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17.04.2018 12:30:00
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Genesee & Wyoming Reports Traffic for March 2018
Genesee & Wyoming Inc. (G&W) (NYSE:GWR) today reported traffic volumes for March 2018 and the first quarter of 2018.
G&W’s traffic in March 2018 was 279,912 carloads, a decrease of 10,840 carloads, or 3.7%, compared with March 2017. G&W’s same-railroad traffic in March 2018 was 279,280 carloads, a decrease of 11,472 carloads, or 3.9%, compared with March 2017.
G&W’s traffic in the first quarter of 2018 was 811,313 carloads, a decrease of 9,935 carloads, or 1.2%, compared with the first quarter of 2017. G&W’s same-railroad traffic in the first quarter of 2018 was 809,743 carloads, a decrease of 11,505 carloads, or 1.4%, compared with the first quarter of 2017. First quarter carloads in North America included lower than expected coal traffic in G&W’s Midwest Region as well as the adverse impact of overall rail network congestion.
The table below sets forth summary total carloads by segment.
| Segment |
March |
March |
Change |
% |
|||||||||
| North American Operations | 142,470 | 137,977 | 4,493 | 3.3% | |||||||||
| Australian Operations(1) | 50,901 | 55,388 | (4,487) | (8.1%) | |||||||||
| U.K./European Operations | 86,541 | 97,387 | (10,846) | (11.1%) | |||||||||
| Total G&W Operations | 279,912 | 290,752 | (10,840) | (3.7%) | |||||||||
| Carloads from New Railroads | 632 | ||||||||||||
| Same-railroad carloads | 279,280 | 290,752 | (11,472) | (3.9%) | |||||||||
| (1) 51.1% owned by G&W. | |||||||||||||
Highlights by Segment
- North American Operations: Traffic in March 2018 was 142,470 carloads, an increase of 3.3% compared with March 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 increased 2.8%, primarily due to increased other commodity group traffic and pulp & paper traffic.
- Australian Operations: Traffic in March 2018 was 50,901 carloads, a decrease of 8.1% compared with March 2017, primarily due to decreased coal & coke and metallic ores 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 2018 was 86,541 carloads, a decrease of 11.1% compared with March 2017, primarily due to decreased intermodal traffic in the U.K. and Continental Europe and decreased coal & coke traffic in Poland and the U.K., partially offset by increased minerals & stone traffic in the U.K. and Poland.
The table below sets forth North American Operations carload information by commodity group.
| North American Operations: |
March |
March |
Change | % Change | |||||||||
| Agricultural Products | 18,896 | 19,653 | (757) | (3.9%) | |||||||||
| Autos & Auto Parts | 3,156 | 3,514 | (358) | (10.2%) | |||||||||
| Chemicals & Plastics | 15,319 | 16,166 | (847) | (5.2%) | |||||||||
| Coal & Coke | 19,572 | 19,602 | (30) | (0.2%) | |||||||||
| Food & Kindred Products | 5,313 | 5,383 | (70) | (1.3%) | |||||||||
| Intermodal | 1,181 | 628 | 553 | 88.1% | |||||||||
| Lumber & Forest Products | 12,672 | 12,219 | 453 | 3.7% | |||||||||
| Metallic Ores | 1,459 | 1,848 | (389) | (21.0%) | |||||||||
| Metals | 12,667 | 12,559 | 108 | 0.9% | |||||||||
| Minerals & Stone | 17,550 | 16,811 | 739 | 4.4% | |||||||||
| Petroleum Products | 8,199 | 8,079 | 120 | 1.5% | |||||||||
| Pulp & Paper | 14,442 | 12,757 | 1,685 | 13.2% | |||||||||
| Waste | 4,277 | 3,596 | 681 | 18.9% | |||||||||
| Other | 7,767 | 5,162 | 2,605 | 50.5% | |||||||||
| Total carloads | 142,470 | 137,977 | 4,493 | 3.3% | |||||||||
| Carloads from New Railroads(1) | 632 | ||||||||||||
| Same-railroad carloads | 141,838 | 137,977 | 3,861 | 2.8% | |||||||||
| (1) Total carloads from HOG, which contributed 337 carloads of lumber & forest products traffic and 295 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.
- Other commodity group traffic increased 2,470 carloads, or 47.8%, primarily due to increased Class I overhead traffic in most G&W regions.
- Pulp & paper traffic increased 1,685 carloads, or 13.2%, primarily due to increased shipments in all of G&W’s regions, with the largest variance in the Southern Region which experienced a customer plant outage in March 2017 that negatively impacted shipments.
- All remaining traffic decreased by a net 294 carloads.
The table below sets forth carload information for G&W’s 51.1% owned Australian Operations by commodity group.
| Australian Operations(1): |
March |
March |
Change |
% |
|||||||||
| Agricultural Products | 4,829 | 5,195 | (366) | (7.0%) | |||||||||
| Coal & Coke | 34,508 | 36,420 | (1,912) | (5.2%) | |||||||||
| Intermodal | 4,463 | 4,820 | (357) | (7.4%) | |||||||||
| Metallic Ores | 1,866 | 3,136 | (1,270) | (40.5%) | |||||||||
| Minerals & Stone | 5,218 | 5,787 | (569) | (9.8%) | |||||||||
| Petroleum Products | 17 | 30 | (13) | (43.3%) | |||||||||
| Total carloads | 50,901 | 55,388 | (4,487) | (8.1%) | |||||||||
| (1) 51.1% owned by G&W. | |||||||||||||
- Coal & coke traffic decreased 1,912 carloads, or 5.2%, in part due to weather-related shipping disruptions.
