JACKSONVILLE, Fla., April 11, 2012 /PRNewswire/ -- RailAmerica, Inc. (NYSE: RA) today reported that its total freight carloads in March 2012 were 74,414, down 3.0% from 76,732 in March 2011.
The Company increased shipments in March 2012 in four out of twelve commodity groups compared to March 2011. The largest increases were in Motor Vehicles, Metallic Ores and Metals, and Forest Products. Motor Vehicles were up primarily due to increased carloads in the Midwest and West regions. Metallic Ores and Metals increased primarily due to higher shipments in the Northeast, Southeast and Central regions. Forest Products were higher primarily due to increased shipments in the West region.
The largest declines were in Non-Metallic Minerals and Products, Coal and Chemicals. Non-Metallic Minerals and Products carloads decreased primarily due to lower shipments in the Northeast, Southeast and Central regions. Coal carloads were lower primarily due to fewer shipments in the Central U.S. Chemicals were down primarily due to lower shipments in the Northeast region.
March 2012 carloads include 662 carloads from the acquisition of three railroads in Alabama. On a "same railroad" basis, carloads decreased 3.9%.
RailAmerica, Inc. owns and operates short-line and regional freight railroads in North America, operating a portfolio of 44 individual railroads with approximately 7,400 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.
Carload Comparisons by Commodity Group
Month and Quarter Ended March 31, 2012 and 2011, respectively
Metallic Ores and Metals
Non-Metallic Minerals and Products
Pulp, Paper & Allied Products
Waste & Scrap Materials
Food or Kindred Products
Less TNHR, WGCR & COEH*
* Three Notch Railroad (TNHR), Wiregrass Central Railroad (WGCR), and Conecuh Valley Railroad (COEH)
SOURCE RailAmerica, Inc.