Genesee & Wyoming Reports Traffic for March 2013 and the First Quarter of 2013
Genesee & Wyoming Reports Traffic for March 2013 and the First Quarter of 2013
GREENWICH, Conn.--(BUSINESS WIRE)-- Genesee & Wyoming Inc. (G&W) (NYS: GWR) today reported traffic volumes for March 2013 and the first quarter of 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 March 2013 was 154,077 carloads, an increase of 77,031 carloads, or 100.0%, compared to G&W's traffic in March 2012, and an increase of 5,198 carloads, or 3.5%, compared to total March 2012 carloads pro forma for the RA acquisition. G&W's traffic in the first quarter of 2013 was 450,304 carloads, an increase of 228,126 carloads, or 102.7%, compared to G&W's traffic in the first quarter of 2012, and an increase of 19,387 carloads, or 4.5%, compared to total first quarter of 2012 pro forma for the RA acquisition.
The tables below set forth consolidated summary carload information for March 2013 and March 2012:
March 2012 | % Change | |||||||||||||||||||||||
March | ||||||||||||||||||||||||
Consolidated G&W | 2013(1) | G&W | RA | Pro Forma(2) | G&W | Pro Forma(2) | ||||||||||||||||||
Coal & Coke | 24,378 | 11,561 | 13,486 | 25,047 | 110.9% | -2.7% | ||||||||||||||||||
Agricultural Products | 22,729 | 11,162 | 10,985 | 22,147 | 103.6% | 2.6% | ||||||||||||||||||
Minerals & Stone | 17,883 | 10,414 | 6,477 | 16,891 | 71.7% | 5.9% | ||||||||||||||||||
Metals | 14,242 | 8,735 | 7,610 | 16,345 | 63.0% | -12.9% | ||||||||||||||||||
Chemicals & Plastics | 13,909 | 6,295 | 7,426 | 13,721 | 121.0% | 1.4% | ||||||||||||||||||
Pulp & Paper | 13,289 | 8,285 | 4,699 | 12,984 | 60.4% | 2.3% | ||||||||||||||||||
Lumber & Forest Products | 12,125 | 5,433 | 4,664 | 10,097 | 123.2% | 20.1% | ||||||||||||||||||
Petroleum Products | 8,619 | 2,181 | 3,979 | 6,160 | 295.2% | 39.9% | ||||||||||||||||||
Intermodal | 5,643 | 5,243 | - | 5,243 | 7.6% | 7.6% | ||||||||||||||||||
Metallic Ores | 5,108 | 3,024 | 871 | 3,895 | 68.9% | 31.1% | ||||||||||||||||||
Food or Kindred Products | 4,883 | 835 | 3,809 | 4,644 | 484.8% | 5.1% | ||||||||||||||||||
Waste | 3,068 | 1,544 | 1,670 | 3,214 | 98.7% | -4.5% | ||||||||||||||||||
Autos & Auto Parts | 2,630 | 913 | 1,950 | 2,863 | 188.1% | -8.1% | ||||||||||||||||||
Other | 5,571 | 1,421 | 4,207 | 5,628 | 292.0% | -1.0% | ||||||||||||||||||
Total carloads | 154,077 | 77,046 | 71,833 | 148,879 | 100.0% | 3.5% | ||||||||||||||||||
Carloads from New Railroads(3) | 2,767 | |||||||||||||||||||||||
Same-railroad carloads | 151,310 | 77,046 | 71,833 | 148,879 | 96.4% | 1.6% | ||||||||||||||||||
(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 2,767 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 2,431 carloads, or 1.6%, compared to March 2012. Petroleum products traffic increased 2,401 carloads primarily due to increased shipments of crude oil and liquid propane gases in G&W's Canada, Pacific and Mountain West regions. Lumber & forest products traffic increased 1,919 carloads primarily due to increased shipments in G&W's Pacific and Southern regions. Metals traffic decreased 2,188 carloads primarily due to decreased shipments of steel and scrap in G&W's Canada, Ohio Valley and Southern regions. All remaining traffic increased by a net 299 carloads.
The tables below set forth consolidated summary carload information for the first quarter of 2013 and the first quarter of 2012:
1st Qtr 2012 | % Change | |||||||||||||||||||||||
1st Qtr | ||||||||||||||||||||||||
Consolidated G&W | 2013(1) | G&W | RA | Pro Forma(2) | G&W | Pro Forma(2) | ||||||||||||||||||
Coal & Coke | 75,560 | 34,369 | 38,225 | 72,594 | 119.8% | 4.1% | ||||||||||||||||||
Agricultural Products | 63,441 | 31,195 | 33,042 | 64,237 | 103.4% | -1.2% | ||||||||||||||||||
Minerals & Stone | 50,225 | 30,232 | 18,118 | 48,350 | 66.1% | 3.9% | ||||||||||||||||||
Metals | 41,623 | 26,604 | 19,844 | 46,448 | 56.5% | -10.4% | ||||||||||||||||||
Chemicals & Plastics | 40,908 | 17,758 | 21,755 | 39,513 | 130.4% | 3.5% | ||||||||||||||||||
Pulp & Paper | 40,778 | 24,857 | 13,943 | 38,800 | 64.1% | 5.1% | ||||||||||||||||||
Lumber & Forest Products | 33,625 | 15,827 | 13,102 | 28,929 | 112.5% | 16.2% | ||||||||||||||||||
Petroleum Products | 27,213 | 6,472 | 12,589 | 19,061 | 320.5% | 42.8% | ||||||||||||||||||
Intermodal | 16,176 | 13,456 | - | 13,456 | 20.2% | 20.2% | ||||||||||||||||||
Metallic Ores | 14,812 | 7,087 | 2,775 | 9,862 | 109.0% | 50.2% | ||||||||||||||||||
Food or Kindred Products | 13,594 | 2,413 | 11,816 | 14,229 | 463.4% | -4.5% | ||||||||||||||||||
Waste | 9,015 | 5,117 | 5,171 | 10,288 | 76.2% | -12.4% | ||||||||||||||||||
Autos & Auto Parts | 7,956 | 2,406 | 5,266 | 7,672 | 230.7% | 3.7% | ||||||||||||||||||
Other | 15,378 | 4,385 | 13,093 | 17,478 | 250.7% | -12.0% | ||||||||||||||||||
Total carloads | 450,304 | 222,178 | 208,739 | 430,917 | 102.7% | 4.5% | ||||||||||||||||||
Carloads from New Railroads(3) | 8,836 | |||||||||||||||||||||||
Same-railroad carloads | 441,468 | 222,178 | 208,739 | 430,917 | 98.7% | 2.4% | ||||||||||||||||||
(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 8,836 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 10,551 carloads, or 2.4%, compared with the first quarter of 2012. The traffic increase was principally due to increases of 7,765 carloads of petroleum products traffic (primarily crude oil and liquid propane gases in G&W's Pacific, Canada, Mountain West and Southern regions), 4,950 carloads of metallic ores traffic (primarily iron ore in G&W's Australia Region) and 4,445 carloads of lumber & forest products traffic (primarily G&W's Pacific region), partially offset by a decrease of 5,093 carloads of metals traffic (primarily steel and scrap in G&W's Canada and Southern regions). All remaining traffic decreased by a net 1,516 carloads.
Carload Reporting for RailAmerica Inc. Traffic
March 2012 and the first quarter of 2012 carloads from RailAmerica Inc. railroads include eliminations of 2,581 and 7,002 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 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 March 2013 and March 2012:
March 2012 | % Change | |||||||||||||||||||||||
March | ||||||||||||||||||||||||
North American Operations: | 2013(1) | G&W | RA | Pro Forma(2) | G&W | Pro Forma(2) | ||||||||||||||||||
Coal & Coke | 24,378 | 11,561 | 13,486 | 25,047 | 110.9% | -2.7% | ||||||||||||||||||
Agricultural Products | 16,707 | 5,022 | 10,985 | 16,007 | 232.7% | 4.4% | ||||||||||||||||||
Metals | 14,242 | 8,735 | 7,610 | 16,345 | 63.0% | -12.9% | ||||||||||||||||||
Chemicals & Plastics | 13,909 | 6,295 | 7,426 | 13,721 | 121.0% | 1.4% | ||||||||||||||||||
Pulp & Paper | 13,289 | 8,285 | 4,699 | 12,984 | 60.4% | 2.3% | ||||||||||||||||||
Minerals & Stone | 12,226 | 6,075 | 6,477 | 12,552 | 101.3% | -2.6% | ||||||||||||||||||
Lumber & Forest Products | 12,125 | 5,433 | 4,664 | 10,097 | 123.2% | 20.1% | ||||||||||||||||||
Petroleum Products | 8,598 | 2,141 | 3,979 | 6,120 | 301.6% | 40.5% | ||||||||||||||||||
Food or Kindred Products | 4,883 | 835 | 3,809 | 4,644 | 484.8% | 5.1% | ||||||||||||||||||
Waste | 3,068 | 1,544 | 1,670 | 3,214 | 98.7% | -4.5% | ||||||||||||||||||
Autos & Auto Parts | 2,630 | 913 | 1,950 | 2,863 | 188.1% | -8.1% | ||||||||||||||||||
Metallic Ores | 1,864 | 795 | 871 | 1,666 | 134.5% | 11.9% | ||||||||||||||||||
Intermodal | 621 | 312 | - | 312 | 99.0% | 99.0% | ||||||||||||||||||
Other | 5,571 | 1,421 | 4,207 | 5,628 | ||||||||||||||||||||
