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Genesee & Wyoming Reports Traffic for March 2019

Montag, 15.04.19 23:31
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DARIEN, Conn. –

Genesee & Wyoming Inc. (G&W) (NYSE:GWR) today reported traffic volumes for March 2019.

G&W’s total traffic in March 2019 was 256,647 carloads, a decrease of 23,265 carloads, or 8.3%, compared with March 2018. G&W’s same railroad traffic in March 2019 decreased 10,958 carloads, or 4.1%, compared with G&W’s traffic in March 2018, 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 (Goderich-Exeter Railway (GEXR) and Southern Ontario Railway (SOR)) in the fourth quarter of 2018.

G&W’s traffic in the first quarter of 2019 was 761,513 carloads, a decrease of 49,800 carloads, or 6.1%, compared with the first quarter of 2018. G&W’s same railroad traffic in the first quarter of 2019 decreased 12,208 carloads, or 1.6%, compared with the first quarter of 2018, excluding carloads from ERS, which was sold in June 2018, and short line lease expirations in Canada (GEXR and SOR) in the fourth quarter of 2018. G&W’s North American traffic and operations were affected by severe winter weather in the U.S. and Canada and flooding in the U.S. in the first quarter of 2019.

The table below sets forth summary total carloads by segment.

Segment      

March
2019

   

March
2018

   

Total
Change

   

Total %
Change

   

Same
Railroad %
Change(1)

North American Operations 134,064 142,470 (8,406) (5.9%) (4.0%)
Australian Operations(2) 45,188 50,901 (5,713) (11.2%) (11.2%)
U.K./European Operations 77,395 86,541 (9,146) (10.6%) 0.5%
Total G&W Operations 256,647 279,912 (23,265) (8.3%) (4.1%)
(1) Excludes 2,811 carloads in March 2018 from short line leases in Canada (GEXR and SOR), which expired in the fourth quarter of 2018 and 9,496 carloads in March 2018 from ERS, which was sold in June 2018.
(2) 51.1% owned by G&W.
 

Highlights by Segment

  • North American Operations: Traffic in March 2019 was 134,064 carloads, a decrease of 5.9% compared with March 2018. Same railroad traffic in March 2019 decreased 4.0% compared with March 2018, excluding short line lease expirations in Canada, primarily due to decreased coal & coke and other commodity group traffic.
  • Australian Operations: Traffic in March 2019 was 45,188 carloads, a decrease of 11.2% compared with March 2018, primarily due to decreased agricultural products 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 March 2019 was 77,395 carloads, a decrease of 10.6% compared with March 2018. Same railroad traffic in March 2019 increased 0.5% compared with March 2018, excluding traffic from ERS, primarily due to increased petroleum products traffic in the U.K., partially offset by decreased minerals & stone traffic in U.K.

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

North American Operations:      

March
2019

   

March
2018

   

Total
Change

   

Total %
Change

   

Same
Railroad %
Change(1)

Agricultural Products 19,732 18,896 836 4.4% 7.1%
Autos & Auto Parts 3,134 3,156 (22) (0.7%) 4.8%
Chemicals & Plastics 14,465 15,319 (854) (5.6%) (1.9%)
Coal & Coke 15,372 19,572 (4,200) (21.5%) (21.5%)
Food & Kindred Products 4,692 5,313 (621) (11.7%) (8.8%)
Intermodal 1,784 1,181 603 51.1% 51.1%
Lumber & Forest Products 11,479 12,672 (1,193) (9.4%) (8.8%)
Metallic Ores 1,190 1,459 (269) (18.4%) (18.3%)
Metals 13,031 12,667 364 2.9% 6.0%
Minerals & Stone 17,021 17,550 (529) (3.0%) (1.2%)
Petroleum Products 8,689 8,199 490 6.0% 9.6%
Pulp & Paper 13,633 14,442 (809) (5.6%) (5.5%)
Waste 4,256 4,277 (21) (0.5%) 0.2%
Other 5,586 7,767 (2,181) (28.1%) (24.9%)
Total Carloads 134,064 142,470 (8,406) (5.9%) (4.0%)
(1) Excludes 2,811 carloads in March 2018 from short line leases in Canada (GEXR and SOR), which expired in the fourth quarter of 2018.
 

The following highlights relate to North American same railroad traffic:

  • Coal & coke traffic decreased 4,200 carloads, or 21.5%, primarily due to decreased shipments in G&W’s Midwest region largely due to delayed shipments associated with flooding.
  • Other commodity group traffic decreased 1,850 carloads, or 24.9%, primarily due to decreased empty car shipments in most G&W regions.
  • All remaining traffic increased by a net 455 carloads.
  • In addition to coal traffic, severe winter weather and flooding negatively affected traffic in minerals & stone, lumber & forest products and pulp & paper commodities.

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

Australian Operations(1):      

March
2019

   

March
2018

   

Total
Change

   

Total %
Change

Agricultural Products 1,741 4,829 (3,088) (63.9%)
Coal & Coke 31,435 34,508 (3,073) (8.9%)
Intermodal 4,166 4,463 (297) (6.7%)
Metallic Ores 1,968 1,866 102 5.5%
Minerals & Stone 5,851 5,218 633 12.1%
Petroleum Products 27 17 10 58.8%
Total Carloads 45,188 50,901 (5,713) (11.2%)
(1) 51.1% owned by G&W.
 
  • Agricultural products traffic decreased 3,088 carloads, or 63.9%, primarily due to a weaker 2018-2019 South Australia grain harvest.
  • Coal & coke traffic decreased 3,073 carloads, or 8.9%, primarily due to decreased shipments in the Hunter Valley.
  • All remaining traffic increased by a net 448 carloads.

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

U.K./European Operations:      

March
2019

   

March
2018

   

Total
Change

   

Total %
Change

   

Same
Railroad %
Change(1)

Agricultural Products 110 318 (208) (65.4%) (65.4%)
Coal & Coke 2,284 1,843 441 23.9% 23.9%
Intermodal 58,582 67,590 (9,008) (13.3%) 0.8%
Minerals & Stone 15,360 16,790 (1,430) (8.5%) (8.5%)
Petroleum Products 1,059 - 1,059 NM NM
Total Carloads 77,395 86,541 (9,146) (10.6%) 0.5%
(1) Excludes 9,496 carloads in March 2018 from ERS, which was sold in June 2018.
 

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

  • Petroleum products traffic increased 1,059 due to new jet fuel shipments in the U.K.
  • Minerals & stone traffic decreased 1,430 carloads, or 8.5%, primarily due to decreased shipments in the U.K. in part due to a 3rd party derailment on the open access rail network.
  • All remaining traffic increased by a net 721 carloads.

First Quarter of 2019

The table below sets forth summary total carloads by segment.

Segment       Q1 2019     Q1 2018    

Total
Change

   

Total %
Change

   

Same
Railroad %
Change(1)

North American Operations 393,857 406,013 (12,156) (3.0%) (1.2%)
Australian Operations(2) 137,378 143,515 (6,137) (4.3%) (4.3%)
U.K./European Operations 230,278 261,785 (31,507) (12.0%) (0.6%)
Total G&W Operations 761,513 811,313 (49,800) (6.1%) (1.6%)
(1) Excludes 7,466 carloads in Q1 2018 from short line leases in Canada (GEXR and SOR), which expired in the fourth quarter of 2018 and 30,126 carloads in Q1 2018 from ERS, which was sold in June 2018.
(2) 51.1% owned by G&W.
 

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

North American Operations:       Q1 2019     Q1 2018    

Total
Change

   

Total %
Change

   

Same
Railroad %
Change(1)

Agricultural Products 54,255 53,764 491 0.9% 3.4%
Autos & Auto Parts 8,419 8,716 (297) (3.4%) 0.6%
Chemicals & Plastics 40,928 43,342 (2,414) (5.6%) (2.0%)
Coal & Coke 54,070 61,966 (7,896) (12.7%) (12.7%)
Food & Kindred Products 14,365 15,183 (818) (5.4%) (2.6%)
Intermodal 3,809 3,084 725 23.5% 23.5%
Lumber & Forest Products 32,945 36,250 (3,305) (9.1%) (8.6%)
Metallic Ores 3,602 4,396 (794) (18.1%) (18.0%)
Metals 37,250 35,238 2,012 5.7% 9.3%
Minerals & Stone 47,505 47,696 (191) (0.4%) 1.4%
Petroleum Products 27,068 25,660 1,408 5.5% 9.2%
Pulp & Paper 41,313 41,357 (44) (0.1%) 0.1%
Waste 12,974 11,981 993 8.3% 9.0%
Other 15,354 17,380 (2,026) (11.7%) (8.7%)
Total Carloads 393,857 406,013 (12,156) (3.0%) (1.2%)
(1) Excludes 7,466 carloads in Q1 2018 from short line leases in Canada (GEXR and SOR), which expired in the fourth quarter of 2018.
 

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

Australian Operations(1):       Q1 2019     Q1 2018    

Total
Change

   

Total %
Change

Agricultural Products 4,260 13,112 (8,852) (67.5%)
Coal &

Quelle: Business Wire



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