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.
|Coal & Coke||26,565||23,815||2,750||11.5%|
|Minerals & Stone||14,882||15,839||(957)||(6.0%)|
|Pulp & Paper||13,104||12,459||645||5.2%|
|Chemicals & Plastics||12,403||12,568||(165)||(1.3%)|
|Lumber & Forest Products||9,928||10,231||(303)||(3.0%)|
|Food or Kindred Products||4,433||4,238||195||4.6%|
|Autos & Auto Parts||2,583||2,861||(278)||(9.7%)|
- 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.
|Coal & Coke||55,536||51,182||4,354||8.5%|
|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%)|
|Lumber & Forest Products||20,901||21,500||(599)||(2.8%)|
|Food or Kindred Products||9,000||8,711||289||3.3%|
|Autos & Auto Parts||5,111||5,326||(215)||(4.0%)|
- 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.
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