Coal & Coke 36,196 33,811 2,385 7.1% Intermodal
3,951 4,358 (407) (9.3%) Metallic Ores 1,831 1,665 166 10.0%
Minerals & Stone 5,691 5,543 148 2.7% Petroleum Products 17 12
5 41.7% Total Carloads 49,147 49,276 (129) (0.3%) (1) 51.1%
owned by G&W.
- Agricultural products traffic decreased
2,426 carloads, or 62.4%, primarily due to a weaker 2018-2019 South
Australia grain harvest.
- Coal & coke traffic increased 2,385
carloads, or 7.1%, primarily due to increased shipments in the
Hunter Valley.
- All remaining traffic decreased by a
net 88 carloads.
The table below sets forth U.K./European Operations carload
information by commodity group.
U.K./European Operations:
January2019
January2018
TotalChange
Total %Change
SameRailroad
%Change(1)
Agricultural Products 275 286 (11) (3.8%) (3.8%) Coal & Coke
3,385 2,186 1,199 54.8% 54.8% Intermodal 65,210 75,436 (10,226)
(13.6%) (0.2%) Minerals & Stone 10,228 13,748 (3,520) (25.6%)
(25.6%) Petroleum Products 1,017 0 1,017 NM NM Total Carloads
80,115 91,656 (11,541) (12.6%) (1.8%) (1) Excludes 10,074
carloads from ERS in January 2018, which was sold in June 2018.
The following highlights relate to U.K./European same railroad
traffic:
- Minerals & stone traffic decreased
3,520 carloads, or 25.6%, primarily due to decreased aggregates
shipments in Poland.
- Coal & coke traffic increased 1,199
carloads, or 54.8%, primarily due to increased shipments in
Poland.
- Petroleum products traffic increased
1,017, primarily due to new business in the U.K.
- All remaining traffic decreased by a
net 163 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 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/20190212005191/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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