CNI Q3 2021 Earnings Report — Canadian National Railway Company Revenue & Financial Results | Market Cap Arena

Canadian National Railway CompanyCNI

Q3 2021 Earnings

Reported October 19, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2021	Q2 2021	Q3 2020	QoQ Change	YoY Change
Revenue	$2.6B	$2.6B	$2.5B	-0.2%	5.3%
Op. Income	$980M	$1.0B	$998M	-3.0%	-1.8%
Gross Margin	42.4%	42.0%	43.4%	0.5pp	-1.0pp
Net Margin	47.0%	28.8%	28.9%	18.2pp	18.1pp
EPS (Diluted)	$1.73	$1.07	$1.01	62.3%	71.7%
Free Cash Flow	$1.2B	$545M	$387M	117.4%	206.6%

Revenue Flow

Item	Amount
REVENUE	$2.6B
Cost of Revenue	$1.5B
GROSS PROFIT	$1.1B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	-$72M
SG&A Expenses	-$72M
Other Expenses	$205M
Operating Expenses	$134M
Cost & Expenses	$1.6B
OPERATING INCOME	$980M
Interest Income	$0
Interest Expense	$144M
Other Income/Expenses	$555M
INCOME BEFORE TAX	$1.5B
Income Tax Expense	$303M
Net Income from Continuing Ops	$1.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.2B
D&A	$296M
EBIT	$1.7B
EBITDA	$2.0B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$2.6B
Cost of Revenue	$1.5B
GROSS PROFIT	$1.1B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	-$72M
SG&A Expenses	-$72M
Other Expenses	$205M
Operating Expenses	$134M
Cost & Expenses	$1.6B
OPERATING INCOME	$980M
Interest Income	$0
Interest Expense	$144M
Other Income/Expenses	$555M
INCOME BEFORE TAX	$1.5B
Income Tax Expense	$303M
Net Income from Continuing Ops	$1.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.2B
D&A	$296M
EBIT	$1.7B
EBITDA	$2.0B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$1.2B
Depreciation & Amortization	$296M
Stock-Based Compensation	$0
Deferred Income Tax	$79M
Other Non-Cash Items	$73M
Change in Working Capital	$117M
OPERATING CASH FLOW	$1.8B
Capital Expenditure	-$611M
Acquisitions (Net)	$647M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$6M
NET CASH FROM INVESTING	$31M
Net Debt Issuance	-$295M
Common Stock Repurchased	-$76M
Common Dividends Paid	-$318M
Other Financing Activities	$26M
NET CASH FROM FINANCING	-$664M
FREE CASH FLOW	$1.2B
Net Change in Cash	$1.2B

Balance Sheet

Item	Amount
Cash & Equivalents	$1.5B
Short-Term Investments	$0
Net Receivables	$702M
Inventory	$358M
Other Current Assets	$177M
TOTAL CURRENT ASSETS	$2.8B
PP&E (Net)	$23.7B
Goodwill	$0
Intangible Assets	$248M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$689M
TOTAL NON-CURRENT ASSETS	$24.7B
TOTAL ASSETS	$27.5B
Account Payables	$1.3B
Short-Term Debt	$768M
Deferred Revenue	$0
Other Current Liabilities	$1M
TOTAL CURRENT LIABILITIES	$2.0B
Long-Term Debt	$7.1B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$5.0B
Other Non-Current Liabilities	$692M
TOTAL NON-CURRENT LIABILITIES	$13.0B
TOTAL LIABILITIES	$15.0B
Common Stock	$2.1B
Additional Paid-In Capital	$219M
Retained Earnings	$12.1B
Treasury Stock	-$60M
Accum. Other Comp. Income	-$1.9B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$12.5B
Minority Interest	$0
TOTAL EQUITY	$12.5B
TOTAL LIABILITIES & EQUITY	$27.5B
Total Debt	$8.1B
Net Debt	$6.5B