Genesee & Wyoming Inc. (GWI) (NYSE: GWR) today reported traffic volumes for December 2012 and the fourth quarter of 2012.
On October 1, 2012, GWI acquired RailAmerica Inc. and immediately following the closing of the acquisition, control of RailAmerica was placed into a voting trust until the U.S. Surface Transportation Board (STB) issued its decision on GWI’s application to control RailAmerica's railroads. The STB issued a final decision that allowed GWI to control RailAmerica’s railroads on December 28, 2012 and the voting trust that controlled RailAmerica was dissolved on that date.
For the fourth quarter of 2012, GWI accounted for its ownership of RailAmerica under the equity method of accounting and RailAmerica reported its carloadings independent of those of GWI. RailAmerica’s carload press release can be found on www.railamerica.com. GWI will report consolidated traffic volumes, including carloads from the RailAmerica railroads, beginning with the press release for January 2013 traffic.
GWI’s traffic in December 2012 was 74,529 carloads, a decrease of 7,480 carloads, or 9.1 percent, compared with December 2011. GWI’s traffic in the fourth quarter of 2012 was 229,818 carloads, a decrease of 16,976 carloads, or 6.9 percent, compared to the fourth quarter of 2011.The table below sets forth consolidated carloading information for December 2012 and December 2011. Additional carload information for GWI’s North American and Australian operations is included as an exhibit to this press release.
|Genesee & Wyoming Inc.|
|by Commodity Group||December||December|
|Coal & Coke||12,352||18,145||-31.9%|
|Minerals & Stone||9,126||10,504||-13.1%|
|Pulp & Paper||8,577||8,223||4.3%|
|Farm & Food Products||8,135||10,655||-23.7%|
|Lumber & Forest Products||5,991||5,301||13.0%|
|Chemicals & Plastics||5,354||5,376||-0.4%|
|Autos & Auto Parts||802||692||15.9%|
|* - Represents intermodal units|
|** - Includes carloads and intermodal units|