Genesee & Wyoming Inc. (G&W) (NYSE:GWR) today reported
traffic volumes for April 2019.
G&W’s total traffic in April 2019 was 255,647 carloads, a
decrease of 14,454 carloads, or 5.4%, compared with April 2018.
G&W’s same railroad traffic in April 2019 decreased 815
carloads, or 0.3%, compared with G&W’s traffic in April 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.
The table below sets forth summary total carloads by
segment.
Segment April 2019
April 2018
Total Change
Total % Change
Same Railroad %
Change(1)
North American Operations 139,903 135,938 3,965 2.9% 4.8%
Australian Operations(2) 43,123 48,229 (5,106) (10.6%) (10.6%)
U.K./European Operations 72,621 85,934 (13,313) (15.5%) (2.8%)
Total G&W Operations 255,647 270,101 (14,454) (5.4%) (0.3%) (1)
Excludes 2,441 carloads in April 2018 from short line leases in
Canada (GEXR and SOR), which expired in the fourth quarter of 2018
and 11,198 carloads in April 2018 from ERS, which was sold in June
2018. (2) 51.1% owned by G&W.
Highlights by Segment
- North American Operations: Traffic in
April 2019 was 139,903 carloads, an increase of 2.9% compared with
April 2018. Same railroad traffic in April 2019 increased 4.8%
compared with April 2018, excluding short line lease expirations in
Canada, primarily due to increased agricultural products, minerals
& stone and chemicals & plastics traffic, partially offset
by decreased coal & coke traffic.
- Australian Operations: Traffic in April
2019 was 43,123 carloads, a decrease of 10.6% compared with April
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
April 2019 was 72,621 carloads, a decrease of 15.5% compared with
April 2018. Same railroad traffic in April 2019 decreased 2.8%
compared with April 2018, excluding traffic from ERS, primarily due
to decreased intermodal traffic in the U.K., partially offset by
increased petroleum products traffic in the U.K.
The table below sets forth North American Operations carload
information by commodity group.
North American Operations: April
2019 April 2018
Total Change
Total % Change
Same Railroad %
Change(1)
Agricultural Products 19,359 17,054 2,305 13.5% 15.9% Autos &
Auto Parts 2,723 3,082 (359) (11.6%) (7.1%) Chemicals &
Plastics 15,763 14,289 1,474 10.3% 14.2% Coal & Coke 16,688
19,029 (2,341) (12.3%) (12.3%) Food & Kindred Products 5,079
4,881 198 4.1% 7.0% Intermodal 1,872 1,366 506 37.0% 37.0% Lumber
& Forest Products 12,003 12,274 (271) (2.2%) (1.6%) Metallic
Ores 1,228 1,418 (190) (13.4%) (13.3%) Metals 11,970 12,517 (547)
(4.4%) (0.7%) Minerals & Stone 21,163 19,051 2,112 11.1% 13.0%
Petroleum Products 8,109 7,563 546 7.2% 11.4% Pulp & Paper
12,776 13,079 (303) (2.3%) (2.1%) Waste 5,108 4,445 663 14.9% 15.8%
Other 6,062 5,890 172 2.9% 5.0% Total Carloads 139,903 135,938
3,965 2.9% 4.8% (1) Excludes 2,441 carloads in April 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:
- Agricultural products traffic increased
2,658 carloads, or 15.9%, primarily due to increased shipments in
G&W’s Western and Midwest regions.
- Minerals & stone traffic increased
2,434 carloads, or 13.0%, due to increased shipments in all G&W
regions, led by the Northeast Region.
- Chemicals & plastics traffic
increased 1,957 carloads, or 14.2%, primarily due to increased
shipments in G&W’s Western and Midwest regions.
- Coal & coke traffic decreased 2,341
carloads, or 12.3%, primarily due to decreased shipments in
G&W’s Southern Region, partially offset by increased shipments
in G&W’s Northeast Region.
- All remaining traffic increased by a
net 1,698 carloads.
The table below sets forth carload information for G&W’s
51.1% owned Australian Operations by commodity group.
Australian Operations(1):
April 2019
April 2018
Total Change
Total % Change
Agricultural Products 1,724 5,060 (3,336) (65.9%) Coal & Coke
30,287 31,376 (1,089) (3.5%) Intermodal 4,153 4,266 (113) (2.6%)
Metallic Ores 1,794 1,886 (92) (4.9%) Minerals & Stone 5,148
5,618 (470) (8.4%) Petroleum Products 17 23 (6) (26.1%) Total
Carloads 43,123 48,229 (5,106) (10.6%) (1) 51.1% owned by
G&W.
- Agricultural products traffic decreased
3,336 carloads, or 65.9%, primarily due to a weaker 2018-2019 South
Australia grain harvest.
- Coal & coke traffic decreased 1,089
carloads, or 3.5%, primarily due to decreased shipments in the
Hunter Valley.
- All remaining traffic decreased by a
net 681 carloads.
The table below sets forth U.K./European Operations carload
information by commodity group.
U.K./European Operations: April
2019 April 2018
Total Change
Total % Change
Same Railroad %
Change(1)
Agricultural Products 253 146 107 73.3% 73.3% Coal & Coke 975
1,251 (276) (22.1%) (22.1%) Intermodal 54,783 68,210 (13,427)
(19.7%) (3.9%) Minerals & Stone 15,427 16,327 (900) (5.5%)
(5.5%) Petroleum Products 1,183 - 1,183 NM NM Total Carloads 72,621
85,934 (13,313) (15.5%) (2.8%) (1) Excludes 11,198 carloads
in April 2018 from ERS, which was sold in June 2018.
The following highlights relate to U.K./European same railroad
traffic:
- Intermodal traffic decreased 2,229
carloads, or 3.9%, due to decreased shipments in the U.K.
- Petroleum products traffic increased
1,183 carloads due to new jet fuel shipments in the U.K.
- All remaining traffic decreased by a
net 1,069 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 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/20190514005136/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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