Genesee & Wyoming Inc. (G&W) (NYSE:GWR) today reported traffic volumes for January 2018.
G&W’s traffic in January 2018 was 277,131 carloads, a decrease of 1,137 carloads, or 0.4%, compared with January 2017. G&W’s same-railroad traffic in January 2018 was 276,630 carloads, a decrease of 1,638 carloads, or 0.6%, compared with January 2017.
The table below sets forth summary total carloads by segment for January 2018 and January 2017.
| Segment | January | January | Change | % | |||||||||
| North American Operations | 136,199 | 138,551 | (2,352) | (1.7%) | |||||||||
| Australian Operations(1) | 49,276 | 51,977 | (2,701) | (5.2%) | |||||||||
| U.K./European Operations | 91,656 | 87,740 | 3,916 | 4.5% | |||||||||
| Total G&W Operations | 277,131 | 278,268 | (1,137) | (0.4%) | |||||||||
| Carloads from New Railroads | 501 | ||||||||||||
| Same-railroad carloads | 276,630 | 278,268 | (1,638) | (0.6%) | |||||||||
| (1) 51.1% owned by G&W. | |||||||||||||
January 2018 Highlights by Segment
- North American Operations: Traffic in January 2018 was 136,199 carloads, a decrease of 1.7% compared with January 2017, including carloads from the Heart of Georgia Railroad, Inc. (HOG), which was acquired on May 31, 2017. On a same-railroad basis, North American traffic decreased 2.1%, primarily due to decreased agricultural products and chemicals & plastics traffic.
- Australian Operations: Traffic in January 2018 was 49,276 carloads, a decrease of 5.2% compared with January 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 January 2018 was 91,656 carloads, an increase of 4.5% compared with January 2017, primarily due to increased minerals & stone traffic in Poland and the U.K., partially offset by decreased coal & coke traffic in the U.K.
The table below sets forth North American Operations carload information for January 2018 and January 2017 by commodity group.
| North American Operations: | January | January | Change | % Change | |||||||||
| Agricultural Products | 18,604 | 19,894 | (1,290) | (6.5%) | |||||||||
| Autos & Auto Parts | 3,091 | 2,757 | 334 | 12.1% | |||||||||
| Chemicals & Plastics | 14,582 | 15,835 | (1,253) | (7.9%) | |||||||||
| Coal & Coke | 21,560 | 22,407 | (847) | (3.8%) | |||||||||
| Food & Kindred Products | 5,307 | 4,976 | 331 | 6.7% | |||||||||
| Intermodal | 1,050 | 509 | 541 | NM | |||||||||
| Lumber & Forest Products | 12,098 | 10,682 | 1,416 | 13.3% | |||||||||
| Metallic Ores | 1,435 | 1,741 | (306) | (17.6%) | |||||||||
| Metals | 11,862 | 11,728 | 134 | 1.1% | |||||||||
| Minerals & Stone | 14,957 | 15,475 | (518) | (3.3%) | |||||||||
| Petroleum Products | 9,170 | 9,211 | (41) | (0.4%) | |||||||||
| Pulp & Paper | 14,052 | 13,971 | 81 | 0.6% | |||||||||
| Waste | 3,921 | 3,885 | 36 | 0.9% | |||||||||
| Other | 4,510 | 5,480 | (970) | (17.7%) | |||||||||
| Total carloads | 136,199 | 138,551 | (2,352) | (1.7%) | |||||||||
| Carloads from New Railroads(1) | 501 | ||||||||||||
| Same-railroad carloads | 135,698 | 138,551 | (2,853) | (2.1%) | |||||||||
| (1) Total carloads from HOG, which contributed 410 carloads of lumber & forest products traffic, and 91 carloads from all other commodities. | |||||||||||||
The following highlights relate to North American same-railroad traffic, excluding traffic from HOG, which was acquired on May 31, 2017.
- Agricultural products traffic decreased 1,325 carloads, or 6.7%, primarily due to decreased soybean meal shipments in G&W’s Western Region and decreased shipments of dried distillers’ grains (DDGs) in G&W’s Midwest Region.
- Chemicals & plastics traffic decreased 1,306 carloads, or 8.2%, primarily due to decreased shipments of ethanol in G&W’s Midwest region and industrial chemicals in G&W’s Northeast region.
- All remaining traffic decreased by a net 222 carloads.
The table below sets forth carload information for G&W’s 51.1% owned Australian Operations for January 2018 and January 2017 by commodity group.
| Australian Operations(1): | January | January | Change | % | |||||||||
| Agricultural Products | 3,887 | 5,202 | (1,315) | (25.3%) | |||||||||
| Coal & Coke | 33,811 | 34,668 | (857) | (2.5%) | |||||||||
| Intermodal | 4,358 | 4,460 | (102) | (2.3%) | |||||||||
| Metallic Ores | 1,665 | 1,898 | (233) | (12.3%) | |||||||||
| Minerals & Stone | 5,543 | 5,737 | (194) | (3.4%) | |||||||||
| Petroleum Products | 12 | 12 | - | - | |||||||||
| Total carloads | 49,276 | 51,977 | (2,701) | (5.2%) | |||||||||
| (1) 51.1% owned by G&W. | |||||||||||||
- Agricultural products traffic decreased 1,315 carloads, or 25.3%, primarily due to a lower 2017-18 harvest in South Australia.
- Coal & coke traffic, which operates primarily under a take-or-pay contract structure, decreased 857 carloads, or 2.5%.
- All remaining traffic decreased by a net 529 carloads.
The table below sets forth U.K./European Operations carload information for January 2018 and January 2017 by commodity group.
| U.K./European Operations: | January | January | Change | % | |||||||||
| Agricultural Products | 286 | 562 | (276) | (49.1%) | |||||||||
| Coal & Coke | 2,186 | 4,091 | (1,905) | (46.6%) | |||||||||
| Intermodal | 75,436 | 75,049 | 387 | 0.5% | |||||||||
| Minerals & Stone | 13,748 | 8,038 | 5,710 | 71.0% | |||||||||
| Total carloads | 91,656 | 87,740 | 3,916 | 4.5% | |||||||||
- Minerals & stone traffic increased 5,710 carloads, or 71.0%, primarily due to increased shipments in Poland and the U.K.
- Coal & coke traffic decreased 1,905 carloads, or 46.6%, primarily due to decreased shipments in the U.K.
- All remaining traffic increased by a net 111 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 122 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 115 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: http://www.businesswire.com/news/home/20180214005466/en/
Contacts:
Thomas D. Savage, 1-203-202-8900
Senior
Vice President – Corporate Development & Treasurer
http://www.gwrr.com
