Genesee & Wyoming's traffic in March down 13.6% year-over-year to 77,046 carloads; pulp and paper carloads fall 2.1%, farm and food products rise 7.4%, chemicals and plastics jump 16.5%

Kendall Sinclair

Kendall Sinclair

Apr 13, 2012 – Business Wire

GREENWICH, Connecticut , April 13, 2012 (press release) – Genesee & Wyoming Inc. (GWI) (NYSE: GWR - News) today reported traffic volumes for March 2012 and the first quarter of 2012.

GWI’s traffic in March 2012 was 77,046 carloads, a decrease of 12,088 carloads, or 13.6 percent, compared with March 2011. GWI’s traffic in the first quarter of 2012 was 222,178 carloads, a decrease of 22,378 carloads, or 9.2 percent, compared to the first quarter of 2011.

The table below sets forth consolidated carloading information for March 2012 and March 2011. 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         March           March          
          2012           2011         % Change
Consolidated:                                
Farm & Food Products         11,655           10,857         7.4%
Coal & Coke         11,354           19,816         -42.7%
Minerals & Stone         10,407           11,452         -9.1%
Metals         8,764           8,551         2.5%
Pulp & Paper         8,236           8,414         -2.1%
Chemicals & Plastics         6,039           5,182         16.5%
Lumber & Forest Products         5,430           5,773         -5.9%
Intermodal*         5,243           5,434         -3.5%
Metallic Ores**         3,024           2,762         9.5%
Petroleum Products         2,708           2,584         4.8%
Autos & Auto Parts         913           1,132         -19.3%
Other         3,273           7,177         -54.4%
Total carloads         77,046           89,134         -13.6%
                                 
* - Represents intermodal units                      
** - Includes carloads and intermodal units        

Excluding 1,310 carloads from the Arizona Eastern Railway (AZER) acquisition, which closed September 1, 2011, and 250 carloads from the Hilton & Albany Railroad, Inc. (HAL), which commenced operations on January 1, 2012, same-railroad traffic in March 2012 decreased 13,648 carloads, or 15.3 percent, compared with March 2011. Coal & coke traffic decreased 8,462 carloads primarily due to lower shipments in GWI’s Illinois, New York/Pennsylvania and Ohio Regions. GWI’s other commodity group traffic decreased 3,905 carloads primarily due to lower overhead coal shipments in GWI’s Ohio Region. Minerals & stone traffic decreased 1,252 carloads primarily due to lower shipments in GWI’s Australia and New York/Pennsylvania Regions. All remaining traffic decreased by a net 29 carloads.

The table below sets forth consolidated carloading information for the first quarter of 2012 and the first quarter of 2011. 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         1st Qtr           1st Qtr          
          2012           2011         % Change
Consolidated:                                
Farm & Food Products         32,727           30,882         6.0%
Coal & Coke         31,999           54,204         -41.0%
Minerals & Stone         30,116           30,727         -2.0%
Metals         26,671           22,540         18.3%
Pulp & Paper         24,776           24,309         1.9%
Chemicals & Plastics         17,046           14,349         18.8%
Lumber & Forest Products         15,838           15,575         1.7%
Intermodal*         13,456           13,718         -1.9%
Petroleum Products         8,031           7,788         3.1%
Metallic Ores**         7,087           6,969         1.7%
Autos & Auto Parts         2,406           2,890         -16.7%
Other         12,025           20,605         -41.6%
Total carloads         222,178           244,556         -9.2%
                                 
* - Represents intermodal units                      
** - Includes carloads and intermodal units        

Excluding 4,028 carloads from AZER and 757 carloads from HAL, same-railroad traffic in the first quarter of 2012 decreased 27,163 carloads, or 11.1 percent, compared with the first quarter of 2011. The traffic decrease was principally due to decreases of 22,205 carloads of coal & coke traffic and 8,638 carloads of other commodity group traffic, partially offset by an increase of 3,188 carloads of metals traffic. All remaining traffic increased by a net 492 carloads. In the first quarter of 2012 Metallic Ores traffic was negatively affected by the closure of a section of track at the northern end of the Adelaide to Darwin line due to the Edith River bridge washout associated with Cyclone Grant. The line was re-opened on February 28, 2012.

Carload Reporting for Metallic Ores Traffic

Effective January 1, 2012, a portion of GWI’s metallic ores commodity group includes intermodal containers as a result of a change in rail logistics and equipment for a customer in GWI’s Australia Region. The impact of this change increased traffic by 532 carloads in March 2012 and 1,264 carloads in the first quarter of 2012.

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 65 railroads organized in 10 regions, with more than 7,600 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.

Exhibit

The table below sets forth North American carloading information for March 2012 and March 2011:

          March         March          
          2012         2011         % Change
North America Operations:                              
Coal & Coke         11,354         19,816         -42.7%
Metals         8,764         8,551         2.5%
Pulp & Paper         8,236         8,414         -2.1%
Minerals & Stone         6,068         5,845         3.8%
Chemicals & Plastics         6,039         5,182         16.5%
Farm & Food Products         5,515         4,830         14.2%
Lumber & Forest Products         5,430         5,773         -5.9%
Petroleum Products         2,668         2,552         4.5%
Autos & Auto Parts         913         1,132         -19.3%
Metallic Ores         795         1,023         -22.3%
Intermodal*         312         370         -15.7%
Other         3,273         7,177         -54.4%
Total carloads         59,367         70,665         -16.0%
                               
* - Represents intermodal units          

The table below sets forth North American carloading information for the first quarter of 2012 and the first quarter of 2011:

          1st Qtr         1st Qtr          
          2012         2011         % Change
North America Operations:                              
Coal & Coke         31,999         54,204         -41.0%
Metals         26,671         22,540         18.3%
Pulp & Paper         24,776         24,309         1.9%
Chemicals & Plastics         17,046         14,349         18.8%
Minerals & Stone         16,280         14,149         15.1%
Farm & Food Products         16,059         14,280         12.5%
Lumber & Forest Products         15,838         15,575         1.7%
Petroleum Products         7,907         7,705         2.6%
Metallic Ores         2,529         2,778         -9.0%
Autos & Auto Parts         2,406         2,890         -16.7%
Intermodal*         720         846         -14.9%
Other         12,025         20,605         -41.6%
Total carloads         174,256         194,230         -10.3%
                               
* - Represents intermodal units          

The table below sets forth Australian carloading information for March 2012 and March 2011:

          March         March          
          2012         2011         % Change
Australian Operations:                              
Farm & Food Products         6,140         6,027         1.9%
Intermodal*         4,931         5,064         -2.6%
Minerals & Stone         4,339         5,607         -22.6%
Metallic Ores**         2,229         1,739         28.2%
Petroleum Products         40         32         25.0%
Total carloads         17,679         18,469         -4.3%
                               
* - Represents intermodal units                    
** - Includes carloads and intermodal units    

The table below sets forth Australian carloading information for the first quarter of 2012 and the first quarter of 2011:

          1st Qtr         1st Qtr          
          2012         2011         % Change
Australian Operations:                              
Farm & Food Products         16,668         16,602         0.4%
Minerals & Stone         13,836         16,578         -16.5%
Intermodal*         12,736         12,872         -1.1%
Metallic Ores**         4,558         4,191         8.8%
Petroleum Products         124         83         49.4%
Total carloads         47,922         50,326         -4.8%
                               
* - Represents intermodal units                    
** - Includes carloads and intermodal units


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