Genesee & Wyoming Reports Traffic for February 2019
Business Wire 14-Mar-2019 6:30 AM
Genesee & Wyoming Inc. (G&W) (NYSE:GWR) today reported traffic volumes
for February 2019.
G&W's total traffic in February 2019 was 237,072 carloads, a decrease of
17,198 carloads, or 6.8%, compared with February 2018. G&W's same
railroad traffic in February 2019 decreased 4,429 carloads, or 1.8%,
compared with G&W's traffic in February 2018, 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
(Goderich-Exeter Railway (GEXR) and Southern Ontario Railway (SOR)) in
the fourth quarter of 2018.
G&W's traffic in the first quarter of 2019 through February was 504,866
carloads, a decrease of 26,535 carloads, or 5.0%, compared with the
first quarter of 2018 through February. G&W's same railroad traffic in
the first quarter of 2019 through February decreased 1,250 carloads, or
0.2%, compared with the first quarter of 2018 through February,
excluding carloads from ERS, which was sold in June 2018, and short line
lease expirations in Canada (GEXR and SOR) in the fourth quarter of 2018.
The table below sets forth summary total carloads by segment.
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Segment
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February2019
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February2018
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TotalChange
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Total %Change
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SameRailroad %Change(1)
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North American Operations
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121,261
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127,344
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(6,083)
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(4.8%)
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(3.1%)
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Australian Operations(2)
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43,043
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43,338
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(295)
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(0.7%)
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(0.7%)
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U.K./European Operations
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72,768
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83,588
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(10,820)
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(12.9%)
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(0.4%)
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Total G&W Operations
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237,072
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254,270
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(17,198)
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(6.8%)
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(1.8%)
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(1) Excludes 2,213 carloads in February 2018 from short line leases
in Canada (GEXR and SOR), which expired in the fourth quarter of
2018 and 10,556 carloads in February 2018 from ERS, which was sold
in June 2018.
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(2) 51.1% owned by G&W.
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Highlights by Segment
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North American Operations: Traffic in February 2019 was 121,261
carloads, a decrease of 4.8% compared with February 2018. Same
railroad traffic in February 2019 decreased 3.1% compared with
February 2018, excluding short line lease expirations in Canada,
primarily due to decreased coal & coke and lumber & forest products
traffic. North American shipments were adversely impacted by severe
winter weather events that affected G&W's railroads, customers and
connecting Class I carriers in G&W's Canada, Midwest and Western
Regions.
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Australian Operations: Traffic in February 2019 was 43,043 carloads, a
decrease of 0.7% compared with February 2018, primarily due to
decreased agricultural products traffic, partially offset by increased
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 February 2019 was 72,768
carloads, a decrease of 12.9% compared with February 2018. Same
railroad traffic in February 2019 decreased 0.4% compared with
February 2018, excluding traffic from ERS, primarily due to decreased
minerals & stone traffic in Poland, partially offset by increased
petroleum products traffic in the U.K. and coal & coke traffic in
Poland.
The table below sets forth North American Operations carload information
by commodity group.
