Canadian National Railway Full Year 2023 Earnings: EPS Beats Expectations

Simply Wall St

February 06, 2024

Canadian National Railway (TSE:CNR) Full Year 2023 Results

Key Financial Results

Revenue: CA$16.8b (down 1.6% from FY 2022).
Net income: CA$5.63b (up 9.9% from FY 2022).
Profit margin: 33% (up from 30% in FY 2022). The increase in margin was driven by lower expenses.
EPS: CA$8.55 (up from CA$7.46 in FY 2022).

revenue-and-expenses-breakdown — TSX:CNR Revenue and Expenses Breakdown February 6th 2024

All figures shown in the chart above are for the trailing 12 month (TTM) period

Canadian National Railway EPS Beats Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 18%.

The primary driver behind last 12 months revenue was the Canada segment contributing a total revenue of CA$11.6b (69% of total revenue). The largest operating expense was Depreciation & Amortisation (D&A) costs, amounting to CA$1.82b (48% of total expenses). Explore how CNR's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Transportation industry in North America.

Performance of the market in Canada.

The company's shares are up 2.1% from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 1 warning sign for Canadian National Railway that you need to be mindful of.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.