GWR Genesee and Wyoming Inc

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