Genesee & Wyoming Reports Traffic for May 2013

Business Wirevia The Motley Fool
Updated

Genesee & Wyoming Reports Traffic for May 2013

DARIEN, Conn.--(BUSINESS WIRE)-- Genesee & Wyoming Inc. (G&W) (NYS: GWR) today reported traffic volumes for May 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 May 2013 was 167,527 carloads, an increase of 88,991 carloads, or 113.3%, compared to G&W's traffic in May 2012, and an increase of 15,166 carloads, or 10.0%, compared to total May 2012 carloads pro forma for the RA acquisition. G&W's traffic in the second quarter of 2013 through May was 325,222 carloads, an increase of 169,060 carloads, or 108.3%, compared to G&W's traffic in the second quarter of 2012 through May, and an increase of 25,914 carloads, or 8.7%, compared to total second quarter of 2012 through May carloads pro forma for the RA acquisition.

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

May 2012

% Change

Consolidated G&W

May

2013(1)

G&W

RA

Pro Forma(2)

G&W

Pro Forma(2)

Coal & Coke

28,079

11,298

11,069

22,367

148.5%

25.5%

Agricultural Products

21,865

9,288

13,004

22,292

135.4%

-1.9%

Minerals & Stone

21,127

12,417

8,736

21,153

70.1%

-0.1%

Metals

15,605

8,717

6,553

15,270

79.0%

2.2%

Chemicals & Plastics

14,700

5,725

7,662

13,387

156.8%

9.8%

Pulp & Paper

13,595

8,154

5,041

13,195

66.7%

3.0%

Lumber & Forest Products

11,682

5,852

5,166

11,018

99.6%

6.0%

Petroleum Products

9,746

1,949

3,552

5,501

400.1%

77.2%

Metallic Ores

6,306

4,121

823

4,944

53.0%

27.5%

Intermodal

6,157

6,150

-

6,150

0.1%

0.1%

Food or Kindred Products

4,545

910

4,141

5,051

399.5%

-10.0%

Waste

3,961

1,763

1,819

3,582

124.7%

10.6%

Autos & Auto Parts

3,620

806

1,888

2,694

349.1%

34.4%

Other

6,539

1,386

4,371

5,757

371.8%

13.6%

Total carloads

167,527

78,536

73,825

152,361

113.3%

10.0%

Carloads from New Railroads(3)

1,380

Same-railroad carloads

166,147

78,536

73,825

152,361

111.6%

9.0%

(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 the Columbus & Chattahoochee Railroad, Inc. which started operations on July 1, 2012

Excluding 1,380 carloads from the Columbus & Chattahoochee Railroad, Inc., which G&W commenced operations on July 1, 2012, pro forma same-railroad traffic increased 13,786 carloads, or 9.0%, compared to May 2012. Coal & coke traffic increased 5,712 carloads primarily due to increased shipments in G&W's Midwest, Northeast and Central regions. Petroleum products traffic increased 4,153 carloads primarily due to increased shipments of crude oil and liquid propane gases in G&W's Pacific, Canada, Southern and Mountain West regions. All remaining traffic increased by a net 3,921 carloads.

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

QTD May 2012

% Change

Consolidated G&W

QTD May

2013(1)

G&W

RA

Pro

Forma(2)

G&W

Pro Forma(2)

Coal & Coke

52,105

24,940

22,301

47,241

108.9%

10.3%

Agricultural Products

41,821

18,986

25,003

43,989

120.3%

-4.9%

Minerals & Stone

41,307

24,254

16,357

40,611

70.3%

1.7%

Metals

30,444

17,054

13,038

30,092

78.5%

1.2%

Chemicals & Plastics

29,308

11,448

14,840

26,288

156.0%

11.5%

Pulp & Paper

27,463

15,648

9,659

25,307

75.5%

8.5%

Lumber & Forest Products

23,725

11,618

9,633

21,251

104.2%

11.6%

Petroleum Products

19,492

4,030

7,208

11,238

383.7%

73.4%

Metallic Ores

11,848

7,638

1,585

9,223

55.1%

28.5%

Intermodal

11,575

10,892

-

10,892

6.3%

6.3%

Food or Kindred Products

9,220

1,702

7,767

9,469

441.7%

-2.6%

Waste

7,460

3,401

3,869

7,270

119.3%

2.6%

Autos & Auto Parts

6,677

1,658

3,680

5,338

302.7%

25.1%

Other

12,777

2,893

8,206

11,099

341.7%

15.1%

Total carloads

325,222

156,162

143,146

299,308

108.3%

8.7%

Carloads from New Railroads(3)

3,907

Same-railroad carloads

321,315

156,162

143,146

299,308

105.8%

7.4%

(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

Marquette Rail LLC and Columbus & Chattahoochee Railroad, Inc.