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North American Operations:
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February2019
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February2018
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TotalChange
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Total %Change
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SameRailroad %Change(1)
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Agricultural Products
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16,304
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16,264
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40
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0.2%
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3.1%
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Autos & Auto Parts
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2,618
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2,469
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149
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6.0%
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10.7%
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Chemicals & Plastics
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12,549
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13,441
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(892)
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(6.6%)
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(2.7%)
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Coal & Coke
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17,504
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20,834
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(3,330)
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(16.0%)
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(16.0%)
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Food & Kindred Products
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4,364
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4,563
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(199)
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(4.4%)
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(2.1%)
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Intermodal
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917
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853
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64
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7.5%
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7.5%
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Lumber & Forest Products
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9,853
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11,480
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(1,627)
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(14.2%)
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(13.8%)
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Metallic Ores
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1,017
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1,502
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(485)
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(32.3%)
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(32.2%)
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Metals
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11,444
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10,709
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735
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6.9%
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9.9%
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Minerals & Stone
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15,144
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15,189
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(45)
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(0.3%)
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1.4%
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Petroleum Products
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7,873
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8,291
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(418)
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(5.0%)
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(1.7%)
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Pulp & Paper
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12,964
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12,863
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101
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0.8%
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1.0%
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Waste
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3,988
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3,783
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205
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5.4%
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6.2%
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Other
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4,722
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5,103
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(381)
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(7.5%)
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(6.4%)
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Total Carloads
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121,261
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127,344
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(6,083)
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(4.8%)
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(3.1%)
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(1) Excludes 2,213 carloads in February 2018 from short line leases
in Canada (GEXR and SOR), which 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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Coal & coke traffic decreased 3,330 carloads, or 16.0%, primarily due
to decreased shipments in G&W's Central and Midwest regions due to the
impact of winter weather events on our connecting Class I railroads.
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Lumber & forest products traffic decreased 1,571 carloads, or 13.8%,
primarily due to weather-related shipment delays.
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All remaining traffic increased by a net 1,031 carloads.
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):
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February2019
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February2018
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TotalChange
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Total %Change
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Agricultural Products
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1,058
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4,396
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(3,338)
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(75.9%)
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Coal & Coke
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31,871
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28,537
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3,334
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11.7%
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Intermodal
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3,584
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3,933
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(349)
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(8.9%)
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Metallic Ores
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1,558
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1,340
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218
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16.3%
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Minerals & Stone
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4,957
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5,102
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(145)
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(2.8%)
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Petroleum Products
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15
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30
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(15)
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(50.0%)
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Total Carloads
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43,043
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43,338
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(295)
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(0.7%)
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Agricultural products traffic decreased 3,338 carloads, or 75.9%,
primarily due to a weaker 2018-2019 South Australia grain harvest.
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Coal & coke traffic increased 3,334 carloads, or 11.7%, primarily due
to increased shipments in the Hunter Valley.
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All remaining traffic decreased by a net 291 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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February2019
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February2018
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TotalChange
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Total %Change
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SameRailroad %Change(1)
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Agricultural Products
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148
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362
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(214)
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(59.1%)
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(59.1%)
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Coal & Coke
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2,615
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1,866
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749
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40.1%
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40.1%
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Intermodal
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57,210
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67,754
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(10,544)
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(15.6%)
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0.0%
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Minerals & Stone
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11,885
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13,606
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(1,721)
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(12.6%)
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(12.6%)
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Petroleum Products
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910
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-
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910
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NM
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NM
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Total Carloads
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72,768
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83,588
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(10,820)
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(12.9%)
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(0.4%)
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(1) Excludes 10,556 carloads from ERS in February 2018, 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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Minerals & stone traffic decreased 1,721 carloads, or 12.6%, primarily
due to decreased aggregates shipments in Poland.
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Petroleum products traffic increased 910 carloads due to new jet fuel
business in the U.K.
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Coal & coke traffic increased 749 carloads, or 40.1%.
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All remaining traffic decreased by a net 202 carloads.
First Quarter of 2019 Through February
The table below sets forth summary total carloads by segment.
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Segment
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QTDFebruary2019
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QTDFebruary2018
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TotalChange
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Total %Change
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SameRailroad %Change(1)
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North American Operations
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259,793
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263,543
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(3,750)
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(1.4%)
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0.3%
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Australian Operations(2)
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92,190
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92,614
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(424)
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(0.5%)
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(0.5%)
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U.K./European Operations
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152,883
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175,244
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(22,361)
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(12.8%)
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(1.1%)
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Total G&W Operations
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504,866
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531,401
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(26,535)
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(5.0%)
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(0.2%)
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(1) Excludes 4,655 carloads in QTD February 2018 from short line
leases in Canada (GEXR and SOR), which expired in the fourth quarter
of 2018 and 20,630 carloads in QTD February 2018 from ERS, which was
sold in June 2018.
