Genesee & Wyoming Inc. (G&W) (NYSE:GWR) today reported traffic volumes
for July 2015.
Based on G&W’s significant increase in operations in the U.K. and
continental Europe resulting from the acquisition of the London-based
Freightliner Group Limited (Freightliner) in March 2015, G&W is now
presenting traffic information in three reportable segments: North
American Operations, Australian Operations and U.K./European Operations.
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 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.
G&W’s three reportable segments are summarized as follows:
-
The North American Operations segment is comprised of nine operating
regions in the U.S. and Canada. This segment represents approximately
57% of G&W’s total operating revenues and approximately 75% of G&W’s
total income from operations.
-
The Australian Operations segment is comprised of G&W’s existing
operations in Australia and the newly-acquired Freightliner Australia
operations. This segment represents approximately 12% of G&W’s total
operating revenues and approximately 14% of G&W’s total income from
operations. Revenues from Freightliner’s Australia operations are not
reported as freight revenues and therefore are not included in this
traffic report.
-
The U.K./European Operations segment is comprised of Freightliner’s
operations in the U.K. and Continental Europe and G&W’s existing
European port shunting operations. This segment represents
approximately 31% of G&W’s total operating revenues and approximately
11% of G&W’s total income from operations. G&W’s existing European
port shunting operations are not reported as freight revenues and
therefore are not included in this traffic report. As a result, there
is no traffic information provided for the comparative period in the
prior year for this segment.
July 2015 Traffic
G&W’s traffic in July 2015 was 266,372 carloads, an increase of 89,186
carloads, or 50.3%, compared with July 2014. G&W’s same-railroad traffic
in July 2015 was 153,901 carloads, a decrease of 23,285 carloads, or
13.1%, compared with July 2014. 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.
The table below sets forth summary total carloads by segment for July
2015 and July 2014.
Segment
|
|
|
|
|
July 2015
|
|
|
July 2014
|
|
|
Change
|
|
|
% Change
|
North American Operations
|
|
|
|
|
139,335
|
|
|
157,261
|
|
|
(17,926)
|
|
|
(11.4%)
|
Australian Operations
|
|
|
|
|
17,508
|
|
|
19,925
|
|
|
(2,417)
|
|
|
(12.1%)
|
U.K./European Operations(a)
|
|
|
|
|
109,529
|
|
|
n/a
|
|
|
n/a
|
|
|
n/a
|
Total G&W Operations
|
|
|
|
|
266,372
|
|
|
177,186
|
|
|
89,186
|
|
|
50.3%
|
(a) Operations from the Freightliner Group acquired on March 25, 2015
|
|
July 2015 Highlights by Segment
-
North American Operations: Traffic in July 2015 was 139,335 carloads,
a decrease of 11.4% compared with July 2014. On a same-railroad basis,
traffic declined 20,868 carloads or 13.3%. The decrease was primarily
due to reduced shipments of coal & coke, metals and agricultural
products traffic.
-
Australian Operations: Traffic in July 2015 was 17,508 carloads, a
decrease of 12.1% compared with July 2014. The decrease was primarily
due to reduced metallic ores shipments from previously announced
closures of customer iron ore mines.
-
U.K./European Operations: Traffic was 109,529 carloads in July 2015.
Traffic in July 2015 was led by intermodal traffic in the U.K. and
continental Europe as well as minerals & stone traffic in Poland and
the U.K.
The table below sets forth North American Operations carload information
for July 2015 and July 2014 by commodity group.