- Metallic ores traffic decreased 1,270 carloads, or 40.5%, primarily due to the planned, temporary shutdown of an iron ore mine in October 2017.
- All remaining traffic decreased by a net 1,305 carloads.
The table below sets forth U.K./European Operations carload information by commodity group.
| U.K./European Operations: |
March |
March |
Change |
% |
|||||||||
| Agricultural Products | 318 | 463 | (145) | (31.3%) | |||||||||
| Coal & Coke | 1,843 | 3,096 | (1,253) | (40.5%) | |||||||||
| Intermodal | 67,590 | 80,115 | (12,525) | (15.6%) | |||||||||
| Minerals & Stone | 16,790 | 13,713 | 3,077 | 22.4% | |||||||||
| Total carloads | 86,541 | 97,387 | (10,846) | (11.1%) | |||||||||
- Intermodal traffic decreased 12,525 carloads, or 15.6%, primarily due to decreased shipments in the U.K. as a result of weather related service cancellations and in Continental Europe due to the discontinuance of certain routes as part of the restructuring of ERS.
- Coal & coke traffic decreased 1,253 carloads, or 40.5%, primarily due to decreased shipments in Poland and the U.K.
- Minerals & stone traffic increased 3,077 carloads, or 22.4%, primarily due to increased shipments in the U.K. and Poland.
- All remaining traffic decreased by a net 145 carloads.
First Quarter of 2018 Traffic
The table below sets forth summary total carloads by segment.
| Segment | Q1 2018 | Q1 2017 | Change |
% |
|||||||||
| North American Operations | 406,013 | 403,016 | 2,997 | 0.7% | |||||||||
| Australian Operations(1) | 143,515 | 149,416 | (5,901) | (3.9%) | |||||||||
| U.K./European Operations | 261,785 | 268,816 | (7,031) | (2.6%) | |||||||||
| Total G&W Operations | 811,313 | 821,248 | (9,935) | (1.2%) | |||||||||
| Carloads from New Railroads | 1,570 | ||||||||||||
| Same-railroad carloads | 809,743 | 821,248 | (11,505) | (1.4%) | |||||||||
| (1) 51.1% owned by G&W. | |||||||||||||
The table below sets forth North American Operations carload information by commodity group.
| North American Operations: | Q1 2018 | Q1 2017 | Change | % Change | |||||||||
| Agricultural Products | 53,764 | 57,251 | (3,487) | (6.1%) | |||||||||
| Autos & Auto Parts | 8,716 | 8,793 | (77) | (0.9%) | |||||||||
| Chemicals & Plastics | 43,342 | 46,008 | (2,666) | (5.8%) | |||||||||
| Coal & Coke | 61,966 | 63,299 | (1,333) | (2.1%) | |||||||||
| Food & Kindred Products | 15,183 | 14,870 | 313 | 2.1% | |||||||||
| Intermodal | 3,084 | 1,801 | 1,283 | 71.2% | |||||||||
| Lumber & Forest Products | 36,250 | 33,555 | 2,695 | 8.0% | |||||||||
| Metallic Ores | 4,396 | 4,924 | (528) | (10.7%) | |||||||||
| Metals | 35,238 | 35,798 | (560) | (1.6%) | |||||||||
| Minerals & Stone | 47,696 | 47,045 | 651 | 1.4% | |||||||||
| Petroleum Products | 25,660 | 25,137 | 523 | 2.1% | |||||||||
| Pulp & Paper | 41,357 | 38,774 | 2,583 | 6.7% | |||||||||
| Waste | 11,981 | 10,744 | 1,237 | 11.5% | |||||||||
| Other | 17,380 | 15,017 | 2,363 | 15.7% | |||||||||
| Total carloads | 406,013 | 403,016 | 2,997 | 0.7% | |||||||||
| Carloads from New Railroads(1) | 1,570 | ||||||||||||
| Same-railroad carloads | 404,443 | 403,016 | 1,427 | 0.4% | |||||||||
| (1) Total carloads from HOG, which contributed 1,033 carloads of lumber & forest products traffic and 537 carloads from all other commodities. | |||||||||||||
The table below sets forth carload information for G&W’s 51.1% owned Australian Operations by commodity group.
| Australian Operations(1): | Q1 2018 | Q1 2017 | Change |
% |
|||||||||
| Agricultural Products | 13,112 | 15,266 | (2,154) | (14.1%) | |||||||||
| Coal & Coke | 96,856 | 97,684 | (828) | (0.8%) | |||||||||
| Intermodal | 12,754 | 13,578 | (824) | (6.1%) | |||||||||
| Metallic Ores | 4,871 | 6,906 | (2,035) | (29.5%) | |||||||||
| Minerals & Stone | 15,863 | 15,928 | (65) | (0.4%) | |||||||||
| Petroleum Products | 59 | 54 | 5 | 9.3% | |||||||||
| Total carloads | 143,515 | 149,416 | (5,901) | (3.9%) | |||||||||
| (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 2018 | Q1 2017 | Change |
% |
|||||||||
| Agricultural Products | 966 | 1,513 | (547) | (36.2%) | |||||||||
| Coal & Coke | 5,895 | 10,561 | (4,666) | (44.2%) | |||||||||
| Intermodal | 210,780 | 223,813 | (13,033) | (5.8%) | |||||||||
| Minerals & Stone | 44,144 | 32,929 | 11,215 | 34.1% | |||||||||
| Total carloads | 261,785 | 268,816 | (7,031) | (2.6%) | |||||||||
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: https://www.businesswire.com/news/home/20180417005458/en/
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