CN reports positive Q4 and end-of-year earnings
North American cargo transporter rail company CN has reported positive financial and operating results for the fourth quarter and year ended Dec. 31, 2...
North American cargo transporter rail company CN has reported positive financial and operating results for the fourth quarter and year ended Dec. 31, 2...
North American cargo transporter rail company CN has reported positive financial and operating results for the fourth quarter and year ended Dec. 31, 2012.
Transportation company CN have released positive earnings for the fourth quarter and the year of 2012, showing a ten percent increase in revenues over the past year.
During 2012 all business units registered gains within the company, which recorded a 15 percent rise in the petroleum and chemicals sector, coal sector, a 15 percent rise in metals and minerals, 11 percent rise in intermodal and automotive with forest products and grain and fertilisers rising by five and four percent respectively.
Key Points
Claude Mongeau, president and chief executive officer, said: “CN's team of railroaders delivered impressive fourth-quarter results on the strength of a seven per cent increase in revenues, capping a very strong 2012 performance.
“Thanks to our supply chain collaboration focus and solid execution, CN's growth last year continued to outpace that of the overall economy, generating the highest volumes and earnings in Company history.
“In 2012, we experienced strong growth in commodities related to oil and gas, particularly crude oil, and saw continued market share gains in overseas and domestic intermodal. CN also benefited from strong coal and petroleum coke exports, increased wheat and soybean exports, as well as higher lumber and
Fourth-quarter 2012 revenues, traffic volumes and expenses
Revenues for the fourth quarter of 2012 increased by seven per cent to C$2,534 million. Revenues increased for coal (15 per cent), petroleum and chemicals (13 per cent), grain and fertilizers (11 per cent), intermodal (seven per cent), and automotive (five per cent). Revenues declined for forest products (two per cent), and metals and minerals (one per cent).
Full-year 2012 revenues, traffic volumes and expenses
2012 revenues increased 10 per cent to C$9,920 million, with all business units registering gains:
The rise in total revenues was largely attributable to higher freight volumes, due in part to growth in North American and Asian economies, and the Company's performance above market conditions in a number of segments, as well as increased volumes in the second quarter as a result of a labor disruption at a key competitor; freight rate increases; the impact of a higher fuel surcharge as a result of year-over-year increases in applicable fuel prices and higher volumes; and the positive translation impact of the weaker Canadian dollar on U.S. dollar-denominated revenues.