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Genesee & Wyoming Reports Traffic For February 2013

Stocks in this article: GWR

Genesee & Wyoming Inc. (G&W) (NYSE: GWR) today reported traffic volumes for February 2013.

Beginning in January 2013, G&W is reporting consolidated traffic volumes including carloads from RailAmerica Inc. (RA) railroads that were previously reported separately. To provide comparative context for 2013 consolidated traffic volumes, G&W is providing supplemental 2012 carload information on a pro forma basis as though the RA railroads were owned by G&W on January 1, 2012. In addition, G&W has amended RA’s 2012 carload information to conform with G&W’s reporting methodology.

G&W’s traffic in February 2013 was 140,200 carloads, an increase of 67,955 carloads, or 94.1%, compared to G&W’s traffic in February 2012, and an increase of 747 carloads, or 0.5%, compared to total February 2012 carloads pro forma for the RA acquisition. G&W’s traffic in the first quarter of 2013 through February was 296,227 carloads, an increase of 151,095 carloads, or 104.1%, compared to G&W’s traffic in the first quarter of 2012 through February, and an increase of 14,189 carloads, or 5.0%, compared to total first quarter of 2012 through February carloads pro forma for the RA acquisition.

The tables below set forth consolidated summary carload information for February 2013 and February 2012:

     

February 2012

 

% Change

Consolidated G&W

February

2013 (1)

G&W   RA  

Pro

Forma (2)

G&W  

Pro

Forma (2)

Coal & Coke 23,815 9,672   12,397   22,069 146.2%   7.9%
Agricultural Products 19,264 10,914 10,494 21,408 76.5% -10.0%
Minerals & Stone 15,839 9,716 5,767 15,483 63.0% 2.3%
Metals 12,985 8,948 6,016 14,964 45.1% -13.2%
Chemicals & Plastics 12,568 5,555 7,037 12,592 126.2% -0.2%
Pulp & Paper 12,459 8,205 4,367 12,572 51.8% -0.9%
Lumber & Forest Products 10,231 5,111 4,467 9,578 100.2% 6.8%
Petroleum Products 8,729 2,218 4,169 6,387 293.6% 36.7%
Intermodal 5,170 4,685 - 4,685 10.4% 10.4%
Metallic Ores 4,627 2,332 934 3,266 98.4% 41.7%
Food or Kindred Products 4,238 807 3,939 4,746 425.2% -10.7%
Autos & Auto Parts 2,861 792 1,743 2,535 261.2% 12.9%
Waste 2,711 1,708 1,697 3,405 58.7% -20.4%
Other 4,703 1,582   4,181   5,763 197.3% -18.4%
Total carloads 140,200 72,245   67,208   139,453 94.1% 0.5%
Carloads from New Railroads (3) 2,759
Same-railroad carloads 137,441 72,245   67,208   139,453 90.2% -1.4%
(1) Total carloads from G&W and RA
(2) Pro forma as though GWI had acquired RailAmerica on January 1, 2012

(3) Total carloads from rail operations commenced or acquired by G&W and RA in the last 12 months, including Wellsboro & Corning Railroad, Marquette Rail LLC and Columbus & Chattahoochee Railroad, Inc.

 

Excluding 2,759 total carloads from the Wellsboro & Corning Railroad, LLC, which RailAmerica acquired on April 9, 2012, Marquette Rail LLC, which RailAmerica acquired on May 1, 2012, and the Columbus & Chattahoochee Railroad, Inc., which G&W commenced operations on July 1, 2012, pro forma same-railroad traffic decreased 2,012 carloads, or 1.4%, compared to February 2012. Agricultural products traffic decreased 2,251 carloads primarily due to decreased shipments in G&W’s Canada region. Metals traffic decreased 2,054 carloads primarily due to decreased shipments in G&W’s Southern, Rail Link and Ohio Valley regions. Petroleum products traffic increased 2,208 carloads primarily due to increased shipments of crude oil and liquid propane gases in G&W’s Pacific, Mountain West and Canada regions. Coal & coke traffic increased 1,746 carloads primarily due to increased shipments in G&W’s Midwest, Mountain West and Northeast Regions, partially offset by a decline in G&W’s Central Region. All remaining traffic decreased by a net 1,661 carloads.

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