Market Overview

Genesee & Wyoming Inc. Reports Traffic for November 2011

Share:
GREENWICH, Conn.--(BUSINESS WIRE)--

Genesee & Wyoming Inc. (GWI) (NYSE: GWR) today reported traffic volumes for November 2011.

GWI's traffic in November 2011 was 80,454 carloads, an increase of 7,089 carloads, or 9.7 percent, compared with November 2010. GWI's traffic in the fourth quarter of 2011 through November was 164,785 carloads, an increase of 17,553 carloads, or 11.9 percent, compared to the fourth quarter of 2010 through November.

The table below sets forth consolidated carloading information for November 2011 and November 2010. Additional carload information for GWI's North American and Australian operations is included as an exhibit to this press release.

                           
Genesee & Wyoming Inc.
by Commodity Group November November
2011 2010 % Change  
Consolidated:
Coal & Coke 15,201 18,117 -16.1 %
Minerals & Stone 11,822 11,060 6.9 %
Farm & Food Products 9,322 9,020 3.3 %
Pulp & Paper 7,617 7,516 1.3 %
Metals 7,396 5,554 33.2 %
Intermodal* 5,733 268 NM
Chemicals & Plastics 5,413 5,009 8.1 %
Lumber & Forest Products 4,922 4,770 3.2 %
Metallic Ores 3,241 946 NM
Petroleum Products 2,606 2,608 -0.1 %
Autos & Auto Parts 742 860 -13.7 %
Other 6,439 7,637 -15.7 %
Total carloads 80,454 73,365 9.7 %
 
* - Represents intermodal units
 

Excluding 7,691 carloads from the FreightLink Acquisition(1), which closed December 1, 2010, and 1,307 carloads from the Arizona Eastern Railway (AZER), which closed September 1, 2011, same-railroad traffic in November 2011 decreased 1,909 carloads, or 2.6 percent, compared with November 2010. The decrease was principally due to a 2,916 carload decrease in coal & coke traffic, primarily in GWI's Illinois Region, and a 1,198 carload decrease in GWI's other commodity group traffic, primarily due to decreased overhead coal shipments in GWI's Ohio Region. These decreases were partially offset by a 1,483 carload increase in metals traffic due to steel and scrap shipments in GWI's Southern Region. All remaining traffic increased by a net 722 carloads.

The table below sets forth consolidated carloading information for the fourth quarter of 2011 through November and the fourth quarter of 2010 through November. Additional carload information for GWI's North American and Australian operations is included as an exhibit to this press release.

                           
Genesee & Wyoming Inc.
by Commodity Group QTD Nov QTD Nov
2011 2010 % Change  
Consolidated:
Coal & Coke 32,328 36,926 -12.5 %
Minerals & Stone 23,906 21,497 11.2 %
Farm & Food Products 18,631 17,341 7.4 %
Metals 15,650 11,962 30.8 %
Pulp & Paper 15,349 15,583 -1.5 %
Intermodal* 11,500 540 NM
Chemicals & Plastics 10,649 9,829 8.3 %
Lumber & Forest Products 10,463 10,152 3.1 %
Metallic Ores 6,285 1,856 NM
Petroleum Products 5,185 5,356 -3.2 %
Autos & Auto Parts 1,554 1,823 -14.8 %
Other 13,285 14,367 -7.5 %
Total carloads 164,785 147,232 11.9 %
 
* - Represents intermodal units
 

Excluding 15,174 carloads from the FreightLink Acquisition(1) and 2,520 carloads from AZER, same-railroad traffic in the fourth quarter of 2011 through November decreased 141 carloads, or 0.1 percent, compared with the fourth quarter of 2010 through November. The traffic decrease was principally due to a decrease of 4,598 carloads of coal & coke traffic, partially offset by an increase of 3,010 carloads of metals traffic. All remaining traffic increased by a net 1,447 carloads.

Carload Reporting for Huron Central Railway

The carloads in this press release include traffic from the Huron Central Railway (HCRY) as follows: 1,426 carloads in November 2011, 1,292 carloads in November 2010, 2,754 carloads in the fourth quarter of 2011 through November and 2,710 carloads in the fourth quarter of 2010 through November. On June 15, 2009, GWI announced its intent to discontinue operations of HCRY. After negotiations with certain customers and government entities, HCRY entered into an interim agreement to continue operations. Because of the nature of the temporary agreement, during this interim period, which lasted from August 15, 2009 through December 31, 2010, GWI did not include HCRY's carloads in its monthly carloading press release. On January 1, 2011, HCRY started operating under a new agreement with certain customers and GWI resumed including HCRY traffic in its monthly carloading press release. To facilitate comparison to the prior year in this press release, GWI has included HCRY carloads from November 2010 and the fourth quarter of 2010 through November which were not previously included in the press release for the same period in 2010.

