CN Operating Income Up 22% in 2022

Canadian National said on Tuesday that its operating income in 2022 rose 22 percent to $6.8 billion.

CN officials said revenue increased 18 percent, to $17 billion while adjusted earnings per share rose by 25 percent.

The operating ratio was 60 percent, a 1.2-point improvement over 2021, or 59.9 percent on an adjusted basis.

Traffic volume for 2022 was up 1 percent when measured by revenue ton-miles but was down 0.5 percent when measured by carloads.

During the fourth quarter, operating income rose 22 percent, to 1.9 billion with revenue increasing 21 percent, to $4.5 billion.

Earnings per share was up 24 percent, or 23 percent on an adjusted basis. The operating ratio improved 0.4 points to 57.9 percent.

Quarterly volume was up 6 percent on a revenue ton-mile basis, or 2.4 percent on a carload basis.

In looking ahead CN CEO Tracy Robinson said the railroad faces an uncertain outlook for 2023 due to a potential economic downturn.

Speaking during a financial call with investors, Robinson expects freight volume to outperform North American industrial production this year but see a decline of 0.5 percent due to a slowing economy.

CN executives expect bulk traffic such as grain and coal to remain strong through the first half of this year and thus provide a cushion against declines in other traffic.

Tags: , , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.


%d bloggers like this: