JACKSONVILLE, Fla., June 12, 2012 /PRNewswire/ -- RailAmerica, Inc. (NYSE: RA) today reported that its total freight carloads for the month ended May 31, 2012 were 75,384, up 8% from 69,776 in May 2011.
The Company increased shipments in May 2012 in eight out of twelve commodity groups compared to May 2011. The largest increases were in Coal, Forest Products and Motor Vehicles. May 2012 Coal shipments compared favorably to May 2011 levels largely due to last year's flooding-related service disruptions on the Missouri & Northern Arkansas Railroad (MNA). Forest Products volumes were up in all regions. Motor Vehicles were up primarily due to increased carloads in the Midwest and West regions.
The largest declines were in Pulp, Paper & Allied Products and Metallic Ores and Metals. Pulp, Paper & Allied decreased primarily due to lower shipments in the Northeast region. Metallic Ores and Metals were lower primarily due to fewer shipments in the Northeast region.
May 2012 carloads include 2,194 carloads from the acquisition of three railroads in Alabama in 2011, the Wellsboro and Corning Railroad (WCOR), and Marquette Railroad (MQTR). RailAmerica completed its acquisition of a 70% interest in the WCOR on April 9, 2012. All of the carloads moved by the WCOR from April 9th are included in RailAmerica's consolidated carload numbers. RailAmerica completed its acquisition of the MQTR on May 1, 2012. On a "same railroad" basis, carloads increased 5.7%.
April 2012 carloads have been restated in the quarter to date table in this release to account for an intercompany elimination on the WCOR of 374 carloads. April 2012 carloads were 71,562 a 0.7% decrease from April 2011.
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.
Non-Metallic Minerals and Products
Metallic Ores and Metals
Pulp, Paper & Allied Products
Waste & Scrap Materials
Food or Kindred Products
Less TNHR, WGCR & COEH, WCOR and MQTR*
* Three Notch Railroad (TNHR), Wiregrass Central Railroad (WGCR), Conecuh Valley Railroad (COEH),Wellsboro and Corning Railroad (WCOR), and Marquette Railroad (MQTR). Represents 100% of WCOR carloads. TNHR, WGCR and COEH acquired May 11, 2011.
SOURCE RailAmerica, Inc.