DARIEN, Conn.--(BUSINESS WIRE)--Genesee & Wyoming Inc. (G&W) (NYSE:GWR) today reported traffic volumes for October 2016.
G&W’s traffic in October 2016 was 245,344 carloads, a decrease of 11,865 carloads, or 4.6%, compared with October 2015.
The table below sets forth summary total carloads by segment for October 2016 and October 2015.
|North American Operations||134,939||137,632||(2,693)||(2.0%)|
|Total G&W Operations||245,344||257,209||(11,865)||(4.6%)|
October 2016 Highlights by Segment
- North American Operations: Traffic in October 2016 was 134,939 carloads, a decrease of 2.0% compared with October 2015. The decrease was primarily due to reduced minerals & stone traffic, partially offset by increased coal & coke traffic.
- Australian Operations: Traffic in October 2016 was 14,153 carloads, an increase of 2.6% compared with October 2015. The increase was primarily due to increased agricultural products traffic, partially offset by reduced metallic ores traffic.
- U.K./European Operations: Traffic in October 2016 was 96,252 carloads, a decrease of 9.0% compared with October 2015. The decrease was primarily due to lower than expected intermodal and minerals & stone traffic.
The table below sets forth North American Operations carload information for October 2016 and October 2015 by commodity group.
|North American Operations:||
|Autos & Auto Parts||2,684||1,856||828||44.6%|
|Chemicals & Plastics||14,628||15,092||(464)||(3.1%)|
|Coal & Coke||20,737||19,323||1,414||7.3%|
|Food & Kindred Products||5,661||5,436||225||4.1%|
|Lumber & Forest Products||11,468||12,262||(794)||(6.5%)|
|Minerals & Stone||17,420||19,712||(2,292)||(11.6%)|
|Pulp & Paper||12,643||14,130||(1,487)||(10.5%)|
- North American Operations traffic decreased 2,693 carloads, or 2.0%.
- Minerals & stone traffic decreased 2,292 carloads, or 11.6%, primarily due to decreased shipments of rock salt and frac sand in G&W’s Northeast Region.
- Other commodity group traffic decreased 1,903 carloads, or 28.9%, primarily due to decreased shipments of empty car traffic in G&W’s Central, Northeast and Canada regions.
- Pulp & paper traffic decreased 1,487 carloads, or 10.5%, primarily due to decreased shipments in G&W’s Southern, Northeast and Canada regions.
- Coal & Coke traffic increased 1,414 carloads, or 7.3%, primarily due to increased shipments in G&W’s Midwest Region.
- All remaining traffic increased by a net 1,575 carloads.
The table below sets forth Australian Operations carload information for October 2016 and October 2015 by commodity group.
|Minerals & Stone||5,644||5,413||231||4.3%|
- Australian Operations traffic decreased 354 carloads, or 2.6%
- Agricultural products traffic increased 546 carloads, or 33.6%.
- Metallic ores traffic decreased 425 carloads, or 25.5%, primarily due to the previously announced closure of a manganese mine in 2015, partially offset by the short-term re-opening of an iron ore mine in 2016.
The table below sets forth U.K./European Operations carload information for October 2016 and October 2015 by commodity group.
|U.K./European Operations:||October 2016||October 2015||Change||% Change|
|Coal & Coke||4,138||5,180||(1,042)||(20.1%)|
|Lumber & Forest Products||158||-||158||NM|
|Minerals & Stone||14,338||17,463||(3,125)||(17.9%)|
- U.K./European Operations traffic decreased 9,526 carloads, or 9.0%.
- Intermodal traffic decreased 5,904 carloads, or 7.1%, primarily due to decreased shipments in continental Europe due to service cancellations and low utilization of services and in the U.K. due to port congestion.
- Minerals & stone traffic decreased 3,125 carloads, or 17.9%, primarily due to decreased shipments in the U.K. and Poland.
- All remaining traffic decreased by a net 497 carloads.
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, income from operations or net income.
G&W’s three reportable segments are summarized as follows:
- The North American Operations segment is comprised of eight operating regions in the U.S. and Canada. This segment represents approximately 60% of G&W’s total operating revenues and approximately 80% of G&W’s total income from operations.
- The Australian Operations segment is comprised of operations in South Australia, the Northern Territory and New South Wales. This segment represents approximately 10% of G&W’s total operating revenues and approximately 10% of G&W’s total income from operations.
- The U.K./European Operations segment is comprised of operations in the U.K. and continental Europe. This segment represents approximately 30% of G&W’s total operating revenues and approximately 10% of G&W’s total income from operations.
Genesee & Wyoming owns or leases 121 freight railroads worldwide that are organized in 10 operating regions with approximately 7,200 employees and more than 2,800 customers.
- G&W’s eight 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 provides rail freight services in New South Wales, the Northern Territory and South Australia and operates the 1,400-mile Tarcoola-to-Darwin rail line.
- G&W’s U.K./Europe Region is led by Freightliner, the U.K.’s largest rail maritime intermodal operator and second-largest rail freight company. Operations also include heavy-haul in Poland and Germany and cross-border intermodal services connecting Northern European seaports with key industrial regions throughout the continent.
G&W subsidiaries provide rail service at more than 40 major ports in North America, Australia and Europe and perform contract coal loading and railcar switching for industrial customers.
For more information, visit gwrr.com.