13.11.2017 12:30:00
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Genesee & Wyoming Reports Traffic for October 2017
Genesee & Wyoming Inc. (G&W) (NYSE:GWR) today reported traffic volumes for October 2017.
G&W’s traffic in October 2017 was 275,317 carloads, an increase of 29,973 carloads, or 12.2%, compared with October 2016. G&W’s same-railroad traffic in October 2017 was 242,507 carloads, a decrease of 2,837 carloads, or 1.2%, compared with October 2016.
The table below sets forth summary total carloads by segment for October 2017 and October 2016.
Segment |
October |
October |
Change |
% |
|||||||||
North American Operations | 136,888 | 134,939 | 1,949 | 1.4% | |||||||||
Australian Operations(1) | 42,767 | 14,153 | 28,614 | NM | |||||||||
U.K./European Operations | 95,662 | 96,252 | (590) | (0.6%) | |||||||||
Total G&W Operations | 275,317 | 245,344 | 29,973 | 12.2% | |||||||||
Carloads from New Railroads | 32,810 | ||||||||||||
Same-railroad carloads | 242,507 | 245,344 | (2,837) | (1.2%) | |||||||||
(1) 51.1% owned by G&W as of December 1, 2016. | |||||||||||||
October 2017 Highlights by Segment
- North American Operations: Traffic in October 2017 was 136,888 carloads, an increase of 1.4% compared with October 2016, including carloads from the Providence and Worcester Railroad Company (P&W) acquisition, which closed on November 1, 2016, and the Heart of Georgia Railroad, Inc. (HOG), which closed on May 31, 2017. On a same-railroad basis, North American traffic decreased 1.7%, primarily due to decreased coal & coke and agricultural products traffic, partially offset by increased minerals & stone traffic.
- Australian Operations: Traffic in October 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 October 2017 by industrial action at Hunter Valley coal mines. On a same-railroad basis, Australian traffic increased 0.1%, primarily due to increased metallic ores traffic. 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 October 2017 was 95,662 carloads, a decrease of 0.6% compared with October 2016, primarily due to decreased intermodal traffic in Continental Europe and coal & coke traffic in the U.K., partially offset by increased intermodal and minerals & stone traffic in the U.K.
The table below sets forth North American Operations carload information for October 2017 and October 2016 by commodity group.
North American Operations: |
October |
October |
Change | % Change | |||||||||
Agricultural Products | 17,596 | 20,090 | (2,494) | (12.4%) | |||||||||
Autos & Auto Parts | 3,651 | 2,684 | 967 | 36.0% | |||||||||
Chemicals & Plastics | 14,729 | 14,628 | 101 | 0.7% | |||||||||
Coal & Coke | 17,939 | 20,737 | (2,798) | (13.5%) | |||||||||
Food & Kindred Products | 5,140 | 5,661 | (521) | (9.2%) | |||||||||
Intermodal | 891 | 36 | 855 | NM | |||||||||
Lumber & Forest Products | 12,120 | 11,468 | 652 | 5.7% | |||||||||
Metallic Ores | 1,555 | 1,591 | (36) | (2.3%) | |||||||||
Metals | 11,296 | 10,670 | 626 | 5.9% | |||||||||
Minerals & Stone | 20,893 | 17,420 | 3,473 | 19.9% | |||||||||
Petroleum Products | 7,355 | 8,587 | (1,232) | (14.3%) | |||||||||
Pulp & Paper | 13,848 | 12,643 | 1,205 | 9.5% | |||||||||
Waste | 4,524 | 4,032 | 492 | 12.2% | |||||||||
Other | 5,351 | 4,692 | 659 | 14.0% | |||||||||
Total carloads | 136,888 | 134,939 | 1,949 | 1.4% | |||||||||
Carloads from New Railroads(1) | 4,206 | ||||||||||||
Same-railroad carloads | 132,682 | 134,939 | (2,257) | (1.7%) | |||||||||
(1) Total carloads from rail operations commenced or acquired by G&W in the last 12 months include P&W and HOG. These railroads contributed 307 carloads of autos & auto parts traffic, 461 carloads of chemicals & plastics traffic, 891 carloads of intermodal traffic, 414 carloads of lumber & forest products traffic, 1,315 carloads of minerals & stone traffic, and 818 carloads from all other commodities. |
The following highlights relate to North American same-railroad traffic, excluding traffic from P&W, which was acquired on November 1, 2016, and HOG, which was acquired on May 31, 2017.
