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Business Wire 15-Apr-2019 5:31 PM
Genesee & Wyoming Inc. (G&W) (NYSE:GWR) today reported traffic volumes for March 2019.
G&W's total traffic in March 2019 was 256,647 carloads, a decrease of 23,265 carloads, or 8.3%, compared with March 2018. G&W's same railroad traffic in March 2019 decreased 10,958 carloads, or 4.1%, compared with G&W's traffic in March 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 was 761,513 carloads, a decrease of 49,800 carloads, or 6.1%, compared with the first quarter of 2018. G&W's same railroad traffic in the first quarter of 2019 decreased 12,208 carloads, or 1.6%, compared with the first quarter of 2018, 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. G&W's North American traffic and operations were affected by severe winter weather in the U.S. and Canada and flooding in the U.S. in the first quarter of 2019.
The table below sets forth summary total carloads by segment.
Segment |
March 2019 |
March 2018 |
Total Change |
Total % Change |
Same Railroad % Change(1) |
|||||||||||
North American Operations | 134,064 | 142,470 | (8,406) | (5.9%) | (4.0%) | |||||||||||
Australian Operations(2) | 45,188 | 50,901 | (5,713) | (11.2%) | (11.2%) | |||||||||||
U.K./European Operations | 77,395 | 86,541 | (9,146) | (10.6%) | 0.5% | |||||||||||
Total G&W Operations | 256,647 | 279,912 | (23,265) | (8.3%) | (4.1%) |
(1) Excludes 2,811 carloads in March 2018 from short line leases in Canada (GEXR and SOR), which expired in the fourth quarter of 2018 and 9,496 carloads in March 2018 from ERS, which was sold in June 2018. |
(2) 51.1% owned by G&W. |
Highlights by Segment
The table below sets forth North American Operations carload information by commodity group.
North American Operations: |
March 2019 |
March 2018 |
Total Change |
Total % Change |
Same Railroad % Change(1) |
|||||||||||
Agricultural Products | 19,732 | 18,896 | 836 | 4.4% | 7.1% | |||||||||||
Autos & Auto Parts | 3,134 | 3,156 | (22) | (0.7%) | 4.8% | |||||||||||
Chemicals & Plastics | 14,465 | 15,319 | (854) | (5.6%) | (1.9%) | |||||||||||
Coal & Coke | 15,372 | 19,572 | (4,200) | (21.5%) | (21.5%) | |||||||||||
Food & Kindred Products | 4,692 | 5,313 | (621) | (11.7%) | (8.8%) | |||||||||||
Intermodal | 1,784 | 1,181 | 603 | 51.1% | 51.1% | |||||||||||
Lumber & Forest Products | 11,479 | 12,672 | (1,193) | (9.4%) | (8.8%) | |||||||||||
Metallic Ores | 1,190 | 1,459 | (269) | (18.4%) | (18.3%) | |||||||||||
Metals | 13,031 | 12,667 | 364 | 2.9% | 6.0% | |||||||||||
Minerals & Stone | 17,021 | 17,550 | (529) | (3.0%) | (1.2%) | |||||||||||
Petroleum Products | 8,689 | 8,199 | 490 | 6.0% | 9.6% | |||||||||||
Pulp & Paper | 13,633 | 14,442 | (809) | (5.6%) | (5.5%) | |||||||||||
Waste | 4,256 | 4,277 | (21) | (0.5%) | 0.2% | |||||||||||
Other | 5,586 | 7,767 | (2,181) | (28.1%) | (24.9%) | |||||||||||
Total Carloads | 134,064 | 142,470 | (8,406) | (5.9%) | (4.0%) |
(1) Excludes 2,811 carloads in March 2018 from short line leases in Canada (GEXR and SOR), which expired in the fourth quarter of 2018. |
The following highlights relate to North American same railroad traffic:
The table below sets forth carload information for G&W's 51.1% owned Australian Operations by commodity group.
Australian Operations(1): |
March 2019 |
March 2018 |
Total Change |
Total % Change |
|||||||||
Agricultural Products | 1,741 | 4,829 | (3,088) | (63.9%) | |||||||||
Coal & Coke | 31,435 | 34,508 | (3,073) | (8.9%) | |||||||||
Intermodal | 4,166 | 4,463 | (297) | (6.7%) | |||||||||
Metallic Ores | 1,968 | 1,866 | 102 | 5.5% | |||||||||
Minerals & Stone | 5,851 | 5,218 | 633 | 12.1% | |||||||||
Petroleum Products | 27 | 17 | 10 | 58.8% | |||||||||
Total Carloads | 45,188 | 50,901 | (5,713) | (11.2%) |
(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: |
March 2019 |
March 2018 |
Total Change |
Total % Change |
Same Railroad % Change(1) |
|||||||||||
Agricultural Products | 110 | 318 | (208) | (65.4%) | (65.4%) | |||||||||||
Coal & Coke | 2,284 | 1,843 | 441 | 23.9% | 23.9% | |||||||||||
Intermodal | 58,582 | 67,590 | (9,008) | (13.3%) | 0.8% | |||||||||||
Minerals & Stone | 15,360 | 16,790 | (1,430) | (8.5%) | (8.5%) | |||||||||||
Petroleum Products | 1,059 | - | 1,059 | NM | NM | |||||||||||
Total Carloads | 77,395 | 86,541 | (9,146) | (10.6%) | 0.5% |
(1) Excludes 9,496 carloads in March 2018 from ERS, which was sold in June 2018. |
The following highlights relate to U.K./European same railroad traffic:
First Quarter of 2019
The table below sets forth summary total carloads by segment.
