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13.12.2017 12:30:00
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Genesee & Wyoming Reports Traffic for November 2017
Genesee & Wyoming Inc. (G&W) (NYSE:GWR) today reported traffic volumes for November 2017.
G&W’s traffic in November 2017 was 271,912 carloads, an increase of 21,249 carloads, or 8.5%, compared with November 2016. G&W’s same-railroad traffic in November 2017 was 243,609 carloads, a decrease of 7,054 carloads, or 2.8%, compared with November 2016.
G&W’s traffic in the fourth quarter of 2017 through November was 547,229 carloads, an increase of 51,222 carloads, or 10.3%, compared with the fourth quarter of 2016 through November. G&W’s same-railroad traffic in the fourth quarter of 2017 through November was 486,116 carloads, a decrease of 9,891 carloads, or 2.0%, compared with the fourth quarter of 2016 through November.
The table below sets forth summary total carloads by segment for November 2017 and November 2016.
| Segment |
November |
November |
Change |
% |
|||||||||
| North American Operations | 130,630 | 136,882 | (6,252) | (4.6%) | |||||||||
| Australian Operations(1) | 42,767 | 15,036 | 27,731 | NM | |||||||||
| U.K./European Operations | 98,515 | 98,745 | (230) | (0.2%) | |||||||||
| Total G&W Operations | 271,912 | 250,663 | 21,249 | 8.5% | |||||||||
| Carloads from New Railroads | 28,303 | ||||||||||||
| Same-railroad carloads | 243,609 | 250,663 | (7,054) | (2.8%) | |||||||||
| (1) 51.1% owned by G&W as of December 1, 2016. | |||||||||||||
November 2017 Highlights by Segment
- North American Operations: Traffic in November 2017 was 130,630 carloads, a decrease of 4.6% compared with November 2016, including carloads from the Heart of Georgia Railroad, Inc. (HOG), which closed on May 31, 2017. On a same-railroad basis, North American traffic decreased 5.0%, primarily due to decreased coal & coke and agricultural products traffic.
- Australian Operations: Traffic in November 2017 was 42,767 carloads, including carloads from the Glencore Rail (GRail) acquisition, which closed on December 1, 2016. Coal & coke traffic, which operates primarily under a take-or-pay contract structure, was negatively affected in November 2017 by industrial action at Hunter Valley coal mines. On a same-railroad basis, Australian traffic was flat. Please note, simultaneous with the GRail acquisition, G&W issued a 48.9% equity stake in its Australian Operations to Macquarie Infrastructure and Real Assets. Carload information for the Australian Operations is presented on a 100% basis.
- U.K./European Operations: Traffic in November 2017 was 98,515 carloads, flat compared with November 2016, primarily due to decreased coal & coke traffic in the U.K. and intermodal traffic in Continental Europe, mostly offset by increased intermodal and minerals & stone traffic in the U.K.
The table below sets forth North American Operations carload information for November 2017 and November 2016 by commodity group.
| North American Operations: |
November |
November |
Change | % Change | |||||||||
| Agricultural Products | 16,930 | 19,171 | (2,241) | (11.7%) | |||||||||
| Autos & Auto Parts | 3,103 | 2,735 | 368 | 13.5% | |||||||||
| Chemicals & Plastics | 14,672 | 14,882 | (210) | (1.4%) | |||||||||
| Coal & Coke | 17,240 | 21,655 | (4,415) | (20.4%) | |||||||||
| Food & Kindred Products | 5,205 | 5,167 | 38 | 0.7% | |||||||||
| Intermodal | 819 | 558 | 261 | 46.8% | |||||||||
| Lumber & Forest Products | 11,993 | 11,161 | 832 | 7.5% | |||||||||
| Metallic Ores | 1,280 | 1,632 | (352) | (21.6%) | |||||||||
| Metals | 10,529 | 11,375 | (846) | (7.4%) | |||||||||
| Minerals & Stone | 17,730 | 17,556 | 174 | 1.0% | |||||||||
| Petroleum Products | 8,545 | 9,382 | (837) | (8.9%) | |||||||||
| Pulp & Paper | 13,109 | 13,070 | 39 | 0.3% | |||||||||
| Waste | 4,238 | 4,058 | 180 | 4.4% | |||||||||
| Other | 5,237 | 4,480 | 757 | 16.9% | |||||||||
| Total carloads | 130,630 | 136,882 | (6,252) | (4.6%) | |||||||||
| Carloads from New Railroads(1) | 541 | ||||||||||||
| Same-railroad carloads | 130,089 | 136,882 | (6,793) | (5.0%) | |||||||||
| (1) Total carloads from HOG, which contributed 384 carloads of lumber & forest products traffic, and 157 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.