- Coal & coke traffic decreased 2,798 carloads, or 13.5%, primarily due to decreased shipments of utility coal in G&W’s Midwest Region.
- Agricultural products traffic decreased 2,655 carloads, or 13.2%, primarily due to decreased grain shipments in G&W’s Central and Midwest regions.
- Minerals & stone traffic increased 2,158 carloads, or 12.4%, primarily due to increased shipments of aggregates in G&W’s Central and Western regions and increased shipments of frac sand in G&W’s Northeast Region.
- All remaining traffic increased by a net 1,038 carloads.
The table below sets forth carload information for G&W’s 51.1% owned Australian Operations for October 2017 and October 2016 by commodity group.
Australian Operations(1): |
October |
October |
Change |
% |
|||||||||
Agricultural Products | 2,224 | 2,172 | 52 | 2.4% | |||||||||
Coal & Coke | 28,604 | - | 28,604 | NM | |||||||||
Intermodal | 4,834 | 5,080 | (246) | (4.8%) | |||||||||
Metallic Ores | 1,722 | 1,242 | 480 | 38.6% | |||||||||
Minerals & Stone | 5,354 | 5,644 | (290) | (5.1%) | |||||||||
Petroleum Products | 29 | 15 | 14 | 93.3% | |||||||||
Total carloads | 42,767 | 14,153 | 28,614 | NM | |||||||||
Carloads from New Railroads(2) | 28,604 | ||||||||||||
Same-railroad carloads | 14,163 | 14,153 | 10 | 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 28,604 carloads of coal & coke traffic. |
Australian coal & coke traffic, which operates primarily under a take-or-pay contract structure, was negatively affected in October 2017 by industrial action at Hunter Valley coal mines, partially offset by new spot coal volume.
The following highlights relate to Australian same-railroad traffic, excluding traffic from GRail, which was acquired on December 1, 2016.
- Metallic ores traffic increased 480 carloads, or 38.6%, primarily due to the re-opening of a manganese mine in March 2017.
- All remaining traffic decreased by a net 470 carloads.
The table below sets forth U.K./European Operations carload information for October 2017 and October 2016 by commodity group.
U.K./European Operations: |
October |
October |
Change |
% |
|||||||||
Agricultural Products | 453 | 319 | 134 | 42.0% | |||||||||
Coal & Coke | 1,137 | 4,138 | (3,001) | (72.5%) | |||||||||
Intermodal | 78,539 | 77,191 | 1,348 | 1.7% | |||||||||
Lumber & Forest Products | - | 158 | (158) | NM | |||||||||
Metallic Ores | - | 108 | (108) | NM | |||||||||
Minerals & Stone | 15,533 | 14,338 | 1,195 | 8.3% | |||||||||
Total carloads | 95,662 | 96,252 | (590) | (0.6%) | |||||||||
- Coal & coke traffic decreased 3,001 carloads, or 72.5%, primarily due to decreased shipments in the U.K.
- Intermodal traffic increased 1,348 carloads, or 1.7%, primarily due to increased shipments in the U.K., partially offset by decreased shipments in Continental Europe due to the discontinuation of certain routes as part of the restructuring of ERS.
- Minerals & stone traffic increased 1,195 carloads, or 8.3%, primarily due to increased shipments in the U.K.
- All remaining traffic decreased by a net 132 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/20171113005277/en/
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