Genesee & Wyoming Inc. (G&W) GWR today reported traffic volumes for September 2018.
G&W's total traffic in September 2018 was 257,723 carloads, a decrease of 1,793 carloads, or 0.7%, compared with September 2017. G&W's same railroad traffic in September 2018 increased 8,293 carloads, or 3.3%, compared with G&W's traffic in September 2017, excluding carloads from G&W's former Continental European intermodal business (ERS), which was sold in June 2018.
G&W's traffic in the third quarter of 2018 was 838,919 carloads, an increase of 24,791 carloads, or 3.0%, compared with the third quarter of 2017. G&W's same railroad traffic in the third quarter of 2018 increased 56,030 carloads, or 7.2%, compared with the third quarter of 2017, excluding carloads from ERS.
The table below sets forth summary total carloads by segment.
| Segment | Sep 2018 | Sep 2017 | Change | % Change | |||||||||
| North American Operations | 138,839 | 132,654 | 6,185 | 4.7% | |||||||||
| Australian Operations(1) | 41,453 | 31,552 | 9,901 | 31.4% | |||||||||
| U.K./European Operations | 77,431 | 95,310 | (17,879) | (18.8%) | |||||||||
| Total G&W Operations | 257,723 | 259,516 | (1,793) | (0.7%) | |||||||||
| Carloads From Divested Operations(2) | 0 | 10,086 | (10,086) | NM | |||||||||
| Same Railroad Carloads | 257,723 | 249,430 | 8,293 | 3.3% |
| (1) | 51.1% owned by G&W. | |
| (2) | Total carloads from ERS, which was sold in June 2018. | |
Highlights by Segment
- North American Operations: Traffic in September 2018 was 138,839 carloads, an increase of 4.7% compared with September 2017, primarily due to increases across most commodity groups, including coal & coke and metals.
- Australian Operations: Traffic in September 2018 was 41,453 carloads, an increase of 31.4% compared with September 2017, primarily due to increased coal & coke and minerals & stone traffic, partially offset by decreased 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 September 2018 was 77,431 carloads, a decrease of 18.8% compared with September 2017. Excluding traffic from ERS, same railroad traffic in September 2018 was 77,431 carloads, a decrease of 9.1% compared with same railroad traffic in September 2017 of 85,224 carloads, primarily due to decreased intermodal traffic in the U.K.
The table below sets forth North American Operations carload information by commodity group.
| North American Operations: | Sep 2018 | Sep 2017 | Change | % Change | |||||||||
| Agricultural Products | 16,509 | 15,956 | 553 | 3.5% | |||||||||
| Autos & Auto Parts | 2,798 | 3,662 | (864) | (23.6%) | |||||||||
| Chemicals & Plastics | 13,909 | 14,167 | (258) | (1.8%) | |||||||||
| Coal & Coke | 21,547 | 18,718 | 2,829 | 15.1% | |||||||||
| Food & Kindred Products | 5,008 | 4,654 | 354 | 7.6% | |||||||||
| Intermodal | 2,021 | 1,013 | 1,008 | 99.5% | |||||||||
| Lumber & Forest Products | 11,786 | 11,904 | (118) | (1.0%) | |||||||||
| Metallic Ores | 1,445 | 1,514 | (69) | (4.6%) | |||||||||
| Metals | 13,075 | 11,546 | 1,529 | 13.2% | |||||||||
| Minerals & Stone | 18,024 | 19,078 | (1,054) | (5.5%) | |||||||||
| Petroleum Products | 8,810 | 7,693 | 1,117 | 14.5% | |||||||||
| Pulp & Paper | 13,564 | 13,414 | 150 | 1.1% | |||||||||
| Waste | 4,850 | 4,307 | 543 | 12.6% | |||||||||
| Other | 5,493 | 5,028 | 465 | 9.2% | |||||||||
| Total Carloads | 138,839 | 132,654 | 6,185 | 4.7% |
- Coal & coke traffic increased 2,829 carloads, or 15.1%, primarily due to increased shipments of steam coal in G&W's Midwest Region.
- Metals traffic increased 1,529 carloads, or 13.2%, primarily due to increased finished steel shipments in G&W's Southern Region.
- All remaining traffic increased by a net 1,827 carloads.
The table below sets forth carload information for G&W's 51.1% owned Australian Operations by commodity group.
| Australian Operations(1): | Sep 2018 | Sep 2017 | Change | % Change | |||||||||
| Agricultural Products | 779 | 3,777 | (2,998) | (79.4%) | |||||||||
| Coal & Coke | 28,090 | 19,799 | 8,291 | 41.9% | |||||||||
| Intermodal | 4,847 | 4,877 | (30) | (0.6%) | |||||||||
| Metallic Ores | 2,354 | 2,190 | 164 | 7.5% | |||||||||
| Minerals & Stone | 5,357 | 881 | 4,476 | NM | |||||||||
| Petroleum Products | 26 | 28 | (2) | (7.1%) | |||||||||
| Total Carloads | 41,453 | 31,552 | 9,901 | 31.4% |
| (1) | 51.1% owned by G&W. | |
- Coal & coke traffic increased 8,291, or 41.9%, primarily as traffic from August 2017 through December 2017 was negatively impacted by industrial action at Hunter Valley coal mines. Note coal traffic in September 2018 was adversely affected by a third-party derailment on the open access network as well as a typhoon in Japan that temporarily reduced coal shipments.
- Minerals & stone traffic increased 4,476 carloads, primarily as gypsum traffic from August 2017 through September 2017 was negatively impacted by an outage at a customer port facility.
