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Genesee & Wyoming Reports Traffic for November 2018

December 14, 2018

DARIEN, Conn.--(BUSINESS WIRE)--Dec 14, 2018--Genesee & Wyoming Inc. (G&W) (NYSE:GWR) today reported traffic volumes for November 2018.

G&W’s total traffic in November 2018 was 259,900 carloads, a decrease of 12,012 carloads, or 4.4%, compared with November 2017. G&W’s same railroad traffic in November 2018 decreased 576 carloads, or 0.2%, compared with G&W’s traffic in November 2017, 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 (SOR and GEXR) in the fourth quarter of 2018.

G&W’s traffic in the fourth quarter of 2018 through November was 546,080 carloads, a decrease of 1,149 carloads, or 0.2%, compared with the fourth quarter of 2017 through November. G&W’s same railroad traffic in the fourth quarter of 2018 through November increased 18,582 carloads, or 3.5%, compared with the fourth quarter of 2017 through November.

The table below sets forth summary total carloads by segment.

Highlights by Segment

North American Operations: Traffic in November 2018 was 133,604 carloads, an increase of 2.3% compared with November 2017. Excluding traffic from short line lease expirations in Canada, traffic in November 2018 increased 2.7% compared with same railroad traffic in November 2017, primarily due to increased petroleum products and metals traffic, partially offset by decreased minerals & stone traffic. Australian Operations: Traffic in November 2018 was 39,813 carloads, a decrease of 6.9% compared with November 2017, primarily due to decreased coal & coke and agricultural products traffic. Carload information for G&W’s 51.1% owned Australian Operations is presented on a 100% basis. U.K./European Operations: Traffic in November 2018 was 86,483 carloads, a decrease of 12.2% compared with November 2017. Excluding traffic from ERS, traffic in November 2018 decreased 1.4% compared with same railroad traffic in November 2017, primarily due to decreased intermodal traffic in the U.K.

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

The following highlights relate to North American same railroad traffic:

Petroleum products traffic increased 1,770 carloads, or 20.8%, primarily due to increased shipments in G&W’s Canada and Northeast regions. Metals traffic increased 1,753 carloads, or 16.7%, primarily due to increased scrap steel and finished steel shipments in G&W’s Northeast and Midwest regions. Minerals & stone traffic decreased 1,384 carloads, or 7.9%, primarily due to decreased aggregates shipments in G&W’s Central Region. All remaining traffic increased by a net 1,427 carloads.

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

Coal & coke traffic decreased 1,738, or 6.3%, primarily due to decreased shipments in the Hunter Valley. Agricultural products traffic decreased 1,539 carloads, or 58.1%, primarily due to a delayed start to the 2018-2019 South Australia grain harvest. All remaining traffic increased by a net 323 carloads.

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

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

Intermodal traffic in the U.K. decreased 1,115 carloads, or 1.6%. All remaining traffic decreased by a net 73 carloads.

Fourth Quarter of 2018 Through November

The table below sets forth summary total carloads by segment.

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

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

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

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 121 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/20181214005030/en/

CONTACT: Genesee & Wyoming Inc.

Thomas D. Savage, 1-203-202-8900

Senior Vice President – Corporate Development & Treasurer

Web Site:http://www.gwrr.com

KEYWORD: UNITED STATES NORTH AMERICA CONNECTICUT

INDUSTRY KEYWORD: TRANSPORT RAIL OTHER TRANSPORT LOGISTICS/SUPPLY CHAIN MANAGEMENT NATURAL RESOURCES MINING/MINERALS PROFESSIONAL SERVICES FINANCE

SOURCE: Genesee & Wyoming Inc.

Copyright Business Wire 2018.

PUB: 12/14/2018 06:30 AM/DISC: 12/14/2018 06:31 AM

http://www.businesswire.com/news/home/20181214005030/en

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