In an update on its activities in the first quarter of 2015, G&W’s said traffic had been weaker than expected owning to severe winter weather in North America, as well as weakness in commodity groups including steam coal and metals. G&W expects total revenues in the first quarter to be $375m, or $25m below guidance provided on February 10, and costs to be $5m higher as a result of the winter conditions. As a result of these factors, G&W expects net income in the first quarter of 2015 to be approximately $10m below its previous guidance.