+- Dividend Growth Forum (http://DividendGrowthForum.com)
+-- Forum: Dividend Growth Investing (http://DividendGrowthForum.com/forumdisplay.php?fid=15)
+--- Forum: Individual Dividend Growth Stocks (http://DividendGrowthForum.com/forumdisplay.php?fid=35)
+--- Thread: Canadian National (/showthread.php?tid=1155)
Canadian National - Roadmap2Retire - 04-21-2015
Canadian National saved by the strong dollar in Q1 2015.
Headline appears to be good news all around
Quote:Canadian National Railway (NYSE:CNI): Q1 EPS of C$0.86 beats by C$0.01.
Revenue of C$3.1B (+15.2% Y/Y) beats by C$40M.
But reading through the details, it appears that the good numbers are thanks to a strong US$
Quote:Foreign currency impact on results
Although CN reports its earnings in Canadian dollars, a large portion of its revenues and expenses is denominated in U.S. dollars. The fluctuation of the Canadian dollar relative to the U.S. dollar affects the conversion of the Company's U.S.-dollar-denominated revenues and expenses. On a constant currency basis, CN's net income for the first quarter of 2015 would have been lower by C$56 million, or C$0.07 per diluted share.
http://seekingalpha.com/pr/13197456-cn-reports-q1minus-2015-net-income-of-c-704-million-or-c-0_86-per-diluted-share
According to their last annual report, revenue diversification is 32% US and 68% Canada.
RE: Canadian National - earthtodan - 04-21-2015
Maybe, but change in net income is not the same as change in sales. Net income and sales could go different directions for any number of reasons.