Genesee & Wyoming reports 1Q17 results
Published by Louise Mulhall,
Editorial Assistant
Dry Bulk,
G&W’s results show that traffic increased in March 2017. Total traffice was 290,752 carloads, an increase of 52 455 carloads, or 22.0%, compared with March 2016. G&W’s same-railroad traffic in March 2017 was 251 490 carloads, an increase of 13 193 carloads, or 5.5%, compared with March 2016.
G&W’s traffic in the first quarter of 2017 was 821 248 carloads, an increase of 139 864 carloads, or 20.5%, compared with the first quarter of 2016. G&W’s same-railroad traffic in the first quarter of 2017 was 715 656 carloads, an increase of 34 272 carloads, or 5.0%, compared with the first quarter of 2016.
March 2017 highlights by segment
- North American Operations: Traffic in March 2017 was 137,977 carloads, an increase of 3.5% compared with March 2016, including carloads from the Providence and Worcester Railroad Company (P&W) acquisition, which closed on November 1, 2016. On a same-railroad basis, North American traffic increased 1.4%, primarily due to increased coal and coke traffic.
- Australian Operations: Traffic in March 2017 was 55 388 carloads, including carloads from the Glencore Rail (GRail) acquisition, which closed on 1 December, 2016. On a same-railroad basis, Australian traffic increased 21.3%, primarily due to increased metallic ores traffic. Please note, simultaneous with the GRail acquisition, G&W issued a 48.9% equity stake in its Australian Operations to Macquarie Infrastructure and Real Assets. Carload information for the Australian Operations is presented on a 100% basis.
- U.K./European Operations: Traffic in March 2017 was 97 387 carloads, an increase of 9.0% compared with March 2016, primarily due to increased intermodal and coal and coke traffic.
Coal and coke traffic
The following highlights relate to North American same-railroad traffic, excluding traffic from P&W, which was acquired on 1 November, 2016.
- Coal and coke traffic increased 5718 carloads, or 41.2%, primarily due to increased shipments of utility coal in G&W’s Midwest and Northeast regions, partially offset by decreased shipments in G&W’s Central Region.
- Other commodity group traffic decreased 1120 carloads, or 18.0%, primarily due to decreased Class 1 haulage traffic in G&W’s Southern Region.
- All remaining traffic decreased by a net 2763 carloads.
Read the article online at: https://www.drybulkmagazine.com/rail-barge/13042017/genesee-wyoming-reports-1q17-results/
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