JACKSONVILLE, Fla., March 7, 2012 /PRNewswire/ -- RailAmerica, Inc. (NYSE: RA) today reported that its total freight carloads in February 2012 were 69,590, up 9.9% from 63,347 in February 2011.
The Company increased shipments in February 2012 in ten out of twelve commodity groups compared to February 2011. Carloads in February 2012 were favorably impacted by one more day (29 versus 28) compared to February 2011. The largest increases were in Agricultural Products, Motor Vehicles and Forest Products. Agricultural Products were up primarily due to more shipments in the Midwest region. Motor Vehicles increased primarily due to higher shipments in the Midwest and West regions. Forest Products were higher primarily due to increased shipments in the West, Central and Northeast regions.
The only declines in shipments were in Coal and Pulp, Paper & Allied Products. Coal declined primarily due to fewer shipments in the Central U.S. Pulp, Paper & Allied Products carloads decreased primarily due to lower shipments in the Northeast region.
February 2012 carloads include 441 carloads from the acquisition of three railroads in Alabama. On a "same railroad" basis, carloads increased 9.2%.
RailAmerica, Inc. owns and operates short-line and regional freight railroads in North America, operating a portfolio of 43 individual railroads with approximately 7,400 miles of track in 27 U.S. states and three Canadian provinces.
Cautionary Note Regarding Forward-Looking Statements
Certain items in this press release and other information we provide from time to time may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including, but not necessarily limited to, statements relating to future events and financial performance. Words such as "anticipates," "expects," "intends," "plans," "projects," "believes," "appears," "may," "will," "would," "could," "should," "seeks," "estimates" and variations on these words and similar expressions are intended to identify such forward-looking statements. These statements are based on management's current expectations and beliefs and are subject to a number of factors that could lead to actual results materially different from those described in the forward-looking statements. RailAmerica, Inc. can give no assurance that its expectations will be attained. Accordingly, you should not place undue reliance on any forward-looking statements contained in this press release. Factors that could have a material adverse effect on our operations and future prospects or that could cause actual results to differ materially from RailAmerica, Inc.'s expectations include, but are not limited to, prolonged capital markets disruption and volatility, general economic conditions and business conditions, our relationships with Class I railroads and other connecting carriers, our ability to obtain railcars and locomotives from other providers on which we are currently dependent, legislative and regulatory developments including rulings by the Surface Transportation Board or the Railroad Retirement Board, strikes or work stoppages by our employees, our transportation of hazardous materials by rail, rising fuel costs, goodwill assessment risks, acquisition risks, competitive pressures within the industry, risks related to the geographic markets in which we operate; and other risks detailed in RailAmerica, Inc.'s filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. In addition, new risks and uncertainties emerge from time to time, and it is not possible for RailAmerica, Inc. to predict or assess the impact of every factor that may cause its actual results to differ from those contained in any forward-looking statements. Such forward-looking statements speak only as of the date of this press release. RailAmerica, Inc. expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in its expectations with regard thereto or change in events, conditions or circumstances on which any statement is based.
RailAmerica, Inc. Carload Comparisons by Commodity Group Months Ended February 29 and 28, 2012 and 2011, respectively | ||||||||
February | QTD February | |||||||
Commodity Group | 2012 | 2011 | % Chg | 2012 | 2011 | % Chg | ||
Coal | 12,295 | 12,608 | -2.5% | 24,498 | 26,504 | -7.6% | ||
Agricultural Products | 10,498 | 8,851 | 18.6% | 21,754 | 19,440 | 11.9% | ||
Chemicals | 7,591 | 7,551 | 0.5% | 15,836 | 15,929 | -0.6% | ||
Non-Metallic Minerals and Products | 5,975 | 5,717 | 4.5% | 12,045 | 11,816 | 1.9% | ||
Metallic Ores and Metals | 5,627 | 4,754 | 18.4% | 11,419 | 9,819 | 16.3% | ||
Pulp, Paper & Allied Products | 5,329 | 5,484 | -2.8% | 10,919 | 11,246 | -2.9% | ||
Waste & Scrap Materials | 4,702 | 3,980 | 18.1% | 9,129 | 7,841 | 16.4% | ||
Forest Products | 4,636 | 3,604 | 28.6% | 8,812 | 7,005 | 25.8% | ||
Food or Kindred Products | 4,591 | 4,242 | 8.2% | 9,379 | 8,988 | 4.4% | ||
Petroleum | 3,679 | 3,600 | 2.2% | 7,530 | 7,711 | -2.3% | ||
Other | 2,856 | 2,182 | 30.9% | 6,622 | 4,458 | 48.5% | ||
Motor Vehicles | 1,811 | 774 | 134.0% | 3,384 | 1,553 | 117.9% | ||
TOTAL | 69,590 | 63,347 | 9.9% | 141,327 | 132,310 | 6.8% | ||
Less TNHR, WGCR & COEH* | (441) | (998) | ||||||
Same Railroad | 69,149 | 63,347 | 9.2% | 140,329 | 132,310 | 6.1% | ||
* Three Notch Railroad (TNHR), Wiregrass Central Railroad (WGCR), and Conecuh Valley Railroad (COEH) | ||||||||
SOURCE RailAmerica, Inc.
