Genesee & Wyoming Reports Traffic for February 2013

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Genesee & Wyoming Reports Traffic for February 2013

GREENWICH, Conn.--(BUSINESS WIRE)-- Genesee & Wyoming Inc. (G&W) (NYS: GWR) today reported traffic volumes for February 2013.

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 February 2013 was 140,200 carloads, an increase of 67,955 carloads, or 94.1%, compared to G&W's traffic in February 2012, and an increase of 747 carloads, or 0.5%, compared to total February 2012 carloads pro forma for the RA acquisition. G&W's traffic in the first quarter of 2013 through February was 296,227 carloads, an increase of 151,095 carloads, or 104.1%, compared to G&W's traffic in the first quarter of 2012 through February, and an increase of 14,189 carloads, or 5.0%, compared to total first quarter of 2012 through February carloads pro forma for the RA acquisition.

The tables below set forth consolidated summary carload information for February 2013 and February 2012:

   

February 2012

 

% Change

Consolidated G&W

February

2013(1)

G&W RA 

Pro

Forma(2)

G&W 

Pro

Forma(2)

Coal & Coke23,8159,672 12,397 22,069146.2% 7.9%
Agricultural Products19,26410,91410,49421,40876.5%-10.0%
Minerals & Stone15,8399,7165,76715,48363.0%2.3%
Metals12,9858,9486,01614,96445.1%-13.2%
Chemicals & Plastics12,5685,5557,03712,592126.2%-0.2%
Pulp & Paper12,4598,2054,36712,57251.8%-0.9%
Lumber & Forest Products10,2315,1114,4679,578100.2%6.8%
Petroleum Products8,7292,2184,1696,387293.6%36.7%
Intermodal5,1704,685-4,68510.4%10.4%
Metallic Ores4,6272,3329343,26698.4%41.7%
Food or Kindred Products4,2388073,9394,746425.2%-10.7%
Autos & Auto Parts2,8617921,7432,535261.2%12.9%
Waste2,7111,7081,6973,40558.7%-20.4%
Other4,7031,582 4,181 5,763197.3%-18.4%
Total carloads140,20072,245 67,208 139,45394.1%0.5%
Carloads from New Railroads(3)2,759
Same-railroad carloads137,44172,245 67,208 139,45390.2%-1.4%
(1) Total carloads from G&W and RA
(2) Pro forma as though GWI had acquired RailAmerica on January 1, 2012

(3) Total carloads from rail operations commenced or acquired by G&W and RA in the last 12 months, including Wellsboro & Corning Railroad, Marquette Rail LLC and Columbus & Chattahoochee Railroad, Inc.

 

Excluding 2,759 total carloads from the Wellsboro & Corning Railroad, LLC, which RailAmerica acquired on April 9, 2012, Marquette Rail LLC, which RailAmerica acquired on May 1, 2012, and the Columbus & Chattahoochee Railroad, Inc., which G&W commenced operations on July 1, 2012, pro forma same-railroad traffic decreased 2,012 carloads, or 1.4%, compared to February 2012. Agricultural products traffic decreased 2,251 carloads primarily due to decreased shipments in G&W's Canada region. Metals traffic decreased 2,054 carloads primarily due to decreased shipments in G&W's Southern, Rail Link and Ohio Valley regions. Petroleum products traffic increased 2,208 carloads primarily due to increased shipments of crude oil and liquid propane gases in G&W's Pacific, Mountain West and Canada regions. Coal & coke traffic increased 1,746 carloads primarily due to increased shipments in G&W's Midwest, Mountain West and Northeast Regions, partially offset by a decline in G&W's Central Region. All remaining traffic decreased by a net 1,661 carloads.

The tables below set forth consolidated summary carload information for the first quarter of 2013 through February and the first quarter of 2012 through February:

   

QTD Feb 2012

 

% Change

Consolidated G&W

QTD Feb

2013(1)

G&W RA 

Pro

Forma(2)

G&W 

Pro

Forma(2)

Coal & Coke51,18222,808 24,739 47,547124.4% 7.6%
Agricultural Products40,71220,03322,05742,090103.2%-3.3%
Minerals & Stone32,34219,81811,64131,45963.2%2.8%
Pulp & Paper27,48916,5729,24425,81665.9%6.5%
Metals27,38117,86912,23430,10353.2%-9.0%
Chemicals & Plastics26,99911,46314,32925,792135.5%4.7%
Lumber & Forest Products21,50010,3948,43818,832106.9%14.2%
Petroleum Products18,5944,2918,61012,901333.3%44.1%
Intermodal10,5338,213-8,21328.2%28.2%
Metallic Ores9,7044,0631,9045,967138.8%62.6%
Food or Kindred Products8,7111,5788,0079,585452.0%-9.1%
Waste5,9473,5733,5017,07466.4%-15.9%
Autos & Auto Parts5,3261,4933,3164,809256.7%10.8%
Other9,8072,964 8,886 11,850230.9%-17.2%
Total carloads296,227145,132 136,906 282,038104.1%5.0%
Carloads from New Railroads(3)6,069
Same-railroad carloads290,158145,132 136,906 282,03899.9%2.9%
(1) Total carloads from G&W and RA
(2) Pro forma as though GWI had acquired RailAmerica on January 1, 2012

(3) Total carloads from rail operations commenced or acquired by G&W and RA in the last 12 months, including Wellsboro & Corning Railroad, Marquette Rail LLC and Columbus & Chattahoochee Railroad, Inc.