- Coal & coke traffic decreased 4,415 carloads, or 20.4%, primarily due to decreased shipments of utility coal in G&W’s Midwest Region.
- Agricultural products traffic decreased 2,291 carloads, or 12.0%, primarily due to decreased grain shipments in G&W’s Central and Midwest regions.
- All remaining traffic decreased by a net 87 carloads.
The table below sets forth carload information for G&W’s 51.1% owned Australian Operations for November 2017 and November 2016 by commodity group.
| Australian Operations(1): |
November |
November |
Change |
% |
|||||||||
| Agricultural Products | 2,647 | 2,864 | (217) | (7.6%) | |||||||||
| Coal & Coke | 27,762 | - | 27,762 | NM | |||||||||
| Intermodal | 4,785 | 5,048 | (263) | (5.2%) | |||||||||
| Metallic Ores | 1,870 | 1,587 | 283 | 17.8% | |||||||||
| Minerals & Stone | 5,683 | 5,505 | 178 | 3.2% | |||||||||
| Petroleum Products | 20 | 32 | (12) | (37.5%) | |||||||||
| Total carloads | 42,767 | 15,036 | 27,731 | NM | |||||||||
| Carloads from New Railroads(2) | 27,762 | ||||||||||||
| Same-railroad carloads | 15,005 | 15,036 | (31) | (0.2%) | |||||||||
| (1) 51.1% owned by G&W as of December 1, 2016. | |||||||||||||
| (2) Total carloads from GRail, which was acquired on December 1, 2016 and contributed 27,762 carloads of coal & coke traffic. | |||||||||||||
Australian coal & coke traffic, which operates primarily under a take-or-pay contract structure, was negatively affected in November 2017 by industrial action at Hunter Valley coal mines.
The table below sets forth U.K./European Operations carload information for November 2017 and November 2016 by commodity group.
| U.K./European Operations: |
November |
November |
Change |
% |
|||||||||
| Agricultural Products | 516 | 238 | 278 | NM | |||||||||
| Coal & Coke | 1,490 | 4,643 | (3,153) | (67.9%) | |||||||||
| Intermodal | 78,930 | 78,520 | 410 | 0.5% | |||||||||
| Minerals & Stone | 17,579 | 15,344 | 2,235 | 14.6% | |||||||||
| Total carloads | 98,515 | 98,745 | (230) | (0.2%) | |||||||||
- Coal & coke traffic decreased 3,153 carloads, or 67.9%, primarily due to decreased shipments in the U.K.
- Intermodal traffic increased 410 carloads, or 0.5%, primarily due to increased shipments in the U.K., partially offset by decreased shipments in Continental Europe due to the discontinuance of certain routes as part of the restructuring of ERS.
- Minerals & stone traffic increased 2,235 carloads, or 14.6%, primarily due to increased shipments in the U.K.
- All remaining traffic increased by a net 278 carloads.
Fourth Quarter of 2017 Through November Traffic
The table below sets forth summary total carloads by segment for the fourth quarter of 2017 through November and the fourth quarter of 2016 through November.
| Segment |
QTD Nov |
QTD Nov |
Change |
% |
|||||||||
| North American Operations | 267,518 | 271,821 | (4,303) | (1.6%) | |||||||||
| Australian Operations(1) | 85,534 | 29,189 | 56,345 | NM | |||||||||
| U.K./European Operations | 194,177 | 194,997 | (820) | (0.4%) | |||||||||
| Total G&W Operations | 547,229 | 496,007 | 51,222 | 10.3% | |||||||||
| Carloads from New Railroads | 61,113 | ||||||||||||
| Same-railroad carloads | 486,116 | 496,007 | (9,891) | (2.0%) | |||||||||
| (1) 51.1% owned by G&W as of December 1, 2016. | |||||||||||||
The table below sets forth North American Operations carload information for the fourth quarter of 2017 through November and the fourth quarter of 2016 through November by commodity group.
