Genesee & Wyoming Reports Traffic for April 2018
DARIEN, Conn.--(BUSINESS WIRE)--May 14, 2018--Genesee & Wyoming Inc. (G&W) (NYSE:GWR) today reported traffic volumes for April 2018.
G&W’s traffic in April 2018 was 270,101 carloads, an increase of 9,661 carloads, or 3.7%, compared with April 2017. G&W’s same-railroad traffic in April 2018 was 269,583 carloads, an increase of 9,143 carloads, or 3.5%, compared with April 2017.
The table below sets forth summary total carloads by segment.
Highlights by SegmentNorth American Operations: Traffic in April 2018 was 135,938 carloads, an increase of 5.3% compared with April 2017, including carloads from the Heart of Georgia Railroad, Inc. (HOG), which was acquired on May 31, 2017. On a same-railroad basis, North American traffic increased 4.9%, primarily due to increased coal & coke and minerals & stone traffic. Australian Operations: Traffic in April 2018 was 48,229 carloads, a decrease of 2.6% compared with April 2017, primarily due to decreased metallic ores 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 2018 was 85,934 carloads, an increase of 5.0% compared with April 2017, primarily due to increased minerals & stone traffic in the U.K. and Poland.
The table below sets forth North American Operations carload information by commodity group.
The following highlights relate to North American same-railroad traffic, excluding traffic from HOG, which was acquired on May 31, 2017.Coal & coke traffic increased 2,667 carloads, or 16.3%, primarily due to increased shipments in G&W’s Central Region, partially offset by decreased shipments in G&W’s Midwest Region. Minerals & stone traffic increased 2,194 carloads, or 13.0%, primarily due to increased shipments of construction aggregates and frac sand in G&W’s Northeast Region and construction aggregates in G&W’s Coastal Region. All remaining traffic increased by a net 1,472 carloads.
The table below sets forth carload information for G&W’s 51.1% owned Australian Operations by commodity group.Metallic ores traffic decreased 772 carloads, or 29.0%, primarily due to the planned, temporary shutdown of an iron ore mine in October 2017. Coal & coke traffic decreased 639 carloads, or 2.0%. All remaining traffic increased by a net 119 carloads.
The table below sets forth U.K./European Operations carload information by commodity group.Minerals & stone traffic increased 3,197 carloads, or 24.3%, primarily due to increased shipments in the U.K. and Poland. All remaining traffic increased by a net 905 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, 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.
G&W owns or leases 122 freight railroads organized in nine locally managed operating regions with 8,000 employees serving 3,000 customers.G&W’s seven 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 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/20180514005284/en/
CONTACT: Genesee & Wyoming Inc.
Thomas D. Savage, 1-203-202-8900
Senior Vice President – Corporate Development & Treasurer
KEYWORD: UNITED STATES NORTH AMERICA CONNECTICUT
INDUSTRY KEYWORD: TRANSPORT RAIL OTHER TRANSPORT LOGISTICS/SUPPLY CHAIN MANAGEMENT
SOURCE: Genesee & Wyoming Inc.
Copyright Business Wire 2018.
PUB: 05/14/2018 06:30 AM/DISC: 05/14/2018 06:30 AM