Genesee & Wyoming Reports Traffic for April 2019

DARIEN, Conn.--()--Genesee & Wyoming Inc. (G&W) (NYSE:GWR) today reported traffic volumes for April 2019.

G&W’s total traffic in April 2019 was 255,647 carloads, a decrease of 14,454 carloads, or 5.4%, compared with April 2018. G&W’s same railroad traffic in April 2019 decreased 815 carloads, or 0.3%, compared with G&W’s traffic in April 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.

The table below sets forth summary total carloads by segment.

Segment       April 2019     April 2018    

Total
Change

   

Total %
Change

   

Same
Railroad %
Change(1)

North American Operations 139,903 135,938 3,965 2.9% 4.8%
Australian Operations(2) 43,123 48,229 (5,106) (10.6%) (10.6%)
U.K./European Operations 72,621 85,934 (13,313) (15.5%) (2.8%)
Total G&W Operations 255,647 270,101 (14,454) (5.4%) (0.3%)
(1) Excludes 2,441 carloads in April 2018 from short line leases in Canada (GEXR and SOR), which expired in the fourth quarter of 2018 and 11,198 carloads in April 2018 from ERS, which was sold in June 2018.
(2) 51.1% owned by G&W.
 

Highlights by Segment

  • North American Operations: Traffic in April 2019 was 139,903 carloads, an increase of 2.9% compared with April 2018. Same railroad traffic in April 2019 increased 4.8% compared with April 2018, excluding short line lease expirations in Canada, primarily due to increased agricultural products, minerals & stone and chemicals & plastics traffic, partially offset by decreased coal & coke traffic.
  • Australian Operations: Traffic in April 2019 was 43,123 carloads, a decrease of 10.6% compared with April 2018, primarily due to decreased agricultural products and 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 April 2019 was 72,621 carloads, a decrease of 15.5% compared with April 2018. Same railroad traffic in April 2019 decreased 2.8% compared with April 2018, excluding traffic from ERS, primarily due to decreased intermodal traffic in the U.K., partially offset by increased petroleum products traffic in the U.K.

The table below sets forth North American Operations carload information by commodity group.

North American Operations:       April 2019     April 2018    

Total
Change

   

Total %
Change

   

Same
Railroad %
Change(1)

Agricultural Products 19,359 17,054 2,305 13.5% 15.9%
Autos & Auto Parts 2,723 3,082 (359) (11.6%) (7.1%)
Chemicals & Plastics 15,763 14,289 1,474 10.3% 14.2%
Coal & Coke 16,688 19,029 (2,341) (12.3%) (12.3%)
Food & Kindred Products 5,079 4,881 198 4.1% 7.0%
Intermodal 1,872 1,366 506 37.0% 37.0%
Lumber & Forest Products 12,003 12,274 (271) (2.2%) (1.6%)
Metallic Ores 1,228 1,418 (190) (13.4%) (13.3%)
Metals 11,970 12,517 (547) (4.4%) (0.7%)
Minerals & Stone 21,163 19,051 2,112 11.1% 13.0%
Petroleum Products 8,109 7,563 546 7.2% 11.4%
Pulp & Paper 12,776 13,079 (303) (2.3%) (2.1%)
Waste 5,108 4,445 663 14.9% 15.8%
Other 6,062 5,890 172 2.9% 5.0%
Total Carloads 139,903 135,938 3,965 2.9% 4.8%
(1) Excludes 2,441 carloads in April 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:

  • Agricultural products traffic increased 2,658 carloads, or 15.9%, primarily due to increased shipments in G&W’s Western and Midwest regions.
  • Minerals & stone traffic increased 2,434 carloads, or 13.0%, due to increased shipments in all G&W regions, led by the Northeast Region.
  • Chemicals & plastics traffic increased 1,957 carloads, or 14.2%, primarily due to increased shipments in G&W’s Western and Midwest regions.
  • Coal & coke traffic decreased 2,341 carloads, or 12.3%, primarily due to decreased shipments in G&W’s Southern Region, partially offset by increased shipments in G&W’s Northeast Region.
  • All remaining traffic increased by a net 1,698 carloads.

The table below sets forth carload information for G&W’s 51.1% owned Australian Operations by commodity group.

Australian Operations(1):      

April
2019

   

April
2018

   

Total
Change

   

Total %
Change

Agricultural Products 1,724 5,060 (3,336) (65.9%)
Coal & Coke 30,287 31,376 (1,089) (3.5%)
Intermodal 4,153 4,266 (113) (2.6%)
Metallic Ores 1,794 1,886 (92) (4.9%)
Minerals & Stone 5,148 5,618 (470) (8.4%)
Petroleum Products 17 23 (6) (26.1%)
Total Carloads 43,123 48,229 (5,106) (10.6%)
 
(1) 51.1% owned by G&W.
 
  • Agricultural products traffic decreased 3,336 carloads, or 65.9%, primarily due to a weaker 2018-2019 South Australia grain harvest.
  • Coal & coke traffic decreased 1,089 carloads, or 3.5%, primarily due to decreased shipments in the Hunter Valley.
  • All remaining traffic decreased by a net 681 carloads.

The table below sets forth U.K./European Operations carload information by commodity group.

U.K./European Operations:       April 2019     April 2018    

Total
Change

   

Total %
Change

   

Same
Railroad %
Change(1)

Agricultural Products 253 146 107 73.3% 73.3%
Coal & Coke 975 1,251 (276) (22.1%) (22.1%)
Intermodal 54,783 68,210 (13,427) (19.7%) (3.9%)
Minerals & Stone 15,427 16,327 (900) (5.5%) (5.5%)
Petroleum Products 1,183 - 1,183 NM NM
Total Carloads 72,621 85,934 (13,313) (15.5%) (2.8%)
 
(1) Excludes 11,198 carloads in April 2018 from ERS, which was sold in June 2018.
 

The following highlights relate to U.K./European same railroad traffic:

  • Intermodal traffic decreased 2,229 carloads, or 3.9%, due to decreased shipments in the U.K.
  • Petroleum products traffic increased 1,183 carloads due to new jet fuel shipments in the U.K.
  • All remaining traffic decreased by a net 1,069 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 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.

Contacts

Genesee & Wyoming Inc.
Thomas D. Savage, 1-203-202-8900
Senior Vice President – Corporate Development & Treasurer
Web Site: http://www.gwrr.com

Release Summary

Genesee & Wyoming Reports Traffic for April 2019

Contacts

Genesee & Wyoming Inc.
Thomas D. Savage, 1-203-202-8900
Senior Vice President – Corporate Development & Treasurer
Web Site: http://www.gwrr.com