GREENWICH, Conn., Oct. 13 CT-Genesee&Wyoming
GREENWICH, Conn., Oct. 13 /PRNewswire-FirstCall/ -- Genesee & Wyoming Inc.
(GWI) (NYSE: GWR) today reported traffic volumes for September 2008 and the
third quarter of 2008.
GWI's traffic in September 2008 from continuing operations was 65,999
carloads, an increase of 2,052 carloads, or 3.2 percent, compared with
September 2007. GWI's traffic in the third quarter of 2008 was 204,053
carloads, a decrease of 807 carloads, or 0.4 percent, compared with the third
quarter of 2007.
The table below sets forth carloading information for September 2008 and
September 2007:
Genesee & Wyoming Inc.
Continuing Operations September % of September % of
by Commodity Group 2008Total 2007 Total
Coal, Coke & Ores 14,84222.5%17,518 27.4%
Minerals & Stone 13,11619.9%10,860 17.0%
Pulp & Paper 9,89215.0% 9,383 14.7%
Metals 8,48212.8% 6,0689.5%
Lumber & Forest Products 6,64010.1% 6,2509.8%
Farm & Food Products 4,357 6.6% 5,0847.9%
Chemicals-Plastics 4,335 6.6% 3,5635.6%
Petroleum Products 1,965 3.0% 2,0323.2%
Autos & Auto Parts 911 1.4% 1,1641.8%
Intermodal 100 0.1% 1390.2%
Other 1,359 2.0% 1,8862.9%
Total 65,999 100.0%63,947 100.0%
The Maryland Midland Railway, which GWI started operating January 1, 2008,
and CAGY Industries, Inc., which GWI started operating May 31, 2008, shipped a
combined 4,004 carloads in September 2008. Same-railroad traffic in September
2008 decreased by 1,952 carloads, or 3.1 percent, compared with September
2007. Excluding haulage traffic on GWI's Meridian & Bigbee Railroad, which
shipped 718 carloads in September 2007, GWI's same-railroad traffic in
September 2008 decreased by 1,234 carloads, or 2.0 percent. The decrease was
principally due to an expected decline in coal, coke and ores traffic of 2,676
carloads primarily due to reduced coal shipments in GWI's Rocky Mountain
Region associated with a mine closure in February 2008. Farm & food products
traffic declined 1,374 carloads primarily due to an expected reduction in
grain shipments in GWI's Australia Region. These decreases were partially
offset by a 930 carload increase in minerals & stone traffic and a 768 carload
increase in metals traffic. All other same-railroad traffic increased by a net
1,118 carloads.
The table below sets forth carloading information for the third quarter of
2008 and the third quarter of 2007:
Genesee & Wyoming Inc.
Continuing Operations3rd Qtr % of 3rd Qtr% of
by Commodity Group 2008Total 2007 Total
Coal, Coke & Ores 48,25923.6%52,307 25.5%
Minerals & Stone 37,79718.5%32,494 15.9%
Pulp & Paper 30,70515.0%29,712 14.5%
Metals25,33012.4%18,7969.2%
Lumber & Forest Products 20,53910.1%21,519 10.5%
Farm & Food Products 15,161 7.4%17,4928.5%
Chemicals-Plastics12,649 6.2%11,1695.5%
Petroleum Products 6,434 3.2% 6,4343.1%
Autos & Auto Parts 2,422 1.2% 2,9901.5%
Intermodal 315 0.2% 5800.3%
Other 4,442 2.2%11,3675.5%
Total204,053 100.0% 204,860 100.0%
The Maryland Midland Railway, which GWI started operating January 1, 2008,
and CAGY Industries, Inc., which GWI started operating May 31, 2008, shipped
12,922 total carloads in the third quarter of 2008. Same-railroad traffic in
the third quarter of 2008 decreased by 13,729 carloads, or 6.7 percent,
compared with the third quarter of 2007. Excluding haulage traffic on GWI's
Meridian & Bigbee Railroad, which shipped 7,067 carloads in the third quarter
of 2007, GWI's same-railroad traffic in the third quarter of 2008 decreased by
6,662 carloads, or 3.4 percent. The decrease was principally due to expected
declines of 4,642 carloads of farm & food products traffic and 4,048 carloads
of coke, coal and ores traffic. The decreases were partially offset by an
increase of 1,380 carloads of metals traffic. All other same-railroad traffic
increased by a net 648 carloads.
As previously reported, GWI initiated the liquidation of its hurricane-
damaged operations in Mexico on June 25, 2007, and had no remaining employees
in Mexico as of September 30, 2007. GWI's Mexican operations had zero carloads
in September 2007 and 1,339 carloads for the third quarter of 2007. GWI's
former Mexican operations are accounted for as discontinued operations and are
not included in this report.
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 and owns a minority
interest in a railroad in Bolivia. Operations currently include 63 railroads
organized in nine regions, with more than 6,700 miles of owned and leased
track and approximately 3,000 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. 203-629-3722
SOURCE Genesee & Wyoming Inc.
