04-21-2015, 09:48 AM
Canadian National saved by the strong dollar in Q1 2015.
Headline appears to be good news all around
But reading through the details, it appears that the good numbers are thanks to a strong US$
http://seekingalpha.com/pr/13197456-cn-r...uted-share
According to their last annual report, revenue diversification is 32% US and 68% Canada.
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-r...uted-share
According to their last annual report, revenue diversification is 32% US and 68% Canada.