Genesee & Wyoming Inc. (G&W) (NYSE:GWR) today reported
traffic volumes for March 2019.
G&W’s total traffic in March 2019 was 256,647 carloads, a
decrease of 23,265 carloads, or 8.3%, compared with March 2018.
G&W’s same railroad traffic in March 2019 decreased 10,958
carloads, or 4.1%, compared with G&W’s traffic in March 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 (Goderich-Exeter Railway (GEXR)
and Southern Ontario Railway (SOR)) in the fourth quarter of
2018.
G&W’s traffic in the first quarter of 2019 was 761,513
carloads, a decrease of 49,800 carloads, or 6.1%, compared with the
first quarter of 2018. G&W’s same railroad traffic in the first
quarter of 2019 decreased 12,208 carloads, or 1.6%, compared with
the first quarter of 2018, excluding carloads from ERS, which was
sold in June 2018, and short line lease expirations in Canada (GEXR
and SOR) in the fourth quarter of 2018. G&W’s North American
traffic and operations were affected by severe winter weather in
the U.S. and Canada and flooding in the U.S. in the first quarter
of 2019.
The table below sets forth summary total carloads by
segment.
Segment
March 2019
March 2018
Total Change
Total % Change
Same Railroad %
Change(1)
North American Operations 134,064 142,470 (8,406) (5.9%) (4.0%)
Australian Operations(2) 45,188 50,901 (5,713) (11.2%) (11.2%)
U.K./European Operations 77,395 86,541 (9,146) (10.6%) 0.5% Total
G&W Operations 256,647 279,912 (23,265) (8.3%) (4.1%) (1)
Excludes 2,811 carloads in March 2018 from short line leases in
Canada (GEXR and SOR), which expired in the fourth quarter of 2018
and 9,496 carloads in March 2018 from ERS, which was sold in June
2018. (2) 51.1% owned by G&W.
Highlights by Segment
- North American Operations: Traffic in
March 2019 was 134,064 carloads, a decrease of 5.9% compared with
March 2018. Same railroad traffic in March 2019 decreased 4.0%
compared with March 2018, excluding short line lease expirations in
Canada, primarily due to decreased coal & coke and other
commodity group traffic.
- Australian Operations: Traffic in March
2019 was 45,188 carloads, a decrease of 11.2% compared with March
2018, 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
March 2019 was 77,395 carloads, a decrease of 10.6% compared with
March 2018. Same railroad traffic in March 2019 increased 0.5%
compared with March 2018, excluding traffic from ERS, primarily due
to increased petroleum products traffic in the U.K., partially
offset by decreased minerals & stone traffic in U.K.
The table below sets forth North American Operations carload
information by commodity group.
North American Operations:
March 2019
March 2018
Total Change
Total % Change
Same Railroad %
Change(1)
Agricultural Products 19,732 18,896 836 4.4% 7.1% Autos & Auto
Parts 3,134 3,156 (22) (0.7%) 4.8% Chemicals & Plastics 14,465
15,319 (854) (5.6%) (1.9%) Coal & Coke 15,372 19,572 (4,200)
(21.5%) (21.5%) Food & Kindred Products 4,692 5,313 (621)
(11.7%) (8.8%) Intermodal 1,784 1,181 603 51.1% 51.1% Lumber &
Forest Products 11,479 12,672 (1,193) (9.4%) (8.8%) Metallic Ores
1,190 1,459 (269) (18.4%) (18.3%) Metals 13,031 12,667 364 2.9%
6.0% Minerals & Stone 17,021 17,550 (529) (3.0%) (1.2%)
Petroleum Products 8,689 8,199 490 6.0% 9.6% Pulp & Paper
13,633 14,442 (809) (5.6%) (5.5%) Waste 4,256 4,277 (21) (0.5%)
0.2% Other 5,586 7,767 (2,181) (28.1%) (24.9%) Total Carloads
134,064 142,470 (8,406) (5.9%) (4.0%) (1) Excludes 2,811 carloads
in March 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:
- Coal & coke traffic decreased 4,200
carloads, or 21.5%, primarily due to decreased shipments in
G&W’s Midwest region largely due to delayed shipments
associated with flooding.
- Other commodity group traffic decreased
1,850 carloads, or 24.9%, primarily due to decreased empty car
shipments in most G&W regions.
- All remaining traffic increased by a
net 455 carloads.
- In addition to coal traffic, severe
winter weather and flooding negatively affected traffic in minerals
& stone, lumber & forest products and pulp & paper
commodities.
The table below sets forth carload information for G&W’s
51.1% owned Australian Operations by commodity group.
Australian Operations(1):
March 2019
March 2018
Total Change
Total % Change
Agricultural Products 1,741 4,829 (3,088) (63.9%) Coal & Coke
31,435 34,508 (3,073) (8.9%) Intermodal 4,166 4,463 (297) (6.7%)
Metallic Ores 1,968 1,866 102 5.5% Minerals & Stone 5,851 5,218
633 12.1% Petroleum Products 27 17 10 58.8% Total Carloads 45,188
50,901 (5,713) (11.2%) (1) 51.1% owned by G&W.