| North American Operations: |
QTD Nov |
QTD Nov |
Change | % Change | |||||||||
| Agricultural Products | 34,526 | 39,261 | (4,735) | (12.1%) | |||||||||
| Autos & Auto Parts | 6,754 | 5,419 | 1,335 | 24.6% | |||||||||
| Chemicals & Plastics | 29,401 | 29,510 | (109) | (0.4%) | |||||||||
| Coal & Coke | 35,179 | 42,392 | (7,213) | (17.0%) | |||||||||
| Food & Kindred Products | 10,345 | 10,828 | (483) | (4.5%) | |||||||||
| Intermodal | 1,710 | 594 | 1,116 | NM | |||||||||
| Lumber & Forest Products | 24,113 | 22,629 | 1,484 | 6.6% | |||||||||
| Metallic Ores | 2,835 | 3,223 | (388) | (12.0%) | |||||||||
| Metals | 21,825 | 22,045 | (220) | (1.0%) | |||||||||
| Minerals & Stone | 38,623 | 34,976 | 3,647 | 10.4% | |||||||||
| Petroleum Products | 15,900 | 17,969 | (2,069) | (11.5%) | |||||||||
| Pulp & Paper | 26,957 | 25,713 | 1,244 | 4.8% | |||||||||
| Waste | 8,762 | 8,090 | 672 | 8.3% | |||||||||
| Other | 10,588 | 9,172 | 1,416 | 15.4% | |||||||||
| Total carloads | 267,518 | 271,821 | (4,303) | (1.6%) | |||||||||
| Carloads from New Railroads(1) | 4,747 | ||||||||||||
| Same-railroad carloads | 262,771 | 271,821 | (9,050) | (3.3%) | |||||||||
| (1) Total carloads from rail operations commenced or acquired by G&W in the last 12 months include the P&W (October 2017) and HOG. These railroads contributed 307 carloads of autos & auto parts traffic, 505 carloads of chemicals & plastics traffic, 891 carloads of intermodal traffic, 798 carloads of lumber & forest products traffic, 1,315 carloads of minerals & stone traffic and 931 carloads from all other commodities. | |||||||||||||
The table below sets forth carload information for G&W’s 51.1% owned Australian Operations for the fourth quarter of 2017 through November and the fourth quarter of 2016 through November by commodity group.
| Australian Operations(1): |
QTD Nov |
QTD Nov |
Change |
% |
|||||||||
| Agricultural Products | 4,871 | 5,036 | (165) | (3.3%) | |||||||||
| Coal & Coke | 56,366 | - | 56,366 | NM | |||||||||
| Intermodal | 9,619 | 10,128 | (509) | (5.0%) | |||||||||
| Metallic Ores | 3,592 | 2,829 | 763 | 27.0% | |||||||||
| Minerals & Stone | 11,037 | 11,149 | (112) | (1.0%) | |||||||||
| Petroleum Products | 49 | 47 | 2 | 4.3% | |||||||||
| Total carloads | 85,534 | 29,189 | 56,345 | NM | |||||||||
| Carloads from New Railroads(2) | 56,366 | ||||||||||||
| Same-railroad carloads | 29,168 | 29,189 | (21) | (0.1%) | |||||||||
| (1) 51.1% owned by G&W as of December 1, 2016. | |||||||||||||
| (2) Total carloads from GRail, which was acquired on December 1, 2016 and contributed 56,366 carloads of coal & coke traffic. | |||||||||||||
The table below sets forth U.K./European Operations carload information for the fourth quarter of 2017 through November and the fourth quarter of 2016 through November by commodity group.
| U.K./European Operations: |
QTD Nov |
QTD Nov |
Change |
% |
|||||||||
| Agricultural Products | 969 | 557 | 412 | 74.0% | |||||||||
| Coal & Coke | 2,627 | 8,781 | (6,154) | (70.1%) | |||||||||
| Intermodal | 157,469 | 155,711 | 1,758 | 1.1% | |||||||||
| Lumber & Forest Products | - | 158 | (158) | NM | |||||||||
| Metallic Ores | - | 108 | (108) | NM | |||||||||
| Minerals & Stone | 33,112 | 29,682 | 3,430 | 11.6% | |||||||||
| Total carloads | 194,177 | 194,997 | (820) | (0.4%) | |||||||||
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/20171213005299/en/
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