 

Excluding 6,069 total carloads from the Wellsboro & Corning Railroad, LLC, which RailAmerica acquired on April 9, 2012, Marquette Rail LLC, which RailAmerica acquired on May 1, 2012, and the Columbus & Chattahoochee Railroad, Inc., which G&W commenced operations on July 1, 2012, pro forma same-railroad traffic increased 8,120 carloads, or 2.9%, compared with the first quarter of 2012 through February. The traffic increase was principally due to increases of 5,364 carloads of petroleum products traffic (primarily crude oil and liquid propane gases in G&W's Pacific, Mountain West, Southern and Canada Regions), 3,737 carloads of metallic ores traffic (primarily G&W's Australia Region) and 3,635 carloads of coal & coke traffic (primarily G&W's Midwest Region), partially offset by a decrease of 2,905 carloads of metals traffic (primarily G&W's Canada and Southern Regions). All remaining traffic decreased by a net 1,711 carloads.

Carload Reporting for RailAmerica Inc. Traffic

February 2012 and the first quarter of 2012 through February carloads from RailAmerica Inc. railroads include eliminations of 2,382 and 4,421 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 more than 15,000 miles of owned and leased track, 4,500 employees and over 2,000 customers. We provide rail service at 35 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 February 2013 and February 2012:

   

February 2012

 

% Change

North American Operations:

February

2013(1)

G&W RA 

Pro

Forma(2)

G&W 

Pro

Forma(2)

Coal & Coke23,8159,672 12,397 22,069146.2% 7.9%
Agricultural Products14,0605,30210,49415,796165.2%-11.0%
Metals12,9858,9486,01614,96445.1%-13.2%
Chemicals & Plastics12,5685,5557,03712,592126.2%-0.2%
Pulp & Paper12,4598,2054,36712,57251.8%-0.9%
Minerals & Stone10,9415,2445,76711,011108.6%-0.6%
Lumber & Forest Products10,2315,1114,4679,578100.2%6.8%
Petroleum Products8,7082,1714,1696,340301.1%37.4%
Food or Kindred Products4,2388073,9394,746425.2%-10.7%
Autos & Auto Parts2,8617921,7432,535261.2%12.9%
Waste2,7111,7081,6973,40558.7%-20.4%
Metallic Ores1,4638149341,74879.7%-16.3%
Intermodal684238-238187.4%187.4%
Other4,7031,582 4,181 5,763197.3%-18.4%
Total carloads122,42756,149 67,208 123,357118.0%-0.8%
Carloads from New Railroads(3)2,759
Same-railroad carloads119,66856,149 67,208 123,357113.1%-3.0%
(1) Total carloads from G&W and RA
(2) Pro forma as though GWI had acquired RailAmerica on January 1, 2012

(3) Total carloads from rail operations commenced or acquired by G&W and RA in the last 12 months, including Wellsboro & Corning Railroad, Marquette Rail LLC and Columbus & Chattahoochee Railroad, Inc.

 

The table below sets forth North American carloading information for the first quarter of 2013 through February and the first quarter of 2012 through February:

   

QTD Feb 2012

 

% Change

North American Operations:

QTD Feb

2013(1)

G&W RA 

Pro

Forma(2)

G&W 

Pro

Forma(2)

Coal & Coke51,18222,808 24,739 47,547124.4% 7.6%
Agricultural Products31,0629,50522,05731,562226.8%-1.6%
Pulp & Paper27,48916,5729,24425,81665.9%6.5%
Metals27,38117,86912,23430,10353.2%-9.0%
Chemicals & Plastics26,99911,46314,32925,792135.5%4.7%
Minerals & Stone22,51310,32111,64121,962118.1%2.5%
Lumber & Forest Products21,50010,3948,43818,832106.9%14.2%
Petroleum Products18,5534,2078,61012,817341.0%44.8%
Food or Kindred Products8,7111,5788,0079,585452.0%-9.1%
Waste5,9473,5733,5017,07466.4%-15.9%
Autos & Auto Parts5,3261,4933,3164,809256.7%10.8%
Metallic Ores3,2101,7341,9043,638 Read Full Story

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