- Agricultural products traffic decreased
3,088 carloads, or 63.9%, primarily due to a weaker 2018-2019 South
Australia grain harvest.
- Coal & coke traffic decreased 3,073
carloads, or 8.9%, primarily due to decreased shipments in the
Hunter Valley.
- All remaining traffic increased by a
net 448 carloads.
The table below sets forth U.K./European Operations carload
information by commodity group.
U.K./European Operations:
March 2019
March 2018
Total Change
Total % Change
Same Railroad %
Change(1)
Agricultural Products 110 318 (208) (65.4%) (65.4%) Coal & Coke
2,284 1,843 441 23.9% 23.9% Intermodal 58,582 67,590 (9,008)
(13.3%) 0.8% Minerals & Stone 15,360 16,790 (1,430) (8.5%)
(8.5%) Petroleum Products 1,059 - 1,059 NM NM Total Carloads 77,395
86,541 (9,146) (10.6%) 0.5% (1) Excludes 9,496 carloads in March
2018 from ERS, which was sold in June 2018.
The following highlights relate to U.K./European same railroad
traffic:
- Petroleum products traffic increased
1,059 due to new jet fuel shipments in the U.K.
- Minerals & stone traffic decreased
1,430 carloads, or 8.5%, primarily due to decreased shipments in
the U.K. in part due to a 3rd party derailment on the open access
rail network.
- All remaining traffic increased by a
net 721 carloads.
First Quarter of 2019
The table below sets forth summary total carloads by
segment.
Segment Q1 2019
Q1 2018
Total Change
Total % Change
Same Railroad %
Change(1)
North American Operations 393,857 406,013 (12,156) (3.0%) (1.2%)
Australian Operations(2) 137,378 143,515 (6,137) (4.3%) (4.3%)
U.K./European Operations 230,278 261,785 (31,507) (12.0%) (0.6%)
Total G&W Operations 761,513 811,313 (49,800) (6.1%) (1.6%) (1)
Excludes 7,466 carloads in Q1 2018 from short line leases in Canada
(GEXR and SOR), which expired in the fourth quarter of 2018 and
30,126 carloads in Q1 2018 from ERS, which was sold in June 2018.
(2) 51.1% owned by G&W.
The table below sets forth North American Operations carload
information by commodity group.
North American Operations: Q1
2019 Q1 2018
Total Change
Total % Change
Same Railroad %
Change(1)
Agricultural Products 54,255 53,764 491 0.9% 3.4% Autos & Auto
Parts 8,419 8,716 (297) (3.4%) 0.6% Chemicals & Plastics 40,928
43,342 (2,414) (5.6%) (2.0%) Coal & Coke 54,070 61,966 (7,896)
(12.7%) (12.7%) Food & Kindred Products 14,365 15,183 (818)
(5.4%) (2.6%) Intermodal 3,809 3,084 725 23.5% 23.5% Lumber &
Forest Products 32,945 36,250 (3,305) (9.1%) (8.6%) Metallic Ores
3,602 4,396 (794) (18.1%) (18.0%) Metals 37,250 35,238 2,012 5.7%
9.3% Minerals & Stone 47,505 47,696 (191) (0.4%) 1.4% Petroleum
Products 27,068 25,660 1,408 5.5% 9.2% Pulp & Paper 41,313
41,357 (44) (0.1%) 0.1% Waste 12,974 11,981 993 8.3% 9.0% Other
15,354 17,380 (2,026) (11.7%) (8.7%) Total Carloads 393,857 406,013
(12,156) (3.0%) (1.2%) (1) Excludes 7,466 carloads in Q1 2018 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):
Q1 2019 Q1 2018
Total Change
Total % Change
Agricultural Products 4,260 13,112 (8,852) (67.5%) Coal & Coke
99,502 96,856 2,646 2.7% Intermodal 11,701 12,754 (1,053) (8.3%)
Metallic Ores 5,357 4,871 486 10.0% Minerals & Stone 16,499
15,863 636 4.0% Petroleum Products 59 59 - 0.0% Total Carloads
137,378 143,515 (6,137) (4.3%) (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: Q1
2019 Q1 2018
Total Change
Total % Change
Same Railroad %
Change(1)
Agricultural Products 533 966 (433) (44.8%) (44.8%) Coal & Coke
8,284 5,895 2,389 40.5% 40.5% Intermodal 181,002 210,780 (29,778)
(14.1%) 0.2% Minerals & Stone 37,473 44,144 (6,671) (15.1%)
(15.1%) Petroleum Products 2,986 - 2,986 NM NM Total Carloads
230,278 261,785 (31,507) (12.0%) (0.6%) (1) Excludes 30,126
carloads in Q1 2018 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 eight
locally managed operating regions with 8,000 employees serving
3,000 customers.
- G&W’s six 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/20190415005874/en/
Genesee & Wyoming Inc.Thomas D. Savage, 1-203-202-8900Senior
Vice President – Corporate Development & TreasurerWeb Site:
http://www.gwrr.com
Genesee and Wyoming (NYSE:GWR)
Historical Stock Chart
From Jun 2024 to Jul 2024
Genesee and Wyoming (NYSE:GWR)
Historical Stock Chart
From Jul 2023 to Jul 2024