Genesee & Wyoming Inc. (G&W) (NYSE:GWR) today reported traffic volumes for March 2016 and the first quarter of 2016.

G&W’s traffic in March 2016 was 238,297 carloads, an increase of 48,409 carloads, or 25.5%, compared with March 2015. G&W’s same-railroad traffic in March 2016 was 169,115 carloads, a decrease of 20,773 carloads, or 10.9%, compared with March 2015.

G&W’s traffic in the first quarter of 2016 was 681,384 carloads, an increase of 179,020 carloads, or 35.6%, compared with the first quarter of 2015. G&W’s same-railroad traffic in the first quarter of 2016 was 449,593 carloads, a decrease of 52,771 carloads, or 10.5%, compared with the first quarter of 2015.

The table below sets forth summary total carloads by segment for March 2016 and March 2015.

        March     March        

%

Segment 2016 2015 Change

Change

North American Operations 133,300 145,507 (12,207) (8.4%)
Australian Operations 15,637 18,754 (3,117) (16.6%)
U.K./European Operations(1) 89,360 25,627 63,733 NM
Total G&W Operations 238,297 189,888 48,409 25.5%

(1) Carloads from the Freightliner Group, which was acquired on March 25, 2015. March 2015 traffic reflects 7 days of operations.

March 2016 Highlights by Segment

  • North American Operations: Traffic in March 2016 was 133,300 carloads, a decrease of 8.4% compared with March 2015. The decrease was primarily due to reduced coal & coke shipments, partially offset by increased metals shipments.
  • Australian Operations: Traffic in March 2016 was 15,637 carloads, a decrease of 16.6% compared with March 2015. The decrease was primarily due to reduced metallic ores shipments from previously announced closures of customer iron ore and manganese mines in 2015.
  • U.K./European Operations: Traffic in this segment includes carloads from Freightliner which was acquired by G&W on March 25, 2015. Traffic in March 2016 was 89,360 carloads compared to traffic in March 2015 of 25,627 carloads, which reflected 7 days of operations.

The table below sets forth North American Operations carload information for March 2016 and March 2015 by commodity group.

        March     March        

%

North American Operations: 2016 2015 Change

Change

Agricultural Products 19,654 20,589 (935) (4.5%)
Autos & Auto Parts 2,814 2,464 350 14.2%
Chemicals & Plastics 15,745 16,659 (914) (5.5%)
Coal & Coke 13,884 24,787 (10,903) (44.0%)
Food & Kindred Products 5,180 5,627 (447) (7.9%)
Intermodal 12 - 12 NM
Lumber & Forest Products 12,780 11,759 1,021 8.7%
Metallic Ores 2,103 2,321 (218) (9.4%)
Metals 13,043 11,316 1,727 15.3%
Minerals & Stone 16,679 17,538 (859) (4.9%)
Petroleum Products 8,524 9,524 (1,000) (10.5%)
Pulp & Paper 13,442 14,646 (1,204) (8.2%)
Waste 3,215 2,703 512 18.9%
Other 6,225 5,574 651 11.7%
Total carloads 133,300 145,507 (12,207) (8.4%)
  • North American Operations traffic decreased 12,207 carloads, or 8.4%, primarily due to reduced coal & coke traffic, partially offset by increased metals traffic.
  • Coal & coke traffic decreased 10,903 carloads, or 44.0%, primarily due to decreased shipments in G&W’s Midwest, Ohio Valley and Northeast regions.
  • Metals traffic increased 1,727 carloads, or 15.3%, primarily due to increased steel shipments in G&W’s Southern Region.
  • All remaining traffic decreased by a net 3,031 carloads.

The table below sets forth Australian Operations carload information for March 2016 and March 2015 by commodity group.

        March     March        

%

Australian Operations: 2016 2015 Change

Change

Agricultural Products 4,579 4,980 (401) (8.1%)
Intermodal 4,683 5,197 (514) (9.9%)
Metallic Ores 718 3,547 (2,829) (79.8%)
Minerals & Stone 5,632 5,002 630 12.6%
Petroleum Products 25 28 (3) (10.7%)
Total carloads 15,637 18,754 (3,117) (16.6%)

The decrease in Australian Operations traffic was primarily due to reduced metallic ores shipments from previously announced closures of customer iron ore and manganese mines in 2015.

The table below sets forth U.K./European Operations carload information for March 2016 and March 2015 by commodity group.

        March     March    
U.K./European Operations: 2016

2015(1)

Change
Agricultural Products 143 17 126
Coal & Coke 651 2,375 (1,724)
Intermodal 75,343 19,272 56,071
Lumber & Forest Products 45 - 45
Minerals & Stone 13,178 3,963 9,215
Total carloads 89,360 25,627 63,733

(1) Carloads from the Freightliner Group, which was acquired on March 25, 2015, and reflects 7 days of operations.

Traffic volumes in the U.K./Europe operating segment include operations from Freightliner, which was acquired by G&W on March 25, 2015. Traffic in March 2015 reflects 7 days of operations.

First Quarter of 2016 Traffic

The table below sets forth summary total carloads by segment for the first quarter of 2016 and the first quarter of 2015.