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(2) 51.1% owned by G&W.
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The table below sets forth North American Operations carload information
by commodity group.
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North American Operations:
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QTDFebruary2019
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QTDFebruary2018
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TotalChange
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Total %Change
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SameRailroad %Change(1)
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Agricultural Products
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34,523
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34,868
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(345)
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(1.0%)
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1.4%
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Autos & Auto Parts
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5,285
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5,560
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(275)
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(4.9%)
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(1.7%)
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Chemicals & Plastics
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26,463
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28,023
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(1,560)
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(5.6%)
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(2.1%)
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Coal & Coke
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38,698
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42,394
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(3,696)
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(8.7%)
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(8.7%)
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Food & Kindred Products
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9,673
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9,870
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(197)
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(2.0%)
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0.8%
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Intermodal
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2,025
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1,903
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122
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6.4%
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6.4%
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Lumber & Forest Products
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21,466
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23,578
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(2,112)
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(9.0%)
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(8.5%)
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Metallic Ores
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2,412
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2,937
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(525)
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(17.9%)
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(17.8%)
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Metals
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24,219
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22,571
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1,648
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7.3%
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11.1%
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Minerals & Stone
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30,484
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30,146
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338
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1.1%
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3.0%
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Petroleum Products
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18,379
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17,461
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918
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5.3%
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9.0%
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Pulp & Paper
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27,680
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26,915
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765
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2.8%
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3.1%
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Waste
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8,718
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7,704
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1,014
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13.2%
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13.9%
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Other
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9,768
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9,613
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155
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1.6%
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4.2%
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Total Carloads
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259,793
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263,543
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(3,750)
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(1.4%)
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0.3%
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(1) Excludes 4,655 carloads in QTD February 2018 from short line
leases in Canada (GEXR and SOR), which expired in the fourth quarter
of 2018.
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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):
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QTDFebruary2019
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QTDFebruary2018
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TotalChange
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Total %Change
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Agricultural Products
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2,519
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8,283
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(5,764)
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(69.6%)
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Coal & Coke
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68,067
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62,348
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5,719
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9.2%
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Intermodal
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7,535
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8,291
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(756)
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(9.1%)
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Metallic Ores
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3,389
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3,005
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384
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12.8%
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Minerals & Stone
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10,648
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10,645
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3
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0.0%
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Petroleum Products
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32
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42
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(10)
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(23.8%)
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Total Carloads
|
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92,190
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|
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92,614
|
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(424)
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(0.5%)
|
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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QTDFebruary2019
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QTDFebruary2018
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TotalChange
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Total %Change
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SameRailroad %Change(1)
|
|
Agricultural Products
|
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423
|
|
|
648
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(225)
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(34.7%)
|
|
|
(34.7%)
|
|
Coal & Coke
|
|
|
6,000
|
|
|
4,052
|
|
|
1,948
|
|
|
48.1%
|
|
|
48.1%
|
|
Intermodal
|
|
|
122,420
|
|
|
143,190
|
|
|
(20,770)
|
|
|
(14.5%)
|
|
|
(0.1%)
|
|
Minerals & Stone
|
|
|
22,113
|
|
|
27,354
|
|
|
(5,241)
|
|
|
(19.2%)
|
|
|
(19.2%)
|
|
Petroleum Products
|
|
|
1,927
|
|
|
0
|
|
|
1,927
|
|
|
NM
|
|
|
NM
|
|
Total Carloads
|
|
|
152,883
|
|
|
175,244
|
|
|
(22,361)
|
|
|
(12.8%)
|
|
|
(1.1%)
|
|
|
|
(1) Excludes 20,630 carloads from ERS in QTD February 2018, which
was sold in June 2018.
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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 120 freight railroads organized in eight locally
managed operating regions with 8,000 employees serving 3,000 customers.
-
G&W's six North American regions serve 41 U.S. states and four
Canadian provinces and include 114 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/20190314005197/en/
