Canadian National

[Roadmap2Retire]

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-r...uted-share

According to their last annual report, revenue diversification is 32% US and 68% Canada.

[earthtodan]

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.