LONDON, UK / ACCESSWIRE / July 17, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Darien, Connecticut based Genesee & Wyoming Inc. (NYSE: GWR), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=GWR. The Company disclosed on July 14, 2017, their freight railroad traffic for the month of June 2017 as well as for Q2 2017. The railroad traffic rose by 12.4% in June 2017 as compared to 14.6% for Q2 2017. For immediate access to our complimentary reports, including today’s coverage, register for free now at:
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Summary of the railroad traffic for June 2017 and Q2 2017
The Company recorded a total traffic of 274,588 carloads for the month of June 2017 which was higher by 30,391 carloads compared to the traffic for the same month in FY16. Similarly, the total traffic for Q2 2017 was 810,082 carloads, which was higher by 103,166 carloads compared to the traffic for the same period in FY16. However, the Company recorded a marginal decrease in the same-railroad traffic for Q2 2017. The same-railroad traffic for Q2 2017 was a total of 705,940 carloads, which was 976 carloads less, or 0.1% lower than that recorded for the same period in FY16.
The North American Operations: In North America, GWR has eight regions that cover 41 states and in the US and four Canadian provinces; including 115 short line and regional freight railroads with more than 13,000 track-miles.
The railroad traffic for the month of June 2017 for the North American operations was a total of 135,654 carloads. This was 3.3% higher compared to the traffic recorded in June 2016. The figures are inclusive of the increase in traffic due to the acquisition of the Providence and Worcester Railroad Company which was completed on November 01, 2016 as well as the decrease in traffic due to the closing of the Heart of Georgia Railroad, Inc. in May 2017. Overall, the North American traffic saw a marginal decrease of same-railroad by 0.1% for June 2017.
For the Q2 2017, the North American operations recorded a total traffic of 397,047 carloads which was an increase of 10,924 carloads, or 2.8% higher than the traffic of 386,123 carloads recorded in Q2 2016. The same-railroad carloads for Q2 2017 were 705,940 carloads, which was 976 carloads less, or 0.1% lower than the same-railroad traffic of 706,916 carloads recorded for Q2 2016.
The Australian Operations: In Australia, GWR offers its rail freight services in New South Wales, including in the Hunter Valley coal supply chain, the Northern Territory and South Australia. It also operates the 1,400-mile Tarcoola-to-Darwin rail line. GWR has a 51.1% ownership stake in the Australian operations with the balance 48.9% stake owned by a consortium led by Macquarie Infrastructure and Real Assets.
The railroad’s traffic recorded for the Australian operations for June 2017 was a total of 45,998 carloads compared to the railroad’s traffic of 14,199 carloads in June 2016. This was 31,799 carloads more, or an increase in traffic by 31.4%. The factors contributing to the increase was due to the acquisition of Glencore Rail (GRail) in December 2016 as well as the increase in the traffic of metallic ores and agricultural products.
For Q2 2017, the Australian operations recorded a total railroads traffic of 146,089 carloads which was 101,838 carloads higher than the total traffic of 44,251 carloads recorded in Q2 2016. The major contributor to the increase in railroad traffic was due to the 92,659 carloads of Coal & Coke because of the acquisition of GRail.
The UK/European Operations: In the UK/Europe Region, GWR runs Freightliner which makes it the largest rail maritime intermodal operator and the second-largest rail freight Company. Its UK / Europe operations also include heavy-haul in Poland and Germany, intermodal services connecting Northern European seaports with key industrial regions in Germany, and regional rail services in the Netherlands and Belgium.
The railroad traffic for the month of June 2017 recorded for the UK/European operations was 92,936 carloads. This was 5,724 carloads less, or nearly a 5.8% decrease in traffic, compared to the total traffic of 98,660 carloads recorded in June 2016. The main reason for the decrease in traffic was due to the decreased intermodal traffic as a result of the discontinuation of unprofitable routes and a major decrease in the coal & coke shipments from UK.
For Q2 2017, the UK/European operations recorded total railroad traffic of 266,946 carloads. This was 9,596 carloads less, or nearly a decrease of 3.5% traffic, compared to the 276,542 carloads recorded in Q2 2016. Overall, the UK/European Operations were the only region which showed a decrease in railroad traffic compared to the operations of any other regions of the Company.
About Genesee & Wyoming Inc. (GWR)
GWR is a freight railroad operator and owns or leases 122 freight railroads worldwide. Its operations are segregated into 10 main regions, and the Company employs more than 8,000 people. G&W subsidiaries provide rail service at more than 40 major ports in North America, Australia, and Europe and perform contract coal loading and railcar switching for industrial customers.
Last Close Stock Review
On Friday, July 14, 2017, the stock closed the trading session at $68.29, slightly climbing 0.31% from its previous closing price of $68.08. A total volume of 212.68 thousand shares has exchanged hands. Genesee & Wyoming’s stock price advanced 2.71% in the last one month, 5.39% in the past three months, and 5.13% in the previous twelve months. The stock is trading at a PE ratio of 28.67 and currently, has a market cap of $4.24 billion.
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SOURCE: Pro-Trader Daily