[December 14, 2018] |
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Genesee & Wyoming Reports Traffic for November 2018
Genesee & Wyoming Inc. (G&W) (NYSE:GWR) today reported traffic volumes
for November 2018.
G&W's total traffic in November 2018 was 259,900 carloads, a decrease of
12,012 carloads, or 4.4%, compared with November 2017. G&W's same
railroad traffic in November 2018 decreased 576 carloads, or 0.2%,
compared with G&W's traffic in November 2017, 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 (SOR and
GEXR) in the fourth quarter of 2018.
G&W's traffic in the fourth quarter of 2018 through November was 546,080
carloads, a decrease of 1,149 carloads, or 0.2%, compared with the
fourth quarter of 2017 through November. G&W's same railroad traffic in
the fourth quarter of 2018 through November increased 18,582 carloads,
or 3.5%, compared with the fourth quarter of 2017 through November.
The table below sets forth summary total carloads by segment.
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Segment
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November 2018
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November 2017
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Change
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% Change
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North American Operations
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133,604
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130,630
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2,974
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2.3%
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Australian Operations(1)
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39,813
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42,767
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(2,954)
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(6.9%)
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U.K./European Operations
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86,483
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98,515
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(12,032)
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(12.2%)
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Total G&W Operations
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259,900
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271,912
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(12,012)
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(4.4%)
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Carloads From Divested Operations(2)
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-
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11,436
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(11,436)
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NM
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Same Railroad Carloads
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259,900
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260,476
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(576)
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(0.2%)
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(1) 51.1% owned by G&W.
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(2) Includes 10,844 carloads from ERS, which was sold in June 2018,
and 592 carloads from short line lease expirations in the fourth
quarter of 2018.
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Highlights by Segment
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North American Operations: Traffic in November 2018 was 133,604
carloads, an increase of 2.3% compared with November 2017. Excluding
traffic from short line lease expirations in Canada, traffic in
November 2018 increased 2.7% compared with same railroad traffic in
November 2017, primarily due to increased petroleum products and
metals traffic, partially offset by decreased minerals & stone traffic.
-
Australian Operations: Traffic in November 2018 was 39,813 carloads, a
decrease of 6.9% compared with November 2017, primarily due to
decreased coal & coke and agricultural products traffic. Carload
information for G&W's 51.1% owned Australian Operations is presented
on a 100% basis.
-
U.K./European Operations: Traffic in November 2018 was 86,483
carloads, a decrease of 12.2% compared with November 2017. Excluding
traffic from ERS, traffic in November 2018 decreased 1.4% compared
with same railroad traffic in November 2017, primarily due to
decreased intermodal traffic in the U.K.
The table below sets forth North American Operations carload information
by commodity group.
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North American Operations:
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November 2018
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November 2017
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Change
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% Change
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Agricultural Products
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16,244
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16,930
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(686)
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(4.1%)
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Autos & Auto Parts
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2,927
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3,103
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(176)
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(5.7%)
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Chemicals & Plastics
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14,174
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14,672
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(498)
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(3.4%)
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Coal & Coke
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17,780
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17,240
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540
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3.1%
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Food & Kindred Products
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4,856
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5,205
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(349)
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(6.7%)
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Intermodal
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1,372
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819
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553
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67.5%
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Lumber & Forest Products
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11,207
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11,993
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(786)
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(6.6%)
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Metallic Ores
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1,428
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1,280
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148
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11.6%
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Metals
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12,251
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10,529
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1,722
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16.4%
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Minerals & Stone
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16,159
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17,730
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(1,571)
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(8.9%)
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Petroleum Products
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10,280
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8,545
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1,735
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20.3%
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Pulp & Paper
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14,235
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13,109
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1,126
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8.6%
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Waste
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4,691
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4,238
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453
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10.7%
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Other
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6,000
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5,237
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763
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14.6%
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Total Carloads
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133,604
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130,630
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2,974
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2.3%
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Carloads From Divested Operations(1)
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-
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592
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(592)
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NM
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Same Railroad Carloads
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133,604
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130,038
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3,566
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2.7%
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(1) Total carloads from short line leases in Canada (GEXR and SOR)
that expired in the fourth quarter of 2018.
