DARIEN, Conn. --(BUSINESS WIRE)--
Genesee & Wyoming Inc. (G&W) (NYSE:GWR) today reported traffic volumes for January 2017.
G&W’s traffic in January 2017 was 278,268 carloads, an increase of 59,837 carloads, or 27.4%, compared with January 2016. G&W’s same-railroad traffic in January 2017 was 240,801 carloads, an increase of 22,370 carloads, or 10.2%, compared with January 2016.
The table below sets forth summary total carloads by segment for January 2017 and January 2016.
|North American Operations||138,551||124,416||14,135||11.4%|
|Total G&W Operations||278,268||218,431||59,837||27.4%|
|Carloads from New Railroads||37,467|
|(1) 51.1% owned by G&W as of December 1, 2016.|
January 2017 Highlights by Segment
- North American Operations: Traffic in January 2017 was 138,551 carloads, an increase of 11.4% compared with January 2016, including carloads from the Providence and Worcester Railroad Company (P&W) acquisition, which closed on November 1, 2016. On a same-railroad basis, North American traffic increased 9.1%, primarily due to increased coal & coke, agricultural products and minerals & stone traffic.
- Australian Operations: Traffic in January 2017 was 51,977 carloads, including carloads from the Glencore Rail (GRail) acquisition, which closed on December 1, 2016. On a same-railroad basis, Australian traffic increased 14.7%, primarily due to increased agricultural products and metallic ores traffic. Please note, simultaneous with the GRail acquisition, G&W issued a 48.9% equity stake in its Australian Operations to Macquarie Infrastructure and Real Assets. Carload information for the Australian Operations is presented on a 100% basis.
- U.K./European Operations: Traffic in January 2017 was 87,740 carloads, an increase of 11.2% compared with January 2016, primarily due to increased intermodal traffic.
The table below sets forth North American Operations carload information for January 2017 and January 2016 by commodity group.
|North American Operations:|| |
|Autos & Auto Parts||2,757||1,800||957||53.2%|
|Chemicals & Plastics||15,835||14,139||1,696||12.0%|
|Coal & Coke||22,407||18,399||4,008||21.8%|
|Food & Kindred Products||4,976||4,710||266||5.6%|
|Lumber & Forest Products||10,682||10,840||(158)||(1.5%)|
|Minerals & Stone||15,475||12,915||2,560||19.8%|
|Pulp & Paper||13,971||14,707||(736)||(5.0%)|
|Carloads from New Railroads(1)||2,799|
|(1) Total carloads from P&W, which was acquired on November 1, 2016 and contributed 509 carloads of intermodal traffic, 433 carloads of minerals & stone traffic, 428 carloads of autos & auto parts traffic, 396 carloads of chemicals & plastics traffic, 246 carloads of metals traffic and 787 carloads from all other commodities.|
The following highlights relate to North American same-railroad traffic, excluding traffic from P&W, which was acquired on November 1, 2016.
- Coal & coke traffic increased 4,008 carloads, or 21.8%, primarily due to increased shipments of utility coal in G&W’s Midwest Region.
- Agricultural products traffic increased 2,164 carloads, or 12.3%, primarily due to increased shipments in G&W’s Central, Mountain West and Midwest regions.
- Minerals & stone traffic increased 2,127 carloads, or 16.5%, primarily due to increased shipments of rock salt in G&W’s Northeast Region.
- All remaining traffic increased by a net 3,037 carloads.
The table below sets forth carload information for G&W’s 51.1% owned Australian Operations for January 2017 and January 2016 by commodity group.
|Australian Operations(1):|| |
|Coal & Coke||34,668||-||34,668||NM|
|Minerals & Stone||5,737||5,816||(79)||(1.4%)|
|Carloads from New Railroads(2)||34,668|
|(1) 51.1% owned by G&W as of December 1, 2016.|
|(2) Total carloads from GRail, which was acquired on December 1, 2016 and contributed 34,668 carloads of coal & coke traffic.|
The following highlights relate to Australian same-railroad traffic, excluding traffic from GRail, which was acquired on December 1, 2016.
- Agricultural products traffic increased 1,159 carloads, or 28.7%, primarily due to the start of the 2016/2017 harvest.
- Metallic ores traffic increased 1,082 carloads primarily due to the short-term re-opening of an iron ore mine.
- All remaining traffic decreased by a net 27 carloads.
The table below sets forth U.K./European Operations carload information for January 2017 and January 2016 by commodity group.
|U.K./European Operations:|| |
|Coal & Coke||4,091||4,033||58||1.4%|
|Lumber & Forest Products||-||45||(45)||NM|
|Minerals & Stone||8,038||7,532||506||6.7%|
- Intermodal traffic increased by 7,804 carloads, or 11.6%, primarily in the U.K. and continental Europe.
- All remaining traffic increased by a net 1,016 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. 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.
Genesee & Wyoming owns or leases 122 freight railroads worldwide that are organized in 10 operating regions with approximately 7,300 employees and 3,000 customers.
- G&W’s eight North American regions serve 41 U.S. states and four Canadian provinces and include 115 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, including in the Hunter Valley coal supply chain, the Northern Territory and South Australia, including operating 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 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.
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