Carload Reporting After FreightLink Acquisition

Since acquiring FreightLink, GWI is reporting two new commodity groups, Intermodal and Metallic Ores. Intermodal units included in freight revenues are reported consistent with the Association of American Railroads (AAR) convention. Previously, Intermodal traffic was reported on a carload basis and included in the Other commodity group. The change in reporting intermodal traffic on a unit basis rather than on a carload basis increases previously reported November 2010 volume by an additional 212 carloads and the fourth quarter of 2010 through November by an additional 415 carloads. Metallic Ores traffic had previously been included in three commodity groups: Coal, Coke & Ores, Minerals & Stone and Metals commodity groups.

Historically, GWI has found that carload information may be indicative of freight revenues on its railroads, but may not be indicative of total revenues, operating expenses, operating income or net income. Car movements related to railcar switching, including activities at port terminals, are excluded from our carload information as the resulting revenues are classified as non-freight.

GWI owns and operates short line and regional freight railroads and provides railcar switching services in the United States, Australia, Canada, the Netherlands and Belgium. In addition, we operate the Tarcoola to Darwin rail line, which links the Port of Darwin with the Australian interstate rail network in South Australia. Operations currently include 64 railroads organized in 10 regions, with more than 7,500 miles of owned and leased track and approximately 1,400 additional miles under track access arrangements. We provide rail service at 17 ports in North America and Europe and perform contract coal loading and railcar switching for industrial customers.

(1) On December 1, 2010 GWI purchased certain assets from FreightLink Pty Ltd (receivers and managers appointed) (FL), Asia Pacific Transport Pty Ltd (receivers and managers appointed) (APT) and the other APT joint venture sellers (together with FL and APT, “FreightLink Acquisition” or "FreightLink")

Exhibit

The table below sets forth North American carloading information for November 2011 and November 2010:

                           
November November
2011 2010 % Change  
North America Operations:
Coal & Coke 15,201 18,117 -16.1 %
Pulp & Paper 7,617 7,516 1.3 %
Metals 7,396 5,554 33.2 %
Minerals & Stone 7,380 5,818 26.8 %
Chemicals & Plastics 5,413 5,009 8.1 %
Lumber & Forest Products 4,922 4,770 3.2 %
Farm & Food Products 3,927 4,845 -18.9 %
Petroleum Products 2,568 2,608 -1.5 %
Metallic Ores 1,095 946 15.8 %
Autos & Auto Parts 742 860 -13.7 %
Intermodal* 226 268 -15.7 %
Other 6,439 7,637 -15.7 %
Total carloads 62,926 63,948 -1.6 %
 
* - Represents intermodal units
 

The table below sets forth North American carloading information for the fourth quarter of 2011 through November and the fourth quarter of 2010 through November:

                           
QTD Nov QTD Nov
2011 2010 % Change
North America Operations:
Coal & Coke 32,328 36,926 -12.5%
Metals 15,650 11,962 30.8%
Pulp & Paper 15,349 15,583 -1.5%
Minerals & Stone 14,819 10,737 38.0%
Chemicals & Plastics 10,649 9,829 8.3%
Lumber & Forest Products 10,463 10,152 3.1%
Farm & Food Products 7,675 9,194 -16.5%
Petroleum Products 5,106 5,356 -4.7%
Metallic Ores 2,178 1,856 17.3%
Autos & Auto Parts 1,554 1,823 -14.8%
Intermodal* 512 540 -5.2%
Other 13,285 14,367 -7.5%
Total carloads 129,568 128,325 1.0%
 
* - Represents intermodal units
 

The table below sets forth Australian carloading information for November 2011 and November 2010:

                           
November November
2011 2010 % Change  
Australian Operations:
Intermodal* 5,507 - NM
Farm & Food Products 5,395 4,175 29.2 %
Minerals & Stone 4,442 5,242 -15.3 %
Metallic Ores 2,146 - NM
Petroleum Products 38 - NM
Total carloads 17,528 9,417 86.1 %
 
* - Represents intermodal units
 

The table below sets forth Australian carloading information for the fourth quarter of 2011 through November and the fourth quarter of 2010 through November:

                           
QTD Nov QTD Nov
2011 2010 % Change  
Australian Operations:
Intermodal* 10,988 - NM
Farm & Food Products 10,956 8,147 34.5 %
Minerals & Stone 9,087 10,760 -15.5 %
Metallic Ores 4,107 - NM
Petroleum Products 79 - NM
Total carloads 35,217 18,907 86.3 %
 
* - Represents intermodal units
 

Genesee & Wyoming Inc.
Matthew O. Walsh, 1-203-629-3722
Senior Vice President – Corporate Development and Treasurer
Web Site: http://www.gwrr.com

View Comments and Join the Discussion!