Segment | Q1 2019 | Q1 2018 |
Total Change |
Total % Change |
Same Railroad % Change(1) |
|||||||||||
North American Operations | 393,857 | 406,013 | (12,156) | (3.0%) | (1.2%) | |||||||||||
Australian Operations(2) | 137,378 | 143,515 | (6,137) | (4.3%) | (4.3%) | |||||||||||
U.K./European Operations | 230,278 | 261,785 | (31,507) | (12.0%) | (0.6%) | |||||||||||
Total G&W Operations | 761,513 | 811,313 | (49,800) | (6.1%) | (1.6%) |
(1) Excludes 7,466 carloads in Q1 2018 from short line leases in Canada (GEXR and SOR), which expired in the fourth quarter of 2018 and 30,126 carloads in Q1 2018 from ERS, which was sold in June 2018. |
(2) 51.1% owned by G&W. |
The table below sets forth North American Operations carload information by commodity group.
North American Operations: | Q1 2019 | Q1 2018 |
Total Change |
Total % Change |
Same Railroad % Change(1) |
|||||||||||
Agricultural Products | 54,255 | 53,764 | 491 | 0.9% | 3.4% | |||||||||||
Autos & Auto Parts | 8,419 | 8,716 | (297) | (3.4%) | 0.6% | |||||||||||
Chemicals & Plastics | 40,928 | 43,342 | (2,414) | (5.6%) | (2.0%) | |||||||||||
Coal & Coke | 54,070 | 61,966 | (7,896) | (12.7%) | (12.7%) | |||||||||||
Food & Kindred Products | 14,365 | 15,183 | (818) | (5.4%) | (2.6%) | |||||||||||
Intermodal | 3,809 | 3,084 | 725 | 23.5% | 23.5% | |||||||||||
Lumber & Forest Products | 32,945 | 36,250 | (3,305) | (9.1%) | (8.6%) | |||||||||||
Metallic Ores | 3,602 | 4,396 | (794) | (18.1%) | (18.0%) | |||||||||||
Metals | 37,250 | 35,238 | 2,012 | 5.7% | 9.3% | |||||||||||
Minerals & Stone | 47,505 | 47,696 | (191) | (0.4%) | 1.4% | |||||||||||
Petroleum Products | 27,068 | 25,660 | 1,408 | 5.5% | 9.2% | |||||||||||
Pulp & Paper | 41,313 | 41,357 | (44) | (0.1%) | 0.1% | |||||||||||
Waste | 12,974 | 11,981 | 993 | 8.3% | 9.0% | |||||||||||
Other | 15,354 | 17,380 | (2,026) | (11.7%) | (8.7%) | |||||||||||
Total Carloads | 393,857 | 406,013 | (12,156) | (3.0%) | (1.2%) |
(1) Excludes 7,466 carloads in Q1 2018 from short line leases in Canada (GEXR and SOR), which 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.
Australian Operations(1): | Q1 2019 | Q1 2018 |
Total Change |
Total % Change |
|||||||||
Agricultural Products | 4,260 | 13,112 | (8,852) | (67.5%) | |||||||||
Coal & Coke | 99,502 | 96,856 | 2,646 | 2.7% | |||||||||
Intermodal | 11,701 | 12,754 | (1,053) | (8.3%) | |||||||||
Metallic Ores | 5,357 | 4,871 | 486 | 10.0% | |||||||||
Minerals & Stone | 16,499 | 15,863 | 636 | 4.0% | |||||||||
Petroleum Products | 59 | 59 | - | 0.0% | |||||||||
Total Carloads | 137,378 | 143,515 | (6,137) | (4.3%) |
(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 2019 | Q1 2018 |
Total Change |
Total % Change |
Same Railroad % Change(1) |
|||||||||||
Agricultural Products | 533 | 966 | (433) | (44.8%) | (44.8%) | |||||||||||
Coal & Coke | 8,284 | 5,895 | 2,389 | 40.5% | 40.5% | |||||||||||
Intermodal | 181,002 | 210,780 | (29,778) | (14.1%) | 0.2% | |||||||||||
Minerals & Stone | 37,473 | 44,144 | (6,671) | (15.1%) | (15.1%) | |||||||||||
Petroleum Products | 2,986 | - | 2,986 | NM | NM | |||||||||||
Total Carloads | 230,278 | 261,785 | (31,507) | (12.0%) | (0.6%) |
(1) Excludes 30,126 carloads in Q1 2018 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 120 freight railroads organized in eight locally managed operating regions with 8,000 employees serving 3,000 customers.
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/20190415005874/en/