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The following highlights relate to North American same railroad traffic:
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Petroleum products traffic increased 1,770 carloads, or 20.8%,
primarily due to increased shipments in G&W's Canada and Northeast
regions.
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Metals traffic increased 1,753 carloads, or 16.7%, primarily due to
increased scrap steel and finished steel shipments in G&W's Northeast
and Midwest regions.
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Minerals & stone traffic decreased 1,384 carloads, or 7.9%, primarily
due to decreased aggregates shipments in G&W's Central Region.
-
All remaining traffic increased by a net 1,427 carloads.
The table below sets forth carload information for G&W's 51.1% owned
Australian Operations by commodity group.
Australian Operations(1):
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November 2018
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November 2017
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Change
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% Change
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Agricultural Products
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1,108
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2,647
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(1,539)
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(58.1%)
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Coal & Coke
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26,024
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27,762
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(1,738)
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(6.3%)
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Intermodal
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4,733
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4,785
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(52)
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(1.1%)
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Metallic Ores
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2,275
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1,870
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405
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21.7%
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Minerals & Stone
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5,660
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5,683
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(23)
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(0.4%)
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Petroleum Products
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13
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20
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(7)
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(35.0%)
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Total Carloads
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39,813
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42,767
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(2,954)
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(6.9%)
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-
Coal & coke traffic decreased 1,738, or 6.3%, primarily due to
decreased shipments in the Hunter Valley.
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Agricultural products traffic decreased 1,539 carloads, or 58.1%,
primarily due to a delayed start to the 2018-2019 South Australia
grain harvest.
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All remaining traffic increased by a net 323 carloads.
The table below sets forth U.K./European Operations carload information
by commodity group.
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U.K./European Operations:
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November 2018
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November 2017
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Change
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% Change
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Agricultural Products
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390
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516
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(126)
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(24.4%)
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Coal & Coke
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1,484
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1,490
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(6)
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(0.4%)
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Intermodal
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66,971
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78,930
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(11,959)
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(15.2%)
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Minerals & Stone
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16,811
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17,579
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(768)
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(4.4%)
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Petroleum Products
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827
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-
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827
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NM
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Total Carloads
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86,483
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98,515
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(12,032)
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(12.2%)
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Carloads From Divested Operations(1)
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-
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10,844
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(10,844)
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NM
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Same Railroad Carloads
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86,483
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87,671
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(1,188)
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(1.4%)
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(1) Total carloads from ERS, which was sold in June 2018.
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The following highlights relate to U.K./European same railroad traffic.
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Intermodal traffic in the U.K. decreased 1,115 carloads, or 1.6%.
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All remaining traffic decreased by a net 73 carloads.
Fourth Quarter of 2018 Through November
The table below sets forth summary total carloads by segment.
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Segment
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QTD November 2018
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QTD November 2017
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Change
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% Change
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North American Operations
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281,591
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267,518
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14,073
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5.3%
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Australian Operations(1)
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89,035
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85,534
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3,501
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4.1%
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U.K./European Operations
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175,454
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194,177
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(18,723)
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(9.6%)
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Total G&W Operations
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546,080
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547,229
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(1,149)
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(0.2%)
|
Carloads From Divested Operations(2)
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-
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19,731
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(19,731)
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NM
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Same Railroad Carloads
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546,080
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527,498
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18,582
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3.5%
|
(1) 51.1% owned by G&W.
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(2) Includes 19,014 carloads from ERS, which was sold in June 2018,
and 717 carloads from short line lease expirations in the fourth
quarter of 2018.
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The table below sets forth North American Operations carload information
by commodity group.
