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SMALL BUSINESS
Genesee & Wyoming Inc. Reports Traffic for August 2009
PR Newswire
GREENWICH, Conn., Sept. 8, 2009 /PRNewswire-FirstCall/ -- Genesee & Wyoming Inc. (GWI) (NYSE: GWR) today reported traffic volumes for August 2009.
GWI's traffic in August 2009 was 66,057 carloads, a decrease of 2,385 carloads, or 3.5 percent, compared with August 2008. GWI's traffic in the third quarter of 2009 through August was 133,480 carloads, a decrease of 3,207 carloads, or 2.3 percent, compared with the third quarter of 2008 through August.
The table below sets forth carloading information for August 2009 and August 2008:
Genesee & Wyoming Inc. August % of August % of
by Commodity Group 2009 Total 2008 Total
Coal, Coke & Ores 16,606 25.1% 16,780 24.5%
Minerals & Stone 12,099 18.3% 12,699 18.6%
Pulp & Paper 7,225 10.9% 10,064 14.7%
Farm & Food Products 5,960 9.0% 5,301 7.8%
Lumber & Forest Products 5,855 8.9% 6,994 10.2%
Metals 5,730 8.7% 8,036 11.8%
Chemicals-Plastics 3,852 5.8% 4,061 5.9%
Petroleum Products 2,033 3.1% 2,147 3.1%
Autos & Auto Parts 569 0.9% 840 1.2%
Other 6,128 9.3% 1,520 2.2%
Total 66,057 100.0% 68,442 100.0%
GWI railroads acquired within the last twelve months shipped a combined 10,156 carloads in August 2009. GWI's same-railroad traffic in August 2009 decreased by 12,541 carloads, or 18.3 percent, compared with August 2008. Pulp & paper traffic decreased 3,139 carloads primarily due to lower shipments in GWI's Southern and Canada Regions. Metals traffic decreased 2,917 due to lower steel shipments in GWI's New York/Ohio/Pennsylvania and Southern Regions. Coal, coke & ores traffic decreased 2,569 carloads primarily due to lower shipments in GWI's Illinois and Rocky Mountain Regions. All other same-railroad traffic decreased by a net 3,916 carloads.
The table below sets forth carloading information for the third quarter of 2009 through August and the third quarter of 2008 through August:
Genesee & Wyoming Inc. QTD Aug % of QTD Aug % of
by Commodity Group 2009 Total 2008 Total
Coal, Coke & Ores 33,876 25.4% 33,417 24.5%
Minerals & Stone 24,401 18.3% 24,602 18.0%
Pulp & Paper 15,371 11.5% 20,542 15.0%
Metals 12,289 9.2% 16,150 11.8%
Farm & Food Products 12,199 9.1% 10,804 7.9%
Lumber & Forest Products 11,396 8.5% 13,750 10.1%
Chemicals-Plastics 7,946 6.0% 8,262 6.0%
Petroleum Products 4,289 3.2% 4,354 3.2%
Autos & Auto Parts 1,151 0.9% 1,511 1.1%
Other 10,562 7.9% 3,295 2.4%
Total 133,480 100.0% 136,687 100.0%
GWI railroads acquired within the last 12 months shipped a combined 18,772 carloads in the third quarter of 2009 through August. Same-railroad traffic in the third quarter of 2009 through August decreased by 21,979 carloads, or 16.1 percent, compared with the third quarter of 2008 through August. The decrease was principally due to declines of 5,825 carloads of pulp & paper traffic, 5,120 carloads of metals traffic, and 4,023 carloads of coal, coke and ores traffic. All other same-railroad traffic decreased by a net 7,011 carloads.
GWI railroads acquired within the last 12 months include the Georgia Southwestern Railroad and the Ohio Central Railroad System, both of which GWI purchased on October 1, 2008.
On June 15, 2009, GWI announced its intent to discontinue operations of its Huron Central Railway (HCRY) in the fourth quarter of 2009. Starting in August 2009, HCRY carloads are no longer included in this press release due to the structure of a temporary service contract. To facilitate comparison to the prior year, GWI has excluded 1,367 total HCRY carloads from August 2008 in this press release. However, carloads reported in GWI's Form 10-Q will include HCRY traffic for all of 2008.
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.
GWI owns and operates short line and regional freight railroads in the United States, Canada, Australia and the Netherlands and owns a minority interest in a railroad in Bolivia. Operations currently include 63 railroads organized in nine regions, with more than 6,800 miles of owned and leased track and approximately 3,000 additional miles under track access arrangements. GWI provides rail service at 16 ports in North America and Europe and performs contract coal loading and railcar switching for industrial customers.
CONTACT:
Matthew O. Walsh
Senior Vice President - Corporate Development and Treasurer
Genesee & Wyoming Inc.
1-203-629-3722
Web Site: http://www.gwrr.com
SOURCE Genesee & Wyoming Inc.
2009-09-08 18:46:00
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