JACKSONVILLE, Fla., Aug. 13, 2012 /PRNewswire/ -- RailAmerica, Inc. (NYSE: RA) today reported that its total freight carloads for the month ended July 31, 2012 were 72,433, up 5.4% from 68,727 in July 2011.
The Company increased shipments in July 2012 in eight out of twelve commodity groups compared to July 2011. The largest increases were in Other, Motor Vehicles and Petroleum. Other volumes were up primarily due to more shipments in the Northeast region. The Other category includes crude oil, which accounted for a large portion of the increase from prior year. Motor Vehicles increased primarily due to higher shipments in the Midwest region. Petroleum carloads increased primarily due to higher volumes in the West and Midwest regions.
The largest declines were in Metallic Ores and Metals and Food or Kindred Products. Metallic Ores and Metals were lower primarily due to reduced shipments in the Northeast and Southeast regions. Food or Kindred Products decreased primarily due to lower shipments in the Midwest region.
July 2012 carloads include 1,598 carloads from acquisitions. On a "same railroad" basis, carloads increased 3.1%.
RailAmerica, Inc. owns and operates short-line and regional freight railroads in North America, operating a portfolio of 45 individual railroads with approximately 7,500 miles of track in 28 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.
Vice President & Treasurer
Carload Comparisons by Commodity Group
Month Ended July 31, 2012 and 2011, respectively
Non-Metallic Minerals and Products
Pulp, Paper & Allied Products
Metallic Ores and Metals
Waste & Scrap Materials
Food or Kindred Products
Less WCOR and MQTR*
* Wellsboro and Corning Railroad (WCOR), and Marquette Railroad (MQTR). Represents 100% of WCOR carloads.
** July 2012 carloads exclude 504 carloads from WCOR that are eliminated as part of an intercompany transaction between WCOR and TransRail North America, a transload entity.
SOURCE RailAmerica, Inc.