Excluding 1,274 carloads of traffic in April 2013 from Marquette Rail LLC, which RailAmerica acquired on May 1, 2012, and 2,633 carloads from the Columbus & Chattahoochee Railroad, Inc., which G&W commenced operations on July 1, 2012, pro forma same-railroad traffic increased 22,007 carloads, or 7.4%, compared with the second quarter of 2012 through May. The traffic increase was principally due to increases of 8,083 carloads of petroleum products traffic (primarily crude oil and liquid propane gases in G&W's Pacific, Canada, Southern and Mountain West regions), 4,864 carloads of coal & coke traffic (primarily G&W's Midwest, Central, Northeast and Mountain West regions, offset by lower shipments in G&W's Ohio Valley region) and 2,625 carloads of metallic ores traffic (primarily G&W's Australia Region). All remaining traffic increased by a net 6,435 carloads.

Carload Reporting for RailAmerica Inc. Traffic

May 2012 and the second quarter of 2012 through May carloads from RailAmerica Inc. railroads include eliminations of 1,559 and 3,800 carloads 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 May 2013 and May 2012:

May 2012

% Change

North American Operations:

May

2013(1)

G&W

RA

Pro Forma(2)

G&W

Pro Forma(2)

Coal & Coke

28,079

11,298

11,069

22,367

148.5%

25.5%

Minerals & Stone

15,630

6,959

8,736

15,695

124.6%

-0.4%

Metals

15,605

8,717

6,553

15,270

79.0%

2.2%

Agricultural Products

15,371

3,241

13,004

16,245

374.3%

-5.4%

Chemicals & Plastics

14,700

5,725

7,662

13,387

156.8%

9.8%

Pulp & Paper

13,595

8,154

5,041

13,195

66.7%

3.0%

Lumber & Forest Products

11,682

5,852

5,166

11,018

99.6%

6.0%

Petroleum Products

9,720

1,905

3,552

5,457

410.2%

78.1%

Food or Kindred Products

4,545

910

4,141

5,051

399.5%

-10.0%

Waste

3,961

1,763

1,819

3,582

124.7%

10.6%

Autos & Auto Parts

3,620

806

1,888

2,694

349.1%

34.4%

Metallic Ores

1,733

997

823

1,820

73.8%

-4.8%

Intermodal

555

780

-

780

-28.8%

-28.8%

Other

6,539

1,386

4,371

5,757

371.8%

13.6%

Total carloads

145,335

58,493

73,825

132,318

148.5%

9.8%

Carloads from New Railroads(3)

1,380

Same-railroad carloads

143,955

58,493

73,825

132,318

146.1%

8.8%

(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 the Columbus & Chattahoochee Railroad, Inc. which started operations on July 1, 2012

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

QTD May 2012

% Change

North American Operations:

QTD May

2013(1)

G&W

RA

Pro

Forma(2)

G&W

Pro Forma(2)

Coal & Coke

52,105

24,940

22,301

47,241

108.9%

10.3%

Metals

30,444

17,054

13,038

30,092

78.5%

1.2%

Minerals & Stone

30,405

13,458

16,357

29,815

125.9%

2.0%

Chemicals & Plastics

29,308

11,448

14,840

26,288

156.0%

11.5%

Agricultural Products

29,045

7,202

25,003

32,205

303.3%

-9.8%

Pulp & Paper

27,463

15,648

9,659

25,307

75.5%

8.5%

Lumber & Forest Products

23,725

11,618

9,633

21,251

104.2%

11.6%

Petroleum Products

19,444

3,956

7,208

11,164

391.5%

74.2%

Food or Kindred Products

9,220

1,702

7,767

9,469

441.7%

-2.6%

Waste

7,460

3,401

3,869

7,270

119.3%

2.6%

Autos & Auto Parts

6,677

1,658

3,680

5,338

302.7%

25.1%

Metallic Ores

3,448

1,930

1,585

3,515

78.7%

-1.9%

Intermodal

900

1,094

-

1,094

-17.7%

-17.7%

Other

12,777

2,893

8,206

11,099

341.7%

15.1%

Total carloads

282,421

118,002

143,146

261,148

139.3%

8.1%

Carloads from New Railroads(3)

3,907

Same-railroad carloads

278,514

118,002

143,146

261,148

136.0%

6.6%

(1) Total carloads from G&W and RA

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