GWR’s North American carloads
Genesee & Wyoming (GWR) receives between 60% to 65% of total revenues from its North American operations. The railroad’s North American railcar traffic expanded 4.9% YoY (year-over-year) on a same-railroad basis in April. New railroads added 518 carloads to North American volumes that month.
On a reported basis, GWR’s carloads in the North American region jumped 3.7% YoY in April 2018. From the last three months ending in April, the railroad’s same railroad operations displayed volume gains.
GWR’s coal traffic
Coal (ARCH) and coke carload growth have been a matter of concern for Genesee & Wyoming. After declining YoY for many months, the company’s coal (ARLP) carloads reversed the trend in April 2018. During the month, GWR’s North American coal and coke carloads rose 16.3%. The company hauled slightly more than 19,000 coal and coke carloads this April compared to ~16,400 last April. The share of coal and coke carloads in North American total carloads expanded 1.4% to 14.1% in April from 12.7% in April 2017.
Other than coal (UNG) and coke carloads went up 3.3% in April 2018 to a little less than 116,400 from 112,700 in April 2017. Carloads excluding coal (BTU) and coke were 85.9% of total carloads in 2018 compared with 87.3% last year.
Changes in North American commodity groups
In April, the below-mentioned commodity groups reported increased volumes:
- lumber and forest products
- minerals and stones
- pulp and paper products
The following commodity groups pulled down total volumes in April:
- agricultural products
- auto and auto parts
- chemicals and plastics
Next, we’ll discuss GWR’s United Kingdom and European freight volume trends in April.