North American Operations:
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QTD November 2018
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QTD November 2017
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Change
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% Change
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Agricultural Products
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|
|
|
35,234
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|
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34,526
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|
708
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2.1%
|
Autos & Auto Parts
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|
5,073
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6,754
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(1,681)
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(24.9%)
|
Chemicals & Plastics
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29,463
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|
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29,401
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|
62
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|
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0.2%
|
Coal & Coke
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|
40,284
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|
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35,179
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|
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5,105
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14.5%
|
Food & Kindred Products
|
|
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|
10,466
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|
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10,345
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|
|
121
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1.2%
|
Intermodal
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2,949
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1,710
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|
1,239
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72.5%
|
Lumber & Forest Products
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|
|
23,278
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|
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24,113
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(835)
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(3.5%)
|
Metallic Ores
|
|
|
|
2,936
|
|
|
2,835
|
|
|
101
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|
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3.6%
|
Metals
|
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|
|
25,672
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|
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21,825
|
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3,847
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17.6%
|
Minerals & Stone
|
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36,136
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38,623
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(2,487)
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(6.4%)
|
Petroleum Products
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|
19,337
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|
|
15,900
|
|
|
3,437
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|
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21.6%
|
Pulp & Paper
|
|
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|
28,192
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|
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26,957
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|
1,235
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|
|
4.6%
|
Waste
|
|
|
|
10,426
|
|
|
8,762
|
|
|
1,664
|
|
|
19.0%
|
Other
|
|
|
|
12,145
|
|
|
10,588
|
|
|
1,557
|
|
|
14.7%
|
Total Carloads
|
|
|
|
281,591
|
|
|
267,518
|
|
|
14,073
|
|
|
5.3%
|
Carloads From Divested Operations(1)
|
|
|
|
-
|
|
|
717
|
|
|
(717)
|
|
|
NM
|
Same Railroad Carloads
|
|
|
|
281,591
|
|
|
266,801
|
|
|
14,790
|
|
|
5.5%
|
(1) Total carloads from short line leases in Canada (GEXR and SOR)
that expired in the fourth quarter of 2018.
|
|
The table below sets forth carload information for G&W's 51.1% owned
Australian Operations by commodity group.
|
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|
|
|
|
|
|
|
|
|
|
|
|
Australian Operations(1):
|
|
|
|
QTD November 2018
|
|
|
QTD November 2017
|
|
|
Change
|
|
|
% Change
|
Agricultural Products
|
|
|
|
1,465
|
|
|
4,871
|
|
|
(3,406)
|
|
|
(69.9%)
|
Coal & Coke
|
|
|
|
61,704
|
|
|
56,366
|
|
|
5,338
|
|
|
9.5%
|
Intermodal
|
|
|
|
9,700
|
|
|
9,619
|
|
|
81
|
|
|
0.8%
|
Metallic Ores
|
|
|
|
4,746
|
|
|
3,592
|
|
|
1,154
|
|
|
32.1%
|
Minerals & Stone
|
|
|
|
11,382
|
|
|
11,037
|
|
|
345
|
|
|
3.1%
|
Petroleum Products
|
|
|
|
38
|
|
|
49
|
|
|
(11)
|
|
|
(22.4%)
|
Total Carloads
|
|
|
|
89,035
|
|
|
85,534
|
|
|
3,501
|
|
|
4.1%
|
The table below sets forth U.K./European Operations carload information
by commodity group.
U.K./European Operations:
|
|
|
|
QTD November 2018
|
|
|
QTD November 2017
|
|
|
Change
|
|
|
% Change
|
Agricultural Products
|
|
|
|
856
|
|
|
969
|
|
|
(113)
|
|
|
(11.7%)
|
Coal & Coke
|
|
|
|
3,258
|
|
|
2,627
|
|
|
631
|
|
|
24.0%
|
Intermodal
|
|
|
|
135,205
|
|
|
157,469
|
|
|
(22,264)
|
|
|
(14.1%)
|
Minerals & Stone
|
|
|
|
34,545
|
|
|
33,112
|
|
|
1,433
|
|
|
4.3%
|
Petroleum Products
|
|
|
|
1,590
|
|
|
-
|
|
|
1,590
|
|
|
NM
|
Total Carloads
|
|
|
|
175,454
|
|
|
194,177
|
|
|
(18,723)
|
|
|
(9.6%)
|
Carloads From Divested Operations(1)
|
|
|
|
-
|
|
|
19,014
|
|
|
(19,014)
|
|
|
NM
|
Same Railroad Carloads
|
|
|
|
175,454
|
|
|
175,163
|
|
|
291
|
|
|
0.2%
|
(1) Total carloads from ERS, which was sold in June 2018.
|
|
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 121 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/20181214005030/en/
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