CNI Q3 2022 Earnings Report — Canadian National Railway Company Revenue & Financial Results | Market Cap Arena

Canadian National Railway CompanyCNI

Q3 2022 Earnings

Reported September 29, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2022	Q2 2022	Q3 2021	QoQ Change	YoY Change
Revenue	$3.3B	$3.2B	$2.6B	3.9%	25.7%
Op. Income	$1.4B	$1.3B	$980M	9.2%	44.1%
Gross Margin	45.8%	44.3%	42.4%	1.5pp	3.4pp
Net Margin	32.2%	30.5%	47.0%	1.7pp	-14.7pp
EPS (Diluted)	$1.56	$1.40	$1.73	10.9%	-10.1%
Free Cash Flow	$1000M	$735M	$1.2B	36.0%	-15.7%

Revenue Flow

Item	Amount
REVENUE	$3.3B
Cost of Revenue	$1.8B
GROSS PROFIT	$1.5B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	-$91M
SG&A Expenses	-$91M
Other Expenses	$190M
Operating Expenses	$99M
Cost & Expenses	$1.9B
OPERATING INCOME	$1.4B
Interest Income	$0
Interest Expense	$103M
Other Income/Expenses	-$12M
INCOME BEFORE TAX	$1.4B
Income Tax Expense	$336M
Net Income from Continuing Ops	$1.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.1B
D&A	$318M
EBIT	$1.5B
EBITDA	$1.8B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$3.3B
Cost of Revenue	$1.8B
GROSS PROFIT	$1.5B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	-$91M
SG&A Expenses	-$91M
Other Expenses	$190M
Operating Expenses	$99M
Cost & Expenses	$1.9B
OPERATING INCOME	$1.4B
Interest Income	$0
Interest Expense	$103M
Other Income/Expenses	-$12M
INCOME BEFORE TAX	$1.4B
Income Tax Expense	$336M
Net Income from Continuing Ops	$1.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.1B
D&A	$318M
EBIT	$1.5B
EBITDA	$1.8B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$1.1B
Depreciation & Amortization	$318M
Stock-Based Compensation	$11M
Deferred Income Tax	$79M
Other Non-Cash Items	-$4M
Change in Working Capital	$77M
OPERATING CASH FLOW	$1.5B
Capital Expenditure	-$544M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$9M
NET CASH FROM INVESTING	-$552M
Net Debt Issuance	$105M
Common Stock Repurchased	-$855M
Common Dividends Paid	-$364M
Other Financing Activities	$37M
NET CASH FROM FINANCING	-$1.1B
FREE CASH FLOW	$1000M
Net Change in Cash	-$83M

Balance Sheet

Item	Amount
Cash & Equivalents	$295M
Short-Term Investments	$0
Net Receivables	$1.1B
Inventory	$516M
Other Current Assets	$464M
TOTAL CURRENT ASSETS	$2.5B
PP&E (Net)	$32.1B
Goodwill	$0
Intangible Assets	$310M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$2.5B
TOTAL NON-CURRENT ASSETS	$34.9B
TOTAL ASSETS	$37.4B
Account Payables	$1.9B
Short-Term Debt	$579M
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$2.5B
Long-Term Debt	$10.7B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$7.2B
Other Non-Current Liabilities	$768M
TOTAL NON-CURRENT LIABILITIES	$18.9B
TOTAL LIABILITIES	$21.3B
Common Stock	$2.6B
Additional Paid-In Capital	$276M
Retained Earnings	$14.3B
Treasury Stock	-$64M
Accum. Other Comp. Income	-$1.1B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$16.1B
Minority Interest	$0
TOTAL EQUITY	$16.1B
TOTAL LIABILITIES & EQUITY	$37.4B
Total Debt	$11.5B
Net Debt	$11.2B