- Agricultural products traffic decreased 2,998 carloads, or 79.4%, primarily due to a weaker 2017-2018 harvest in South Australia.
- All remaining traffic increased by a net 132 carloads.
The table below sets forth U.K./European Operations carload information by commodity group.
| U.K./European Operations: | Sep 2018 | Sep 2017 | Change | % Change | |||||||||
| Agricultural Products | 318 | 305 | 13 | 4.3% | |||||||||
| Coal & Coke | 1,524 | 1,699 | (175) | (10.3%) | |||||||||
| Intermodal | 59,549 | 77,180 | (17,631) | (22.8%) | |||||||||
| Minerals & Stone | 15,860 | 16,126 | (266) | (1.6%) | |||||||||
| Petroleum Products | 180 | 0 | 180 | NM | |||||||||
| Total Carloads | 77,431 | 95,310 | (17,879) | (18.8%) | |||||||||
| Carloads From Divested Operations(1) | 0 | 10,086 | (10,086) | NM | |||||||||
| Same Railroad Carloads | 77,431 | 85,224 | (7,793) | (9.1%) |
| (1) | Total carloads from ERS, which was sold in June 2018. | |
The following highlights relate to U.K./European same railroad traffic.
- Intermodal traffic in the U.K. decreased 7,545 carloads, or 11.2%.
- All remaining traffic decreased by a net 248 carloads.
Third Quarter of 2018
The table below sets forth summary total carloads by segment.
| Segment | Q3 2018 | Q3 2017 | Change | % Change | |||||||||
| North American Operations | 446,219 | 407,697 | 38,522 | 9.4% | |||||||||
| Australian Operations(1) | 151,318 | 123,651 | 27,667 | 22.4% | |||||||||
| U.K./European Operations | 241,382 | 282,780 | (41,398) | (14.6%) | |||||||||
| Total G&W Operations | 838,919 | 814,128 | 24,791 | 3.0% | |||||||||
| Carloads From Divested Operations(2) | 0 | 31,239 | (31,239) | NM | |||||||||
| Same Railroad Carloads | 838,919 | 782,889 | 56,030 | 7.2% |
| (1) | 51.1% owned by G&W. | |
| (2) | Total carloads from ERS, which was sold in June 2018. | |
The table below sets forth North American Operations carload information by commodity group.
| North American Operations: | Q3 2018 | Q3 2017 | Change | % Change | |||||||||
| Agricultural Products | 50,989 | 47,588 | 3,401 | 7.1% | |||||||||
| Autos & Auto Parts | 8,724 | 9,728 | (1,004) | (10.3%) | |||||||||
| Chemicals & Plastics | 43,903 | 43,739 | 164 | 0.4% | |||||||||
| Coal & Coke | 70,314 | 60,864 | 9,450 | 15.5% | |||||||||
| Food & Kindred Products | 15,312 | 14,415 | 897 | 6.2% | |||||||||
| Intermodal | 4,922 | 3,145 | 1,777 | 56.5% | |||||||||
| Lumber & Forest Products | 37,328 | 35,846 | 1,482 | 4.1% | |||||||||
| Metallic Ores | 4,655 | 4,667 | (12) | (0.3%) | |||||||||
| Metals | 43,752 | 34,003 | 9,749 | 28.7% | |||||||||
| Minerals & Stone | 60,496 | 57,104 | 3,392 | 5.9% | |||||||||
| Petroleum Products | 26,231 | 24,772 | 1,459 | 5.9% | |||||||||
| Pulp & Paper | 44,403 | 42,244 | 2,159 | 5.1% | |||||||||
| Waste | 15,859 | 14,330 | 1,529 | 10.7% | |||||||||
| Other | 19,331 | 15,252 | 4,079 | 26.7% | |||||||||
| Total Carloads | 446,219 | 407,697 | 38,522 | 9.4% | |||||||||
The table below sets forth carload information for G&W's 51.1% owned Australian Operations by commodity group.
| Australian Operations(1): | Q3 2018 | Q3 2017 | Change | % Change | |||||||||
| Agricultural Products | 6,529 | 13,163 | (6,634) | (50.4%) | |||||||||
| Coal & Coke | 106,809 | 81,142 | 25,667 | 31.6% | |||||||||
| Intermodal | 14,610 | 15,416 | (806) | (5.2%) | |||||||||
| Metallic Ores | 6,464 | 8,354 | (1,890) | (22.6%) | |||||||||
| Minerals & Stone | 16,813 | 5,488 | 11,325 | NM | |||||||||
| Petroleum Products | 93 | 88 | 5 | 5.7% | |||||||||
| Total Carloads | 151,318 | 123,651 | 27,667 | 22.4% |
| (1) | 51.1% owned by G&W. | |
The table below sets forth U.K./European Operations carload information by commodity group.
| U.K./European Operations: | Q3 2018 | Q3 2017 | Change | % Change | |||||||||
| Agricultural Products | 776 | 777 | (1) | (0.1%) | |||||||||
| Coal & Coke | 4,271 | 3,798 | 473 | 12.5% | |||||||||
| Intermodal | 188,002 | 229,059 | (41,057) | (17.9%) | |||||||||
| Minerals & Stone | 48,111 | 49,146 | (1,035) | (2.1%) | |||||||||
| Petroleum Products | 222 | 0 | 222 | NM | |||||||||
| Total Carloads | 241,382 | 282,780 | (41,398) | (14.6%) | |||||||||
| Carloads From Divested Operations(1) | 0 | 31,239 | (31,239) | NM | |||||||||
| Same Railroad Carloads | 241,382 | 251,541 | (10,159) | (4.0%) |
| (1) | Total carloads 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 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/20181016005331/en/
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