RailAmerica, Inc. Reports May 2011 Monthly Carloads
JACKSONVILLE, Fla., June 14, 2011 /PRNewswire/ — RailAmerica, Inc. (NYSE: RA) today reported that its total freight carloads for the month ended May 31, 2011 were 69,776, down 1.7% from 70,967 in May 2010.
The Company had increased shipments in May 2011 in six out of twelve commodity groups compared to May 2010. Much of the decrease was due to lower shipments of Petroleum and Coal. Petroleum carloads were down primarily due to lower shipments in the West and Northeast regions. The decline in coal carloads was primarily due to flooding related service disruptions on the Missouri & Northern Arkansas Railroad (MNA), which resumed full operations on May 13th, and reduced volume on the Indiana Southern Railroad. Excluding coal shipments, carloads increased 7.1% in May.
The largest increases were in Agricultural Products, Non-Metallic Minerals and Products, and Pulp, Paper & Allied Products. Agricultural Products was up primarily due to higher shipments in the Midwest and Central regions. Non-Metallic Minerals and Products were stronger due to increased shipments in the Midwest and Central regions, and Pulp, Paper & Allied carloads were higher due to increased shipments in the Southeast and Central regions.
May 2011 carloads include 563 carloads from the acquisition of three railroads in Alabama. On a “same railroad” basis, carloads declined 2.5%. Excluding coal shipments, “same railroad” carloads increased 6.1% in May.
RailAmerica, Inc. owns and operates short-line and regional freight railroads in North America, operating a portfolio of 43 individual railroads with approximately 7,400 miles of track in 27 U.S. states and three Canadian provinces.
Cautionary Note Regarding Forward-Looking Statements
Certain items in this press release and other information we provide from time to time may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including, but not necessarily limited to, statements relating to future events and financial performance. Words such as “anticipates,” “expects,” “intends,” “plans,” “projects,” “believes,” “appears,” “may,” “will,” “would,” “could,” “should,” “seeks,” “estimates” and variations on these words and similar expressions are intended to identify such forward-looking statements. These statements are based on management’s current expectations and beliefs and are subject to a number of factors that could lead to actual results materially different from those described in the forward-looking statements. RailAmerica, Inc. can give no assurance that its expectations will be attained. Accordingly, you should not place undue reliance on any forward-looking statements contained in this press release. Factors that could have a material adverse effect on our operations and future prospects or that could cause actual results to differ materially from RailAmerica, Inc.’s expectations include, but are not limited to, prolonged capital markets disruption and volatility, general economic conditions and business conditions, our relationships with Class I railroads and other connecting carriers, our ability to obtain railcars and locomotives from other providers on which we are currently dependent, legislative and regulatory developments including rulings by the Surface Transportation Board or the Railroad Retirement Board, strikes or work stoppages by our employees, our transportation of hazardous materials by rail, rising fuel costs, goodwill assessment risks, acquisition risks, competitive pressures within the industry, risks related to the geographic markets in which we operate; and other risks detailed in RailAmerica, Inc.’s filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. In addition, new risks and uncertainties emerge from time to time, and it is not possible for RailAmerica, Inc. to predict or assess the impact of every factor that may cause its actual results to differ from those contained in any forward-looking statements. Such forward-looking statements speak only as of the date of this press release. RailAmerica, Inc. expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in its expectations with regard thereto or change in events, conditions or circumstances on which any statement is based.
RailAmerica, Inc.
Carload Comparisons by Commodity Group
Month Ended May 31, 2011 and 2010
May QTD May
--- -------
Commodity Group 2011 2010 % Chg 2011 2010 % Chg
--------------- ---- ---- ----- ---- ---- -----
Agricultural Products 12,229 9,921 23.3% 23,478 20,629 13.8%
--------------------- ------ ----- ---- ------ ------ ----
Coal 8,875 14,111 -37.1% 22,324 28,887 -22.7%
---- ----- ------ ----- ------ ------ -----
Chemicals 8,346 7,982 4.6% 16,361 16,732 -2.2%
--------- ----- ----- --- ------ ------ ----
Non-Metallic Minerals
and Products 8,058 6,677 20.7% 15,575 13,476 15.6%
--------------------- ----- ----- ---- ------ ------ ----
Pulp, Paper & Allied
Products 6,136 5,097 20.4% 11,439 10,307 11.0%
-------------------- ----- ----- ---- ------ ------ ----
Metallic Ores and Metals 6,040 5,676 6.4% 12,504 10,576 18.2%
------------------------ ----- ----- --- ------ ------ ----
Waste & Scrap Materials 5,299 5,319 -0.4% 10,515 10,914 -3.7%
----------------------- ----- ----- ---- ------ ------ ----
Food or Kindred Products 4,872 4,849 0.5% 9,255 9,770 -5.3%
------------------------ ----- ----- --- ----- ----- ----
Forest Products 4,053 4,325 -6.3% 8,328 8,888 -6.3%
--------------- ----- ----- ---- ----- ----- ----
Petroleum 2,803 3,379 -17.0% 5,697 6,873 -17.1%
--------- ----- ----- ----- ----- ----- -----
Other 2,296 2,487 -7.7% 4,682 5,370 -12.8%
----- ----- ----- ---- ----- ----- -----
Motor Vehicles 769 1,144 -32.8% 1,699 2,380 -28.6%
-------------- --- ----- ----- ----- ----- -----
TOTAL 69,776 70,967 -1.7% 141,857 144,802 -2.0%
----- ------ ------ ---- ------- ------- ----
Less TNHR, WGCR & COEH* (563) 0 (563) 0
----------------------- ---- --- ---- ---
Same Railroad 69,213 70,967 -2.5% 141,294 144,802 -2.4%
------------- ------ ------ ---- ------- ------- ----
* Three Notch Railroad (TNHR), Wiregrass Central Railroad (WGCR), and Conecuh Valley Railroad (COEH)
SOURCE RailAmerica, Inc.