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Highlights
- Canadian National Railway is trending on the stock market in light of its fourth-quarter results for fiscal 2021, released after market close on Tuesday, January 25.
- The railroad company, which currently has a return on equity (ROE) of 23.67 per cent, recorded diluted earnings per share (EPS) of C$ 1.69 apiece, up 18 per cent from the prior-year quarter.
- In addition, the railroad operator also stated that its Board of Directors approved a share repurchase and a dividend hike of 19 per cent for the year 2022.
Canadian National Railway is trending on the stock market in light of its fourth-quarter results for fiscal 2021 released after market close on Tuesday, January 25. Canadian National Railway, also known as CN, is one of the leading transportation service companies with a railroad network spread across North America.
So, let us glance at CN’s financial and operating results in detail.
Canadian National’s (TSX:CNR) performance in Q4 FY2021
The Montreal-headquartered railway giant saw its fourth-quarter revenue at C$ 3.75 billion in the fiscal year 2021, a surge of C$ 97 million year-over-year (YoY).
CN reported operating revenue of C$ 1.56 billion in the latest quarter, up by 11 per cent YoY. On the other hand, its adjusted operating income jumped by 12 per cent YoY to C$ 1.57 billion in Q4 FY2021.
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The railroad company, which currently has a return on equity (ROE) of 23.67 per cent, recorded diluted earnings per share (EPS) of C$ 1.69 apiece, 18 per cent up from the prior-year quarter. CN posted an increase of 20 per cent YoY to C$ 1.71 apiece in its fourth quarter’s adjusted diluted EPS.
Image source: ©2022 Kalkine Media®
Data source: Canadian National Railway Company
In addition, the railroad operator also stated that its Board of Directors approved a share repurchase and a dividend hike of 19 per cent for the year 2022. CN is scheduled to pay a quarterly dividend of C$ 0.733 per share on March 31.
Canadian National Railway’s stock performance
Stocks of Canadian National closed at C$ 150.56 apiece on Wednesday, January 26, with 3.2 million shares exchanging hands. The railroad scrip expanded by nearly 13 per cent in the past six months.
Bottom line
Canadian National Railway expects its adjusted diluted EPS to increase by 20 per cent in 2022. The railway company is also planning to invest about 17 per cent of its revenues in its capital program this year.
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