Genesee & Wyoming Inc. (GWR) May Traffic Rose 2.3%

Genesee & Wyoming Inc. (G&W) (NYSE: GWR) reported traffic volumes for May 2014.

G&W’s traffic in May 2014 was 171,391 carloads, an increase of 3,864 carloads, or 2.3%, compared with May 2013. G&W’s traffic in the second quarter of 2014 through May was 341,904 carloads, an increase of 16,682 carloads, or 5.1%, compared with the second quarter of 2013 through May.

The table below sets forth consolidated summary carload information for May 2014 and May 2013 by commodity group.

Highlights:

• North American traffic increased 6,133 carloads, or 4.2%, primarily due to increased overhead Class 1 shipments, coal, agricultural products and metals traffic.
• Australian traffic decreased 2,269 carloads, or 10.2%, primarily due to an expected decrease in agricultural products traffic. In addition, minerals & stone traffic declined due to a reduction in gypsum shipments and the previously announced closure of a customer facility.
• G&W’s Other commodity group traffic increased 1,898 carloads, or 29.0%, primarily due to overhead Class 1 shipments.
• Coal & coke traffic increased 1,886 carloads, or 6.7%, primarily due to increased steam coal shipments in G&W’s Midwest and Ohio Valley regions.
• Metals traffic increased 1,545 carloads, or 9.9%, primarily due to increased shipments in G&W’s Northeast, Canada and Southern regions.
• Petroleum products traffic decreased 1,243 carloads, or 12.8%, primarily due to decreased shipments of crude oil in G&W’s Southern, Pacific and Canada regions, as well as decreased shipments of liquid petroleum gases in G&W’s Mountain West region.
• All remaining traffic decreased by a net 222 carloads.

The table below sets forth consolidated summary carload information for the second quarter of 2014 through May and the second quarter of 2013 through May by commodity group.

Highlights:

• North American traffic increased 20,916 carloads, or 7.4%, primarily due to increased coal, agricultural products and overhead Class 1 shipments.
• Australian traffic decreased 4,234 carloads, or 9.9%, primarily due to reduced minerals & stone shipments resulting from lower shipments of gypsum and the previously announced closure of a customer facility, as well as an expected decrease in agricultural products traffic.
• Coal & coke traffic increased 6,893 carloads, or 13.2%, primarily due to increased steam coal shipments in G&W’s Midwest and Ohio Valley regions, partially offset by decreased shipments in G&W’s Central and Mountain West regions.
• G&W’s Other commodity group traffic increased 5,967 carloads, or 46.7%, primarily due to overhead Class 1 shipments.
• Agricultural products traffic increased 4,781 carloads, or 11.4%, primarily due to increased shipments in G&W’s Pacific, Central, Canada and Ohio Valley regions, partially offset by decreased shipments in G&W’s Australia Region.
• Petroleum products traffic decreased 2,462 carloads, or 12.6%, primarily due to decreased shipments of crude oil in G&W’s Southern, Canada and Pacific regions, as well as decreased shipments of liquid petroleum gases in G&W’s Mountain West and Pacific regions.
• All remaining traffic increased by a net 1,503 carloads.

Other

Historically, G&W 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. Car movements related to railcar switching, including activities at port terminals, are excluded from our carload information as the resulting revenues are classified as non-freight.

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