CN’s 2Q15 EPS of $1.15/share beat consensus ($1.05/share) and our $1.03/share forecast. Revenues were down in three of seven business lines and down 0.5% overall, but CN cut operating costs by 5% and posted a record operating ratio of 56.4%. By posting a record operating ratio despite a decline in revenues, CN has demonstrated that it can cut costs rapidly in a contracting business environment.
21 Jul 2015
CN (CNR) 2Q15 Adj. EPS of $1.15 Beats Consensus/FCC Estimates, Increased 12MTP to $85/ share, Maintain Market Perform Ranking
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CN (CNR) 2Q15 Adj. EPS of $1.15 Beats Consensus/FCC Estimates, Increased 12MTP to $85/ share, Maintain Market Perform Ranking
Canadian National Railway Company (CNR:TSE) | 0 0 (-0.4%) | Mkt Cap: 71,463m
- Published:
21 Jul 2015 -
Author:
Steven I. Paget -
Pages:
8
CN’s 2Q15 EPS of $1.15/share beat consensus ($1.05/share) and our $1.03/share forecast. Revenues were down in three of seven business lines and down 0.5% overall, but CN cut operating costs by 5% and posted a record operating ratio of 56.4%. By posting a record operating ratio despite a decline in revenues, CN has demonstrated that it can cut costs rapidly in a contracting business environment.