Genesee & Wyoming's September traffic rises 96.4% from a year ago, 7.5% compared with September 2012 carloads pro forma for RailAmerica acquisition; Q3 traffic up 98.9% year-over-year, 6.8% pro forma to 482,823 carloads
Sandy Yang
DARIEN, Connecticut
,
October 11, 2013
(press release)
–
Genesee & Wyoming Inc. (G&W) (GWR) today reported traffic volumes for September 2013 and the third quarter of 2013.
September 2012 % Change September 2013(1) 3rd Qtr 2012 % Change 3rd Qtr 2013(1) September 2012 % Change September 2013(1) 3rd Qtr 2012 % Change 3rd Qtr 2013(1) September September 2013 2012 3rd Qtr 3rd Qtr 2013 2012
Beginning in January 2013, G&W is reporting consolidated traffic volumes including carloads from RailAmerica Inc. (RA) railroads that were previously reported separately. To provide comparative context for 2013 consolidated traffic volumes, G&W is providing supplemental 2012 carload information on a pro forma basis as though the RA railroads were owned by G&W on January 1, 2012. In addition, G&W has amended RA’s 2012 carload information to conform with G&W’s reporting methodology.
G&W’s traffic in September 2013 was 155,650 carloads, an increase of 76,411 carloads, or 96.4%, compared to G&W’s traffic in September 2012, and an increase of 10,875 carloads, or 7.5%, compared to total September 2012 carloads pro forma for the RA acquisition. G&W’s traffic in the third quarter of 2013 was 482,823 carloads, an increase of 240,040 carloads, or 98.9%, compared to G&W’s traffic in the third quarter of 2012, and an increase 30,630 carloads, or 6.8%, compared to total third quarter of 2012 carloads pro forma for the RA acquisition.
The table below sets forth consolidated summary carload information for September 2013 and September 2012:
Traffic from G&W’s Other commodity group increased 2,786 carloads primarily due to detoured Class I trains in G&W’s Central Region. Metals traffic increased 1,720 carloads primarily due to increased shipments in G&W’s Northeast and Southern regions. Pulp & paper traffic increased 1,511 carloads due to increased shipments across all G&W regions. Metallic ores traffic increased 1,366 carloads due to increased iron ore shipments in G&W’s Australia Region. All remaining traffic increased by a net 3,492 carloads.
Consolidated G&W
G&W
RA
Pro Forma(2)
G&W
Pro Forma(2)
Coal & Coke
28,850
18,090
11,739
29,829
59.5%
-3.3%
Minerals & Stone
19,021
10,987
6,836
17,823
73.1%
6.7%
Metals
15,268
7,675
5,873
13,548
98.9%
12.7%
Agricultural Products
14,816
5,183
9,534
14,717
185.9%
0.7%
Pulp & Paper
14,529
8,376
4,642
13,018
73.5%
11.6%
Chemicals & Plastics
12,512
5,342
7,036
12,378
134.2%
1.1%
Lumber & Forest Products
10,888
6,195
4,263
10,458
75.8%
4.1%
Petroleum Products
7,969
2,286
4,440
6,726
248.6%
18.5%
Intermodal
6,307
6,187
-
6,187
1.9%
1.9%
Metallic Ores
6,061
3,965
730
4,695
52.9%
29.1%
Food or Kindred Products
4,591
1,017
3,479
4,496
351.4%
2.1%
Waste
4,005
1,658
1,574
3,232
141.6%
23.9%
Autos & Auto Parts
3,099
904
1,816
2,720
242.8%
13.9%
Other
7,734
1,374
3,574
4,948
462.9%
56.3%
Total carloads
155,650
79,239
65,536
144,775
96.4%
7.5%
(1) Total carloads from G&W and RA
(2) Pro forma as though G&W had acquired RailAmerica on January 1, 2012
The table below sets forth consolidated summary carload information for the third quarter of 2013 and the third quarter of 2012:
Metals traffic increased 5,944 carloads primarily due to increased shipments in G&W’s Southern and Northeast regions. Metallic ores traffic increased 5,303 carloads primarily due to increased iron ore shipments in G&W’s Australia Region. Petroleum products traffic increased 4,825 carloads primarily due to increased shipments of crude oil and liquid petroleum gases in G&W’s Pacific, Southern and Canada regions. Agricultural products traffic increased 3,645 carloads primarily due to increased shipments in G&W’s Australia and Southern regions, partially offset by decreased shipments in G&W’s Pacific Region. Coal & coke traffic decreased 3,947 carloads primarily due to decreased shipments in G&W’s Mountain West and Central regions, partially offset by increased shipments in G&W’s Midwest Region. All remaining traffic increased by a net 14,860 carloads.
