GREENWICH, Conn., April 12, 2010 /PRNewswire-FirstCall/ -- Genesee & Wyoming Inc. (GWI) today reported traffic volumes for March 2010 and the first quarter of 2010.
GWI's traffic in March 2010 was 74,923 carloads, an increase of 4,820 carloads, or 6.9 percent, compared with March 2009. GWI's traffic in the first quarter of 2010 was 202,368 carloads, a decrease of 8,364 carloads, or 4.0 percent, compared with the first quarter of 2009.
The table below sets forth carloading information for March 2010 and March 2009:
Genesee & Wyoming Inc. March % of March % of by Commodity Group 2010 Total 2009 Total Coal, Coke & Ores 18,351 24.5% 18,150 25.9% Minerals & Stone 11,361 15.2% 11,194 16.0% Farm & Food Products 10,711 14.3% 9,515 13.6% Metals 7,584 10.1% 5,031 7.2% Pulp & Paper 7,190 9.6% 7,574 10.8% Lumber & Forest Products 5,433 7.3% 4,848 6.9% Chemicals-Plastics 4,517 6.0% 4,227 6.0% Petroleum Products 2,098 2.8% 2,384 3.4% Autos & Auto Parts 1,053 1.4% 646 0.9% Other 6,625 8.8% 6,534 9.3% Total 74,923 100.0% 70,103 100.0%
Metals traffic grew 2,553 carloads primarily due to increased steel shipments in GWI's New York/Ohio/Pennsylvania and Southern Regions. Farm & food products traffic grew 1,196 carloads primarily due to increased grain shipments in GWI's Australia Region. All other traffic increased by a net 1,071 carloads.
The table below sets forth carloading information for the first quarter of 2010 and the first quarter of 2009:
Genesee & Wyoming Inc. 1st Qtr % of 1st Qtr % of by Commodity Group 2010 Total 2009 Total Coal, Coke & Ores 52,154 25.8% 57,946 27.5% Minerals & Stone 30,786 15.2% 30,914 14.7% Farm & Food Products 24,895 12.3% 26,392 12.4% Pulp & Paper 20,306 10.0% 23,292 11.1% Metals 19,295 9.5% 17,414 8.3% Lumber & Forest Products 14,658 7.3% 14,477 6.9% Chemicals-Plastics 12,631 6.2% 12,702 6.0% Petroleum Products 7,451 3.7% 7,600 3.6% Autos & Auto Parts 2,679 1.3% 1,708 0.8% Other 17,513 8.7% 18,287 8.7% Total 202,368 100.0% 210,732 100.0%
The traffic decrease in the first quarter of 2010 compared to the first quarter of 2009 was principally due to declines of 5,792 carloads of coal, coke & ores traffic, 2,986 carloads of pulp & paper traffic, and 1,497 carloads of farm & food products traffic. These decreases were partially offset by a 1,881 carload increase in metals traffic. All other traffic increased by a net 30 carloads.
On June 15, 2009 GWI announced its intent to discontinue operations of its Huron Central Railway (HCRY) in the fourth quarter of 2009. GWI now operates HCRY under a temporary service contract through August 14, 2010. Starting in August 2009 HCRY carloads are no longer included in this carloadings press release due to the structure of this temporary contract. To facilitate comparison to the prior year, GWI has excluded 1,250 total HCRY carloads from March 2009 and 3,707 carloads from the first quarter of 2009 in this press release. However, carloads reported in GWI's Forms 10-K and 10-Q will include HCRY traffic through July 2009.
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. Operations currently include 62 railroads organized in nine regions, with approximately 6,000 miles of owned and leased track and approximately 3,400 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/
Genesee & Wyoming Inc.
CONTACT: Matthew O. Walsh, Senior Vice President - Corporate Development
and Treasurer, Genesee & Wyoming Inc., +1-203-629-3722
Web Site: http://www.gwrr.com/