                   

%

Segment Q1 2016 Q1 2015 Change

Change

North American Operations 383,192 422,713 (39,521) (9.3%)
Australian Operations 46,223 54,024 (7,801) (14.4%)
U.K./European Operations(1) 251,969 25,627 226,342 NM
Total G&W Operations 681,384 502,364 179,020 35.6%

(1) Carloads from the Freightliner Group, which was acquired on March 25, 2015. Q1 2015 traffic reflects 7 days of operations.

The table below sets forth North American Operations carload information for the first quarter of 2016 and the first quarter of 2015 by commodity group.

                   

%

North American Operations: Q1 2016 Q1 2015 Change

Change

Agricultural Products 56,015 58,337 (2,322) (4.0%)
Autos & Auto Parts 6,806 7,223 (417) (5.8%)
Chemicals & Plastics 44,359 46,043 (1,684) (3.7%)
Coal & Coke 48,678 79,612 (30,934) (38.9%)
Food & Kindred Products 14,964 15,888 (924) (5.8%)
Intermodal 12 - 12 NM
Lumber & Forest Products 34,832 32,589 2,243 6.9%
Metallic Ores 6,225 6,365 (140) (2.2%)
Metals 35,905 34,589 1,316 3.8%
Minerals & Stone 43,681 47,384 (3,703) (7.8%)
Petroleum Products 25,989 27,057 (1,068) (3.9%)
Pulp & Paper 41,168 42,765 (1,597) (3.7%)
Waste 8,286 7,293 993 13.6%
Other 16,272 17,568 (1,296) (7.4%)
Total carloads 383,192 422,713 (39,521) (9.3%)

The table below sets forth Australian Operations carload information for the first quarter of 2016 and the first quarter of 2015 by commodity group.

                   

%

Australian Operations: Q1 2016 Q1 2015 Change

Change

Agricultural Products 13,573 14,596 (1,023) (7.0%)
Intermodal 13,623 14,349 (726) (5.1%)
Metallic Ores 2,318 10,746 (8,428) (78.4%)
Minerals & Stone 16,648 14,270 2,378 16.7%
Petroleum Products 61 63 (2) (3.2%)
Total carloads 46,223 54,024 (7,801) (14.4%)

The table below sets forth U.K./European Operations carload information for the first quarter of 2016 and the first quarter of 2015 by commodity group.

U.K./European Operations:         Q1 2016     Q1 2015(1)     Change
Agricultural Products 394 17 377
Coal & Coke 8,063 2,375 5,688
Intermodal 212,095 19,272 192,823
Lumber & Forest Products 180 0 180
Minerals & Stone 31,237 3,963 27,274
Total carloads 251,969 25,627 226,342

(1) Carloads from the Freightliner Group, which was acquired on March 25, 2015, and reflects 7 days of operations.

Other

The term carload represents physical railcars and estimated railcar equivalents of commodities for which G&W is paid on a metric ton or other measure to move freight, as well as intermodal units.

Historically, G&W has found that traffic information may be indicative of freight revenues on its railroads. Freight revenues are revenues for which G&W is paid on a per car, per container or per metric ton basis to move freight. Activities such as railcar switching, port terminal shunting, traction services and other similar freight-related services are excluded from our traffic information as the resulting revenues are not classified as freight revenue. Traffic information may not be indicative of total operating revenues, operating expenses, income from operations or net income.

G&W’s three reportable segments are summarized as follows:

  • The North American Operations segment is comprised of nine operating regions in the U.S. and Canada. This segment represents approximately 60% of G&W’s total operating revenues and approximately 80% of G&W’s total income from operations.
  • The Australian Operations segment is comprised of G&W’s existing operations in Australia and the Freightliner Australia operations acquired on March 25, 2015. This segment represents approximately 10% of G&W’s total operating revenues and approximately 10% of G&W’s total income from operations. Revenues from Freightliner’s Australia operations are not reported as freight revenues and therefore are not included in this traffic report.
  • The U.K./European Operations segment is comprised of Freightliner’s operations in the U.K. and continental Europe and G&W’s existing European port shunting operations. This segment represents approximately 30% of G&W’s total operating revenues and approximately 10% of G&W’s total income from operations.

About G&W

Genesee & Wyoming owns or leases 121 freight railroads worldwide that are organized in 11 operating regions with 7,500 employees and more than 2,800 customers.

  • G&W’s nine North American regions serve 41 U.S. states and four Canadian provinces and include 114 short line and regional freight railroads with more than 13,000 track-miles.
  • G&W’s Australia Region provides rail freight services in New South Wales, the Northern Territory and South Australia and operates the 1,400-mile Tarcoola-to-Darwin rail line.
  • G&W’s U.K./Europe Region is led by Freightliner, the U.K.’s largest rail maritime intermodal operator and second-largest rail freight company. Operations also include heavy-haul in Poland and Germany and cross-border intermodal services connecting Northern European seaports with key industrial regions throughout the continent.

G&W subsidiaries provide rail service at more than 40 major ports in North America, Australia and Europe and perform contract coal loading and railcar switching for industrial customers.

For more information, visit gwrr.com.