Genesee & Wyoming Inc. Reports Traffic for November 2012

Genesee & Wyoming Inc. Reports Traffic for November 2012

GREENWICH, Conn.--(BUSINESS WIRE)-- Genesee & Wyoming Inc. (GWI) (NYS: GWR) today reported traffic volumes for November 2012.

GWI's traffic in November 2012 was 75,048 carloads, a decrease of 5,406 carloads, or 6.7 percent, compared with November 2011. GWI's traffic in the fourth quarter of 2012 through November was 155,289 carloads, a decrease of 9,496 carloads, or 5.8 percent, compared to the fourth quarter of 2011 through November.

The table below sets forth consolidated carloading information for November 2012 and November 2011. Additional carload information for GWI's North American and Australian operations is included as an exhibit to this press release.

Excluding 210 carloads from the Hilton & Albany Railroad, Inc. (HAL), which commenced operations on January 1, 2012, and 1,408 carloads from the Columbus & Chattahoochee Railroad, Inc. (CCH), which commenced operations on July 1, 2012, same-railroad traffic in November 2012 decreased 7,024 carloads, or 8.7 percent, compared with November 2011. Farm & food products traffic decreased 3,156 carloads primarily due to reduced shipments in GWI's Australia Region as a result of an accelerated shipping schedule earlier in 2012, as well as an ongoing mechanical failure at an export grain terminal in Adelaide, South Australia.GWI's other commodity group traffic decreased 3,131 carloads in November 2012 primarily due to the cessation of overhead coal shipments in GWI's Ohio Region. Coal & coke traffic decreased 1,558 carloads primarily due to reduced shipments in GWI's Ohio Region, largely due to planned upgrades at a coal utility customer. Minerals & stone traffic decreased 1,102 carloads primarily due to reduced salt shipments in GWI's New York/Pennsylvania Region resulting from the mild 2011/2012 winter weather. These decreases were partially offset by a 1,304 carload increase in lumber & forest products traffic primarily due to increased shipments in GWI's Oregon Region. All remaining traffic increased by a net 619 carloads.

The table below sets forth consolidated carloading information for the fourth quarter of 2012 through November and the fourth quarter of 2011 through November. Additional carload information for GWI's North American and Australian operations is included as an exhibit to this press release.

Excluding 335 carloads from HAL and 2,657 carloads from CCH, same-railroad traffic in the fourth quarter of 2012 through November decreased 12,488 carloads, or 7.6 percent, compared with the fourth quarter of 2011 through November. The traffic decrease was principally due to decreases of 6,202 carloads of other commodity group traffic (primarily overhead coal in GWI's Ohio Region), 6,170 carloads of farm & food products traffic (primarily grain in GWI's Australia Region), and 3,127 carloads of coal & coke traffic (primarily GWI's Ohio Region), partially offset by an increase of 2,472 carloads of lumber & forest products traffic (primarily GWI's Oregon Region). All remaining traffic increased by a net 539 carloads.

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 448 carloads in November 2012 and 992 carloads in the fourth quarter of 2012 through November.

RailAmerica, Inc. Acquisition and Carload Reporting

On October 1, 2012, GWI acquired RailAmerica, Inc. (RailAmerica), at which time RailAmerica simultaneously deregistered its common stock and delisted from the New York Stock Exchange. Immediately following the closing of the acquisition, control of RailAmerica was placed into a voting trust with R. Lawrence McCaffrey appointed as trustee. The trust will remain in effect until the U.S. Surface Transportation Board (STB) issues its decision on GWI's application to control RailAmerica and its railroads, which decision will be issued no later than January 4, 2013, which by statute would be effective no later than February 3, 2013. For the pendency of the trust, GWI will account for its ownership of RailAmerica under the equity method of accounting and RailAmerica will continue to report its carloadings independent of those of GWI. RailAmerica's November 2012 carloadings press release is posted on RailAmerica's website www.railamerica.com.

Other

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, GWI operates the Tarcoola to Darwin rail line, which links the Port of Darwin with the Australian interstate rail network in South Australia. Operations currently include 66 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 23 ports in North America, Australia and Europe and perform contract coal loading and railcar switching for industrial customers.

RailAmerica, Inc. owns and operates short line and regional freight railroads in North America, operating a portfolio of 45 individual railroads with approximately 7,500 miles of track in 28 U.S. states and three Canadian provinces.

Exhibit

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

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

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

The table below sets forth Australian carloading information for the fourth quarter of 2012 through November and the third quarter of 2011 through November:

Genesee & Wyoming Inc.
Thomas D. Savage, 1-203-629-3722
Vice President - Corporate Development & Treasurer
http://www.gwrr.com

KEYWORDS: United States North America Connecticut

INDUSTRY KEYWORDS:

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