CNI Q3 2019 Earnings Report — Canadian National Railway Company Revenue & Financial Results | Market Cap Arena

Canadian National Railway CompanyCNI

Q3 2019 Earnings

Reported October 22, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2019	Q2 2019	Q3 2018	QoQ Change	YoY Change
Revenue	$2.8B	$2.9B	$2.7B	-3.3%	3.9%
Op. Income	$1.2B	$1.2B	$1.1B	-4.1%	8.1%
Gross Margin	44.6%	45.4%	43.4%	-0.8pp	1.1pp
Net Margin	31.2%	34.4%	30.7%	-3.2pp	0.5pp
EPS (Diluted)	$1.21	$1.37	$1.13	-11.7%	7.8%
Free Cash Flow	$534M	$390M	$411M	37.1%	30.1%

Revenue Flow

Item	Amount
REVENUE	$2.8B
Cost of Revenue	$1.6B
GROSS PROFIT	$1.2B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	-$59M
SG&A Expenses	-$59M
Other Expenses	$128M
Operating Expenses	$69M
Cost & Expenses	$1.6B
OPERATING INCOME	$1.2B
Interest Income	$0
Interest Expense	$99M
Other Income/Expenses	-$20M
INCOME BEFORE TAX	$1.2B
Income Tax Expense	$285M
Net Income from Continuing Ops	$873M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$873M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$873M
D&A	$272M
EBIT	$1.3B
EBITDA	$1.5B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$2.8B
Cost of Revenue	$1.6B
GROSS PROFIT	$1.2B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	-$59M
SG&A Expenses	-$59M
Other Expenses	$128M
Operating Expenses	$69M
Cost & Expenses	$1.6B
OPERATING INCOME	$1.2B
Interest Income	$0
Interest Expense	$99M
Other Income/Expenses	-$20M
INCOME BEFORE TAX	$1.2B
Income Tax Expense	$285M
Net Income from Continuing Ops	$873M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$873M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$873M
D&A	$272M
EBIT	$1.3B
EBITDA	$1.5B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$873M
Depreciation & Amortization	$272M
Stock-Based Compensation	$6M
Deferred Income Tax	$208M
Other Non-Cash Items	-$14M
Change in Working Capital	-$108M
OPERATING CASH FLOW	$1.2B
Capital Expenditure	-$702M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$23M
NET CASH FROM INVESTING	-$725M
Net Debt Issuance	$215M
Common Stock Repurchased	-$300M
Common Dividends Paid	-$281M
Other Financing Activities	-$20M
NET CASH FROM FINANCING	-$387M
FREE CASH FLOW	$534M
Net Change in Cash	$124M

Balance Sheet

Item	Amount
Cash & Equivalents	$189M
Short-Term Investments	$0
Net Receivables	$908M
Inventory	$444M
Other Current Assets	$696M
TOTAL CURRENT ASSETS	$2.2B
PP&E (Net)	$29.2B
Goodwill	$0
Intangible Assets	$255M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$573M
TOTAL NON-CURRENT ASSETS	$30.0B
TOTAL ASSETS	$32.2B
Account Payables	$1.4B
Short-Term Debt	$1.6B
Deferred Revenue	$0
Other Current Liabilities	$194M
TOTAL CURRENT LIABILITIES	$3.1B
Long-Term Debt	$8.4B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$6.9B
TOTAL NON-CURRENT LIABILITIES	$15.6B
TOTAL LIABILITIES	$18.7B
Common Stock	$2.7B
Additional Paid-In Capital	$287M
Retained Earnings	$12.8B
Treasury Stock	-$114M
Accum. Other Comp. Income	-$2.3B
Other Equity	$114M
TOTAL STOCKHOLDERS' EQUITY	$13.5B
Minority Interest	$0
TOTAL EQUITY	$13.5B
TOTAL LIABILITIES & EQUITY	$32.2B
Total Debt	$10.4B
Net Debt	$10.2B