[April 15, 2019] |
|
Genesee & Wyoming Reports Traffic for March 2019
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
-
North American Operations: Traffic in March 2019 was 134,064 carloads,
a decrease of 5.9% compared with March 2018. Same railroad traffic in
March 2019 decreased 4.0% compared with March 2018, excluding short
line lease expirations in Canada, primarily due to decreased coal &
coke and other commodity group traffic.
-
Australian Operations: Traffic in March 2019 was 45,188 carloads, a
decrease of 11.2% compared with March 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 March 2019 was 77,395 carloads, a
decrease of 10.6% compared with March 2018. Same railroad traffic in
March 2019 increased 0.5% compared with March 2018, excluding traffic
from ERS, primarily due to increased petroleum products traffic in the
U.K., partially offset by decreased minerals & stone traffic in U.K.
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:
-
Coal & coke traffic decreased 4,200 carloads, or 21.5%, primarily due
to decreased shipments in G&W's Midwest region largely due to delayed
shipments associated with flooding.
-
Other commodity group traffic decreased 1,850 carloads, or 24.9%,
primarily due to decreased empty car shipments in most G&W regions.
-
All remaining traffic increased by a net 455 carloads.
-
In addition to coal traffic, severe winter weather and flooding
negatively affected traffic in minerals & stone, lumber & forest
products and pulp & paper commodities.
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%)
|
-
Agricultural products traffic decreased 3,088 carloads, or 63.9%,
primarily due to a weaker 2018-2019 South Australia grain harvest.
-
Coal & coke traffic decreased 3,073 carloads, or 8.9%, primarily due
to decreased shipments in the Hunter Valley.
-
All remaining traffic increased by a net 448 carloads.
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:
-
Petroleum products traffic increased 1,059 due to new jet fuel
shipments in the U.K.
-
Minerals & stone traffic decreased 1,430 carloads, or 8.5%, primarily
due to decreased shipments in the U.K. in part due to a 3rd
party derailment on the open access rail network.
-
All remaining traffic increased by a net 721 carloads.
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%)
|
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'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/20190415005874/en/
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