Genesee & Wyoming Inc. (GWI) (NYSE: GWR) today reported February 2004
traffic volumes for its North American and 50%-owned Australian
operations.
North American traffic in February 2004 was 49,291 carloads, an increase
of 9,220 carloads, or 23.0%, compared with February 2003. North American
traffic for the first quarter through February 2004 was 97,753 carloads,
an increase of 13,222 carloads, or 15.6% from the first quarter through
February 2003.
Australian traffic in February 2004 was 78,254 carloads, an increase of
19,536 carloads, or 33.3%, compared with February 2003. Australian
traffic for the first quarter through February 2004 was 163,179
carloads, an increase of 37,326 carloads, or 29.7% from the first
quarter through February 2003.
The table below sets forth North American carloading information for
February 2004 and February 2003:
North America by February % of February % of
Commodity Group 2004 Total 2003 Total
Coal Coke & Ores 14,448 29.3% 12,956 32.3%
Pulp & Paper 7,394 15.0% 5,400 13.5%
Lumber & Forest Products 6,007 12.2% 3,753 9.4%
Metals 5,884 11.9% 4,571 11.4%
Minerals & Stone 3,934 8.0% 4,127 10.3%
Farm & Food Products 3,844 7.8% 2,133 5.3%
Petroleum Products 2,727 5.5% 3,015 7.5%
Chemicals 2,461 5.0% 1,781 4.5%
Autos & Auto Parts 1,330 2.7% 1,252 3.1%
Intermodal 382 0.8% 344 0.9%
Other 880 1.8% 739 1.8%
Total 49,291 100.0% 40,071 100.0%
North American carloads in February 2004 increased by 9,220 carloads, or
23.0%. Excluding 3,951 carloads from three railroads acquired from
Georgia-Pacific Corp., which GWI started operating January 1, 2004,
North American traffic in February 2004 increased by 5,269 carloads, or
13.1%. This same-railroad increase was primarily due to a 1,662 carload
increase in farm & food products led by GWI's Canada Region, a 1,309
carload increase in coal, coke & ores traffic and a 1,229 carload
increase in metals traffic led by GWI's New York-Pennsylvania Region.
All other commodities increased by a net 1,069 carloads.
The table below sets forth North American carloading information for the
first quarter of 2004 through February and the first quarter of 2003
through February:
North America by QTD Feb % of QTD Feb % of
Commodity Group 2004 Total 2003 Total
Coal Coke & Ores 29,268 29.9% 27,566 32.6%
Pulp & Paper 15,206 15.6% 11,491 13.6%
Metals 11,532 11.8% 9,957 11.8%
Lumber & Forest Products 11,420 11.7% 7,875 9.3%
Minerals & Stone 7,861 8.0% 8,002 9.5%
Farm & Food Products 6,954 7.1% 5,148 6.1%
Petroleum Products 5,524 5.7% 5,807 6.9%
Chemicals 4,808 4.9% 3,591 4.3%
Autos & Auto Parts 2,686 2.7% 2,574 3.0%
Intermodal 872 0.9% 881 1.0%
Other 1,622 1.7% 1,639 1.9%
Total 97,753 100.0% 84,531 100.0%
North American carloads for the first quarter through February 2004
increased by 13,222 carloads, or 15.6%. Excluding 7,823 carloads from
three railroads acquired from Georgia-Pacific Corp., North American
traffic for the first quarter through February 2004 increased by 5,399
carloads, or 6.4%.
The table below sets forth carloading information for GWI's 50%-owned
Australian operations for February 2004 and February 2003:
Australia by February % of February % of
Commodity Group 2004 Total 2003 Total
Grain 20,657 26.4% 8,493 14.5%
Iron Ores 16,738 21.4% 12,651 21.5%
Alumina 12,702 16.2% 11,457 19.5%
Bauxite 9,353 12.0% 9,111 15.5%
Other Ores & Minerals 8,797 11.2% 7,269 12.4%
Gypsum 4,959 6.3% 4,066 6.9%
Hook & Pull 136 0.2% 163 0.3%
Other 4,912 6.3% 5,508 9.4%
Total 78,254 100.0% 58,718 100.0%
Australian carloads in February 2004 increased by 19,536 carloads, or
33.3%, compared with February 2003. The increase was primarily the
result of a 12,164 carload increase in grain traffic versus the drought
affected carload traffic of the prior year and a 4,087 carload increase
in iron ore traffic. All other commodities increased by a net 3,285
carloads.
The table below sets forth Australian carloading information for the
first quarter of 2004 through February and the first quarter of 2003
through February:
Australia by QTD Feb % of QTD Feb % of
Commodity Group 2004 Total 2003 Total
Grain 43,559 26.7% 17,097 13.6%
Iron Ores 33,258 20.4% 27,923 22.2%
Alumina 25,972 15.9% 24,812 19.7%
Bauxite 19,916 12.2% 20,336 16.2%
Other Ores & Minerals 18,699 11.5% 16,541 13.1%
Gypsum 8,705 5.3% 7,812 6.2%
Hook & Pull 1,848 1.1% 877 0.7%
Other 11,222 6.9% 10,455 8.3%
Total 163,179 100.0% 125,853 100.0%
Australian carloads for the first quarter through February 2004,
increased by 37,326 carloads, or 29.7%, led by an increase of 26,462
carloads of grain traffic and 5,335 carloads of iron ore traffic. All
other commodities increased by a net 5,529 carloads.
Historically, the Company 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 is a leading operator of short line and regional freight railroads
in the United States, Canada, Mexico, Australia and Bolivia. The Company
operates in five countries on three continents over 8,100 miles of owned
and leased track. It also operates over more than 3,000 miles under
track access arrangements.
SOURCE Genesee & Wyoming Inc.
"Safe Harbor" Statement under the Private Securities Litigation Reform
Act of 1995: Statements in this press release regarding Genesee &
Wyoming's business which are not historical facts are "forward-looking
statements" that involve risks and uncertainties. For a discussion of
such risks and uncertainties, which could cause actual results to differ
from those contained in the forward-looking statements, see "Risk
Factors" in the Company's Annual Report or Form 10-K for the most
recently ended fiscal year.
