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Genesee & Wyoming Reports Traffic For February 2014

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

G&W’s traffic in February 2014 was 142,802 carloads, an increase of 2,602 carloads, or 1.9%, compared with February 2013. G&W’s traffic in the first quarter of 2014 through February was 299,386 carloads, an increase of 3,159 carloads, or 1.1%, compared with the first quarter of 2013 through February.

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

                                                         
Consolidated G&W

February

2014

February

2013

Change            

%

Change

Coal & Coke 26,565 23,815 2,750 11.5%
Agricultural Products 19,437 19,264 173 0.9%
Minerals & Stone 14,882 15,839 (957) (6.0%)
Pulp & Paper 13,104 12,459 645 5.2%
Metals 12,845 12,985 (140) (1.1%)
Chemicals & Plastics 12,403 12,568 (165) (1.3%)
Lumber & Forest Products 9,928 10,231 (303) (3.0%)
Petroleum Products 8,473 8,729 (256) (2.9%)
Metallic Ores 5,496 4,627 869 18.8%
Intermodal 5,220 5,170 50 1.0%
Food or Kindred Products 4,433 4,238 195 4.6%
Waste 2,791 2,711 80 3.0%
Autos & Auto Parts 2,583 2,861 (278) (9.7%)
Other 4,642 4,703 (61) (1.3%)
Total carloads 142,802 140,200 2,602 1.9%
 

Highlights:

  • North American traffic increased 2,312 carloads, or 1.9%, and was negatively affected by extreme winter weather at most of G&W’s North American regions. February 2014 carload traffic was weaker than the Company’s expectations and it remains to be seen how much traffic will be recovered in March 2014 assuming milder weather patterns.
  • Australian traffic increased 290 carloads, or 1.6%, primarily due to increased iron ore and intermodal shipments, partially offset by decreased minerals & stone traffic.
  • Coal & coke traffic increased 2,750 carloads, or 11.5%, 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 Mountain West Region.
  • Traffic in all other commodity groups decreased by a net 148 carloads.

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

                                                             
Consolidated G&W

QTD Feb

2014

QTD Feb

2013

Change

           

%

Change

Coal & Coke 55,536 51,182 4,354 8.5%
Agricultural Products 41,771 40,712 1,059 2.6%
Minerals & Stone 31,116 32,342 (1,226) (3.8%)
Pulp & Paper 27,877 27,489 388 1.4%
Chemicals & Plastics 26,099 26,999 (900) (3.3%)

Metals

26,026 27,381 (1,355) (4.9%)
Lumber & Forest Products 20,901 21,500 (599) (2.8%)
Petroleum Products 18,652 18,594 58 0.3%
Metallic Ores 12,177 9,704 2,473 25.5%
Intermodal 10,152 10,533 (381) (3.6%)
Food or Kindred Products 9,000 8,711 289 3.3%
Waste 5,948 5,947 1 0.0%
Autos & Auto Parts 5,111 5,326 (215) (4.0%)
Other 9,020 9,807 (787) (8.0%)
Total carloads 299,386 296,227 3,159 1.1%
 

Highlights:

  • North American traffic increased 1,717 carloads, or 0.7%, and was negatively affected by severe winter weather at most of G&W’s North American regions in the first quarter of 2014 through February.
  • Australian traffic increased 1,442 carloads, or 4.1%, primarily due to increased iron ore and grain shipments, partially offset by decreased minerals & stone traffic.
  • Coal & coke traffic increased 4,354 carloads, or 8.5%, 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 Mountain West Region.
  • Metallic ores traffic increased 2,473 carloads, or 25.5%, primarily due to increased iron ore shipments in G&W’s Australia Region.
  • Traffic in all other commodity groups decreased by a net 3,668 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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