North American Operations:
|
|
|
|
|
July 2015
|
|
|
July 2014
|
|
|
Change
|
|
|
% Change
|
Agricultural Products
|
|
|
|
|
16,752
|
|
|
18,866
|
|
|
(2,114)
|
|
|
(11.2%)
|
Autos & Auto Parts
|
|
|
|
|
2,227
|
|
|
2,934
|
|
|
(707)
|
|
|
(24.1%)
|
Chemicals & Plastics
|
|
|
|
|
14,193
|
|
|
14,511
|
|
|
(318)
|
|
|
(2.2%)
|
Coal & Coke
|
|
|
|
|
21,957
|
|
|
31,731
|
|
|
(9,774)
|
|
|
(30.8%)
|
Food & Kindred Products
|
|
|
|
|
4,935
|
|
|
5,221
|
|
|
(286)
|
|
|
(5.5%)
|
Intermodal
|
|
|
|
|
6
|
|
|
385
|
|
|
(379)
|
|
|
(98.4%)
|
Lumber & Forest Products
|
|
|
|
|
11,674
|
|
|
11,636
|
|
|
38
|
|
|
0.3%
|
Metallic Ores
|
|
|
|
|
2,211
|
|
|
1,863
|
|
|
348
|
|
|
18.7%
|
Metals
|
|
|
|
|
11,703
|
|
|
16,170
|
|
|
(4,467)
|
|
|
(27.6%)
|
Minerals & Stone
|
|
|
|
|
20,084
|
|
|
19,583
|
|
|
501
|
|
|
2.6%
|
Petroleum Products
|
|
|
|
|
8,098
|
|
|
9,251
|
|
|
(1,153)
|
|
|
(12.5%)
|
Pulp & Paper
|
|
|
|
|
15,577
|
|
|
14,977
|
|
|
600
|
|
|
4.0%
|
Waste
|
|
|
|
|
4,060
|
|
|
3,492
|
|
|
568
|
|
|
16.3%
|
Other
|
|
|
|
|
5,858
|
|
|
6,641
|
|
|
(783)
|
|
|
(11.8%)
|
Total carloads
|
|
|
|
|
139,335
|
|
|
157,261
|
|
|
(17,926)
|
|
|
(11.4%)
|
Carloads from New Railroads(1)
|
|
|
|
|
2,942
|
|
|
|
|
|
|
|
|
|
Same-railroad carloads
|
|
|
|
|
136,393
|
|
|
157,261
|
|
|
(20,868)
|
|
|
(13.3%)
|
(1) Total carloads from North American rail operations commenced or
acquired by G&W in the last 12 months, including the Arkansas
Midland Railroad, the Prescott & Northwestern Railroad and the
Warren & Saline River Railroad. These railroads contributed 1,554
carloads of minerals & stone traffic, 616 carloads of lumber &
forest products traffic, 378 carloads of chemicals & plastics
traffic and 394 carloads from all other commodities.
|
|
The following highlights relate to North American same-railroad traffic,
excluding traffic from the Arkansas Midland Railroad, the Prescott &
Northwestern Railroad and the Warren & Saline River Railroad, which were
acquired on January 5, 2015.
-
North American Operations traffic decreased 20,868 carloads, or 13.3%,
primarily due to decreases in coal & coke, metals and agricultural
products traffic.
-
Coal & coke traffic decreased 9,774 carloads, or 30.8%, primarily due
to decreased shipments in G&W’s Midwest, Central, Ohio Valley and
Mountain West regions.
-
Metals traffic decreased 4,567 carloads, or 28.2%, primarily due to
decreased shipments in G&W’s Ohio Valley, Southern and Northeast
regions.
-
Agricultural products traffic decreased 2,151 carloads, or 11.4%,
primarily due to decreased shipments in G&W’s Midwest, Mountain West
and Ohio Valley regions.
-
All remaining traffic decreased by a net 4,376 carloads.
The table below sets forth Australian Operations carload information for
July 2015 and July 2014 by commodity group.
Australian Operations:
|
|
|
|
|
July 2015
|
|
|
July 2014
|
|
|
Change
|
|
|
% Change
|
Agricultural Products
|
|
|
|
|
4,423
|
|
|
4,897
|
|
|
(474)
|
|
|
(9.7%)
|
Intermodal
|
|
|
|
|
5,621
|
|
|
5,209
|
|
|
412
|
|
|
7.9%
|
Metallic Ores
|
|
|
|
|
2,194
|
|
|
4,986
|
|
|
(2,792)
|
|
|
(56.0%)
|
Minerals & Stone
|
|
|
|
|
5,231
|
|
|
4,807
|
|
|
424
|
|
|
8.8%
|
Petroleum Products
|
|
|
|
|
39
|
|
|
26
|
|
|
13
|
|
|
50.0%
|
Total carloads
|
|
|
|
|
17,508
|
|
|
19,925
|
|
|
(2,417)
|
|
|
(12.1%)
|
|
The decrease in Australian Operations traffic was primarily due to
reduced metallic ores shipments from previously announced closures of
customer iron ore mines.
The table below sets forth U.K./European Operations carload information
for July 2015 by commodity group.
U.K./European Operations:
|
|
|
|
|
July 2015
|
Agricultural Products
|
|
|
|
|
36
|
Coal & Coke
|
|
|
|
|
6,259
|
Intermodal
|
|
|
|
|
85,090
|
Minerals & Stone
|
|
|
|
|
17,173
|
Other
|
|
|
|
|
971
|
Total carloads
|
|
|
|
|
109,529
|
|
Traffic volumes in the U.K./Europe segment include operations from
Freightliner. G&W’s existing European operations are not reported as
freight revenues and therefore are not included in this traffic report.
As a result, there is no traffic information provided for the
comparative period in the prior year for this segment.
About G&W
Genesee & Wyoming owns or leases 120 freight railroads worldwide that
are organized in 11 operating regions with 7,500 employees and more than
2,500 customers.
-
G&W’s nine North American regions serve 41 U.S. states and four
Canadian provinces and include 113 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, the Northern Territory and South Australia and operates the
1,400-mile Tarcoola-to-Darwin rail line.
-
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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