CNI Q4 2022 Earnings Report — Canadian National Railway Company Revenue & Financial Results | Market Cap Arena

Canadian National Railway CompanyCNI

Q4 2022 Earnings

Reported January 31, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q4 2022	Q3 2022	Q4 2021	QoQ Change	YoY Change
Revenue	$3.3B	$3.3B	$2.7B	0.6%	21.0%
Op. Income	$1.4B	$1.4B	$1.1B	-1.0%	22.1%
Gross Margin	44.6%	45.8%	45.1%	-1.2pp	-0.4pp
Net Margin	31.3%	32.2%	31.9%	-1.0pp	-0.7pp
EPS (Diluted)	$1.53	$1.56	$1.24	-1.4%	23.5%
Free Cash Flow	$988M	$1000M	$856M	-1.2%	15.4%

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	$175M
Operating Expenses	$85M
Cost & Expenses	$1.9B
OPERATING INCOME	$1.4B
Interest Income	$0
Interest Expense	$112M
Other Income/Expenses	-$23M
INCOME BEFORE TAX	$1.4B
Income Tax Expense	$337M
Net Income from Continuing Ops	$1.0B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.0B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.0B
D&A	$330M
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	$175M
Operating Expenses	$85M
Cost & Expenses	$1.9B
OPERATING INCOME	$1.4B
Interest Income	$0
Interest Expense	$112M
Other Income/Expenses	-$23M
INCOME BEFORE TAX	$1.4B
Income Tax Expense	$337M
Net Income from Continuing Ops	$1.0B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.0B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.0B
D&A	$330M
EBIT	$1.5B
EBITDA	$1.8B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$1.0B
Depreciation & Amortization	$330M
Stock-Based Compensation	$0
Deferred Income Tax	$137M
Other Non-Cash Items	-$92M
Change in Working Capital	$248M
OPERATING CASH FLOW	$1.7B
Capital Expenditure	-$672M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$12M
NET CASH FROM INVESTING	-$685M
Net Debt Issuance	$189M
Common Stock Repurchased	-$884M
Common Dividends Paid	-$360M
Other Financing Activities	$29M
NET CASH FROM FINANCING	-$1.0B
FREE CASH FLOW	$988M
Net Change in Cash	-$53M

Balance Sheet

Item	Amount
Cash & Equivalents	$240M
Short-Term Investments	$0
Net Receivables	$1.0B
Inventory	$506M
Other Current Assets	$434M
TOTAL CURRENT ASSETS	$2.4B
PP&E (Net)	$32.2B
Goodwill	$51M
Intangible Assets	$100M
Long-Term Investments	$69M
Tax Assets	$0
Other Non-Current Assets	$2.3B
TOTAL NON-CURRENT ASSETS	$34.7B
TOTAL ASSETS	$37.0B
Account Payables	$697M
Short-Term Debt	$772M
Deferred Revenue	$9M
Other Current Liabilities	$76M
TOTAL CURRENT LIABILITIES	$2.8B
Long-Term Debt	$10.5B
Deferred Revenue NC	$12M
Deferred Tax Liabilities	$7.2B
Other Non-Current Liabilities	$666M
TOTAL NON-CURRENT LIABILITIES	$18.6B
TOTAL LIABILITIES	$21.4B
Common Stock	$2.6B
Additional Paid-In Capital	$278M
Retained Earnings	$14.3B
Treasury Stock	-$124M
Accum. Other Comp. Income	-$1.4B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$15.6B
Minority Interest	$0
TOTAL EQUITY	$15.6B
TOTAL LIABILITIES & EQUITY	$37.0B
Total Debt	$11.6B
Net Debt	$11.4B