Genesee & Wyoming Reports Traffic for July 2018

Genesee & Wyoming Inc. (G&W) (NYSE:GWR) today reported traffic volumes for July 2018.

G&W’s total traffic in July 2018 was 284,754 carloads, an increase of 7,614 carloads, or 2.7%, compared with July 2017. G&W’s same railroad traffic in July 2018 increased 18,063 carloads, or 6.8%, compared with G&W’s traffic in July 2017, excluding carloads from G&W’s former Continental European intermodal business (ERS), which was sold in June 2018.

The table below sets forth summary total carloads by segment.

Highlights by Segment

• North American Operations: Traffic in July 2018 was 149,681 carloads, an increase of 11.9% compared with July 2017, primarily due to increases across most commodity groups, including metals, coal & coke, minerals & stone and agricultural products.
• Australian Operations: Traffic in July 2018 was 55,337 carloads, an increase of 5.8% compared with July 2017, primarily due to increased coal & coke and minerals & stone traffic, partially offset by decreased agricultural products and metallic ores traffic. Carload information for G&W’s 51.1% owned Australian Operations is presented on a 100% basis.
• U.K./European Operations: Traffic in July 2018 was 79,736 carloads, a decrease of 12.4% compared with July 2017. Excluding traffic from ERS, same railroad traffic in July 2018 was 79,736 carloads, a decrease of 1.0% compared with same railroad traffic in July 2017 of 80,541 carloads, primarily due to decreased intermodal traffic in the U.K.

The table below sets forth North American Operations carload information by commodity group.

• Metals traffic increased 4,971 carloads, or 47.7%, primarily due to increased scrap and finished steel shipments in most G&W regions.
• Other commodity group traffic increased 2,634 carloads, or 59.7%, primarily due to increased empty overhead car shipments in most G&W regions.
• Coal & coke traffic increased 1,939 carloads, or 9.2%, primarily due to increased shipments of overhead and export steam coal in G&W’s Northeast Region and steam coal in G&W’s Midwest Region.
• Minerals & stone traffic increased 1,926 carloads, or 10.4%, primarily due to increased shipments of construction aggregates and cement in most G&W regions.
• Agricultural products traffic increased 1,742 carloads, or 11.4%, primarily due to increased soybean meal shipments in G&W’s Western Region.
• All remaining traffic increased by a net 2,647 carloads.

The table below sets forth carload information for G&W’s 51.1% owned Australian Operations by commodity group.

• Coal & coke traffic increased 5,232, or 15.5%, primarily due to increased demand as well as spot coal shipments for various customers in the Hunter Valley.
• Minerals & stone traffic increased 1,179 carloads, or 25.6%, primarily due to increased gypsum shipments as July 2017 was negatively impacted by an outage at a customer port facility.
• Agricultural products traffic decreased 1,912 carloads, or 37.0%, primarily due to a weaker 2017-2018 harvest in South Australia.
• Metallic ores traffic decreased 1,179 carloads, or 35.9%, primarily due to the planned, temporary shutdown of an iron ore mine in October 2017.
• All remaining traffic decreased by a net 311 carloads.

The table below sets forth U.K./European Operations carload information by commodity group.

The following highlights relate to U.K./European same railroad traffic:

• Intermodal traffic decreased 548 carloads, or 0.9%, in the U.K. due to operational issues at a U.K. port.
• All remaining traffic decreased by a net 257 carloads.

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, operating income or net income. Please refer to the documents G&W files from time to time with the Securities and Exchange Commission, such as its Form 10-Q and 10-K, which contain additional information on G&W’s freight traffic and segment reporting.

About G&W

G&W owns or leases 121 freight railroads organized in nine locally managed operating regions with 8,000 employees serving 3,000 customers.

• G&W’s seven North American regions serve 41 U.S. states and four Canadian provinces and include 115 short line and regional freight railroads with more than 13,000 track-miles.
• G&W’s Australia Region serves New South Wales, the Northern Territory and South Australia and operates the 1,400-mile Tarcoola-to-Darwin rail line. The Australia Region is 51.1% owned by G&W and 48.9% owned by a consortium of funds and clients managed by Macquarie Infrastructure and Real Assets.
• G&W’s UK/Europe Region includes the U.K.’s largest rail maritime intermodal operator and second-largest freight rail provider, as well as regional rail services in Continental Europe.

G&W subsidiaries and joint ventures also provide rail service at more than 40 major ports, rail-ferry service between the U.S. Southeast and Mexico, transload services, contract coal loading, and industrial railcar switching and repair.

For more information, visit gwrr.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20180813005144/en/