Consolidated G&W
G&W
RA
Pro Forma(2)
G&W
Pro Forma(2)
Coal & Coke
84,635
52,978
35,604
88,582
59.8%
-4.5%
Minerals & Stone
58,132
32,843
22,660
55,503
77.0%
4.7%
Agricultural Products
54,085
20,291
30,149
50,440
166.5%
7.2%
Metals
46,562
22,077
18,541
40,618
110.9%
14.6%
Pulp & Paper
44,630
27,213
14,647
41,860
64.0%
6.6%
Chemicals & Plastics
40,796
17,114
22,336
39,450
138.4%
3.4%
Lumber & Forest Products
33,143
18,596
13,494
32,090
78.2%
3.3%
Petroleum Products
25,645
6,704
14,116
20,820
282.5%
23.2%
Intermodal
20,013
17,754
-
17,754
12.7%
12.7%
Metallic Ores
19,412
11,707
2,402
14,109
65.8%
37.6%
Food or Kindred Products
13,476
3,007
11,388
14,395
348.2%
-6.4%
Waste
12,048
5,612
5,375
10,987
114.7%
9.7%
Autos & Auto Parts
9,024
2,574
5,026
7,600
250.6%
18.7%
Other
21,222
4,313
13,672
17,985
392.0%
18.0%
Total carloads
482,823
242,783
209,410
452,193
98.9%
6.8%
(1) Total carloads from G&W and RA
(2) Pro forma as though G&W had acquired RailAmerica on January 1, 2012
Carload Reporting for RailAmerica Inc. Traffic
September 2012 and the third quarter of 2012 carloads from RailAmerica Inc. railroads include eliminations of 1,575 and 4,947 carloads, respectively, compared to RailAmerica’s historically reported figures to remove duplication of traffic that interchanges with another owned railroad. This elimination conforms with G&W’s reporting policy. Also, starting in January 2013, G&W has re-allocated certain products within the reported commodity groups. The carload information included in this release presents both 2013 and 2012 on a consistent basis for these changes.
Other
Historically, G&W 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.
About G&W
G&W owns and operates short line and regional freight railroads in the United States, Australia, Canada, the Netherlands and Belgium. In addition, G&W operates the 1,400-mile Tarcoola to Darwin rail line, which links the Port of Darwin with the Australian interstate rail network in South Australia. Operations currently include 111 railroads organized in 11 regions, with nearly 15,000 miles of owned and leased track, 4,600 employees and over 2,000 customers. We provide rail service at 36 ports in North America, Australia and Europe and perform contract coal loading and railcar switching for industrial customers.
For more information, visit gwrr.com.
Exhibit
The table below sets forth North American carloading information for September 2013 and September 2012:
The table below sets forth North American carloading information for the third quarter of 2013 and the third quarter of 2012:
North American Operations:
G&W
RA
Pro Forma(2)
G&W
Pro Forma(2)
Coal & Coke
28,850
18,090
11,739
29,829
59.5%
-3.3%
Metals
15,268
7,675
5,873
13,548
98.9%
12.7%
Pulp & Paper
14,529
8,376
4,642
13,018
73.5%
11.6%
Minerals & Stone
14,248
6,002
6,836
12,838
137.4%
11.0%
Chemicals & Plastics
12,512
5,342
7,036
12,378
134.2%
1.1%
Agricultural Products
11,925
2,651
9,534
12,185
349.8%
-2.1%
Lumber & Forest Products
10,888
6,195
4,263
10,458
75.8%
4.1%
Petroleum Products
7,949
2,255
4,440
6,695
252.5%
18.7%
Food or Kindred Products
4,591
1,017
3,479
4,496
351.4%
2.1%
Waste
4,005
1,658
1,574
3,232
141.6%
23.9%
Autos & Auto Parts
3,099
904
1,816
2,720
242.8%
13.9%
Metallic Ores
1,430
1,026
730
1,756
39.4%
-18.6%
Intermodal
811
321
-
321
152.6%
152.6%
Other
7,734
1,374
3,574
4,948
462.9%
56.3%
Total carloads
137,839
62,886
65,536
128,422
119.2%
7.3%
(1) Total carloads from G&W and RA
(2) Pro forma as though G&W had acquired RailAmerica on January 1, 2012
North American Operations:
G&W
RA
Pro Forma(2)
G&W
Pro Forma(2)
Coal & Coke
84,635
52,978
35,604
88,582
59.8%
-4.5%
Metals
46,562
22,077
18,541
40,618
110.9%
14.6%
Pulp & Paper
44,630
27,213
14,647
41,860
64.0%
6.6%
Minerals & Stone
43,923
18,063
22,660
40,723
143.2%
7.9%
Chemicals & Plastics
40,796
17,114
22,336
39,450
138.4%
3.4%
Agricultural Products
40,188
9,841
30,149
39,990
308.4%
0.5%
Lumber & Forest Products
33,143
18,596
13,494
32,090
78.2%
3.3%
Petroleum Products
25,566
6,605
14,116
20,721
287.1%
23.4%
Food or Kindred Products
13,476
3,007
11,388
14,395
348.2%
-6.4%
Waste
12,048
5,612
5,375
10,987
114.7%
9.7%
Autos & Auto Parts
9,024
2,574
5,026
7,600
250.6%
18.7%
Metallic Ores
4,780
3,119
2,402
5,521
53.3%
-13.4%
Intermodal
2,777
1,056
-
1,056
163.0%
163.0%
Other
21,222
4,313
13,672
17,985
392.0%
18.0%
Total carloads
422,770
192,168
209,410
401,578
120.0%
5.3%
(1) Total carloads from G&W and RA
(2) Pro forma as though G&W had acquired RailAmerica on January 1, 2012
The table below sets forth Australian carloading information for September 2013 and September 2012:
Australian Operations:
% Change
Intermodal
5,496
5,866
-6.3%
Minerals & Stone
4,773
4,985
-4.3%
Metallic Ores
4,631
2,939
57.6%
Agricultural Products
2,891
2,532
14.2%
Petroleum Products
20
31
-35.5%
Total carloads
17,811
16,353
8.9%
The table below sets forth Australian carloading information for the third quarter of 2013 and the third quarter of 2012:
Australian Operations:
% Change
Intermodal
17,236
16,698
3.2%
Metallic Ores
14,632
8,588
70.4%
Minerals & Stone
14,209
14,780
-3.9%
Agricultural Products
13,897
10,450
33.0%
Petroleum Products
79
99
-20.2%
Total carloads
60,053
50,615
18.6%
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