GWR - Genesee & Wyoming Reports Traffic for April 2019

Genesee & Wyoming Inc. (G&W) (NYSE:GWR) today reported traffic volumes for April 2019.

G&W’s total traffic in April 2019 was 255,647 carloads, a decrease of 14,454 carloads, or 5.4%, compared with April 2018. G&W’s same railroad traffic in April 2019 decreased 815 carloads, or 0.3%, compared with G&W’s traffic in April 2018, excluding carloads from G&W’s former Continental European intermodal business (ERS), which was sold in June 2018, and short line lease expirations in Canada (Goderich-Exeter Railway (GEXR) and Southern Ontario Railway (SOR)) in the fourth quarter of 2018.

The table below sets forth summary total carloads by segment.

Highlights by Segment

• North American Operations: Traffic in April 2019 was 139,903 carloads, an increase of 2.9% compared with April 2018. Same railroad traffic in April 2019 increased 4.8% compared with April 2018, excluding short line lease expirations in Canada, primarily due to increased agricultural products, minerals & stone and chemicals & plastics traffic, partially offset by decreased coal & coke traffic.
• Australian Operations: Traffic in April 2019 was 43,123 carloads, a decrease of 10.6% compared with April 2018, primarily due to decreased agricultural products and coal & coke traffic. Carload information for G&W’s 51.1% owned Australian Operations is presented on a 100% basis.
• U.K./European Operations: Traffic in April 2019 was 72,621 carloads, a decrease of 15.5% compared with April 2018. Same railroad traffic in April 2019 decreased 2.8% compared with April 2018, excluding traffic from ERS, primarily due to decreased intermodal traffic in the U.K., partially offset by increased petroleum products traffic in the U.K.

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

The following highlights relate to North American same railroad traffic:

• Agricultural products traffic increased 2,658 carloads, or 15.9%, primarily due to increased shipments in G&W’s Western and Midwest regions.
• Minerals & stone traffic increased 2,434 carloads, or 13.0%, due to increased shipments in all G&W regions, led by the Northeast Region.
• Chemicals & plastics traffic increased 1,957 carloads, or 14.2%, primarily due to increased shipments in G&W’s Western and Midwest regions.
• Coal & coke traffic decreased 2,341 carloads, or 12.3%, primarily due to decreased shipments in G&W’s Southern Region, partially offset by increased shipments in G&W’s Northeast Region.
• All remaining traffic increased by a net 1,698 carloads.

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

• Agricultural products traffic decreased 3,336 carloads, or 65.9%, primarily due to a weaker 2018-2019 South Australia grain harvest.
• Coal & coke traffic decreased 1,089 carloads, or 3.5%, primarily due to decreased shipments in the Hunter Valley.
• All remaining traffic decreased by a net 681 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 2,229 carloads, or 3.9%, due to decreased shipments in the U.K.
• Petroleum products traffic increased 1,183 carloads due to new jet fuel shipments in the U.K.
• All remaining traffic decreased by a net 1,069 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 120 freight railroads organized in eight locally managed operating regions with 8,000 employees serving 3,000 customers.

• G&W’s six 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 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.

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