CN Q4 net income increased 11 percentStaff writer ▼ | January 26, 2016
Canadian National Railway Company (CN) reported its results for the fourth quarter and year ended December 31, 2015.
Canadian National Railway Diluted EPS increased 15 percent to C$1.18
Full year net income increased 12 percent.
Revenues decreased by one percent to C$3,166 million. Carloadings declined eight percent, and revenue ton-miles declined five percent. The operating ratio improved by 3.5 points to 57.2 percent.
Full-year 2015 financial highlights
Net income increased 12 percent to C$3,538 million, with diluted EPS rising 14 percent to C$4.39. Adjusted net income increased 16 percent to C$3,580 million, while adjusted diluted EPS increased 18 percent to C$4.44. Operating income rose 14 percent to C$5,266 million.
Revenues increased four percent to C$12,611 million. Carloadings declined two percent, and revenue ton-miles decreased three percent. The operating ratio for 2015 improved by 3.7 points to 58.2 percent. Free cash flow was a record C$2,373 million, compared with C$2,220 million for 2014.
The board has approved a 20 percent increase in the company's quarterly cash dividend. With this increase, CN's dividend on an annualized basis is C$1.50 per common share. ■