Genesee & Wyoming total traffic in October up 14.2% year-over-year to 84,331 carloads

GREENWICH, Connecticut , November 11, 2011 (press release) – Genesee & Wyoming Inc. (GWI) (NYSE: GWR - News) today reported traffic volumes for October 2011.

GWI’s traffic in October 2011 was 84,331 carloads, an increase of 10,464 carloads, or 14.2 percent, compared with October 2010.

The table below sets forth consolidated carloading information for October 2011 and October 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     October       October        
      2011       2010       % Change
Consolidated:                      
Coal & Coke     17,127       18,809       -8.9%
Minerals & Stone     12,084       10,437       15.8%
Farm & Food Products     9,309       8,321       11.9%
Metals     8,254       6,408       28.8%
Pulp & Paper     7,732       8,067       -4.2%
Intermodal*     5,767       272       NM
Lumber & Forest Products     5,541       5,382       3.0%
Chemicals & Plastics     5,236       4,820       8.6%
Metallic Ores     3,044       910       NM
Petroleum Products     2,579       2,748       -6.1%
Autos & Auto Parts     812       963       -15.7%
Other     6,846       6,730       1.7%
Total carloads     84,331       73,867       14.2%
                       
* - Represents intermodal units      

 
       
Excluding 7,483 carloads from the FreightLink Acquisition(1), which closed December 1, 2010, and 1,213 carloads from the Arizona Eastern Railway (AZER), which closed September 1, 2011, same-railroad traffic in October 2011 increased 1,768 carloads, or 2.4 percent, compared with October 2010. The increase was principally due to a 1,625 carload increase in minerals & stone traffic, primarily due to salt shipments in GWI’s New York/Pennsylvania Region and construction aggregates in GWI’s Ohio Region, as well as a 1,527 carload increase in metals traffic due to steel and scrap shipments in GWI’s Southern Region. These increases were partially offset by a 1,682 carload decrease in coal & coke traffic primarily in GWI’s New York/Pennsylvania and Illinois Regions. All remaining traffic increased by a net 298 carloads.

Carload Reporting for Huron Central Railway

The carloads in this press release include 1,328 carloads in October 2011 and 1,418 carloads in October 2010 from the Huron Central Railway (HCRY). 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 October 2010 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 October 2010 volume by an additional 203 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.
Exhibit

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

      October       October        
      2011       2010       % Change
North America Operations:                      
Coal & Coke     17,127       18,809       -8.9%
Metals     8,254       6,408       28.8%
Pulp & Paper     7,732       8,067       -4.2%
Minerals & Stone     7,439       4,919       51.2%
Lumber & Forest Products     5,541       5,382       3.0%
Chemicals & Plastics     5,236       4,820       8.6%
Farm & Food Products     3,748       4,349       -13.8%
Petroleum Products     2,538       2,748       -7.6%
Metallic Ores     1,083       910       19.0%
Autos & Auto Parts     812       963       -15.7%
Intermodal*     286       272       5.1%
Other     6,846       6,730       1.7%
Total carloads     66,642       64,377       3.5%
                       
* - Represents intermodal units                      

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

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.
      October       October        
      2011       2010       % Change
Australian Operations:                      
Farm & Food Products     5,561       3,972       40.0%
Intermodal*     5,481       -       NM
Minerals & Stone     4,645       5,518       -15.8%
Metallic Ores     1,961       -       NM
Petroleum Products     41       -       NM
Total carloads     17,689       9,490       86.4%
                       
* - Represents intermodal units

© 2017 Business Wire, Inc., All rights reserved.