4th Quarter 2019 Net Earnings: Increased 4% to $1.42 billion from $1.37 billion Earnings Per Share: n/a – BNSF is not publicly traded Revenue: Decreased 6% to $5.84 billion from $6.21 billion Operating Income: Increased 2% to $2.11 billion from $2.06 billion Operating Expenses: Decreased 10% to $3.73 billion from $4.14 billion Operating Ratio: Improved to 62.8% from 65.6%
2019 Annual Earnings Net Earnings: Increased 5% to $5.5 billion from $5.2 billion Earnings Per Share: n/a – BNSF is not publicly traded Revenue: Decreased 1% to $23.5 billion from $23.9 billion Operating Income: Increased 3% to $8.1 billion from $7.8 billion Operating Expenses: Decreased 4% to $15.4 billion from $16.1 billion Operating Ratio: Improved to 64.5% from 66.2%
4th Quarter 2019 Net Earnings: Decreased 24% to C$873 million from C$1.14 billion Earnings Per Share: Diluted earnings per share decreased 22% to $1.22 from $1.56 Revenue: Decreased 6% to C$3.6 billion from C$3.8 billion Operating Income: Decreased 16% to C$1.22 billion from C$1.45 billion Operating Expenses: Increased to C$2.36 billion from C$2.35 billion Operating Ratio: Worsened by 4.1 points to 66% from 61.9%
2019 Annual Earnings Net Earnings: Decreased 3% to C$4.2 billion from C$4.3 billion Earnings Per Share: Diluted Earnings Per Share decreased 1% to $5.83 from $5.87 Revenue: Increased 4% to C$14.9 billion from C$14.3 billion Operating Income: Increased 2% to C$4.6 billion from C$5.5 billion Operating Expenses: Increased from C$8.8 billion to C$9.3 billion Operating Ratio: Worsened 0.9 points to 62.5% from 61.6%
4th Quarter 2019 Net Earnings: Increased 22% to C$664 million from C$545 million Earnings Per Share: Diluted earnings per share improved 26% to $4.82 from $3.83 Revenue: Increased 3% to C$2.07 billion from C$2.01 billion Operating Income: Increased 2% to C$890 million from C$874 million Operating Expenses: Increased 4% to C$1.18 billion from C$1.13 billion Operating Ratio: Worsened 50 basis points to 57.0% from 56.5%
2019 Annual Earnings Net Earnings: Increased 25% to C$2.44 billion from C$1.95 billion Earnings Per Share: Diluted EPS increased 29% to a record $17.52 from $13.61 Revenue: Increased 7% to a record C$7.79 billion from C$7.32 billion Operating Income: Increased 10% to C$3.12 billion from C$2.83 billion Operating Expenses: Increased 4% to C$4.65 billion from C$4.49 billion Operating Ratio: Improved 140 basis points to 59.9% from 61.3%
4th Quarter 2019 Net Earnings: Decreased 9% from $848 million to $771 million Earnings Per Share: Decreased from $1.01 to $0.99 per share Revenue: Decreased 8% to $2.89 billion from $3.14 billion Operating Income: Decreased 8% to $1.15 billion from $1.25 billion Operating Expenses: Decreased 9% to $1.73 billion from $1.9 billion Operating Ratio: A fourth-quarter record of 60.0%, down from 60.3%
2019 Annual Earnings Net Earnings: Increased 1% to $3.33 billion from $3.31 billion Earnings Per Share: Increased 9% to $4.17 per share from $3.84 per share Revenue: Decreased 3% to $11.94 billion from $12.25 billion Operating Income: Increased 2% to $4.97 billion from $4.87 billion Operating Expenses: Decreased 6% to $6.97 billion from $7.38 billion Operating Ratio: A U.S. Class I railroad record of 58.4%, down from 60.3%
4th Quarter 2019 Net Earnings: Decreased to $127.9 million from $161.8 million Earnings Per Share: Decreased 18% to $1.30 per diluted share from $1.59 per diluted share Revenue: Increased 5% to $729.5 million from $694.0 million Operating Income: Decreased to $236.0 million from $256.4 million Operating Expenses: Increased to $493.5 million from $437.6 million Operating Ratio: Worsened 450 basis points to 67.6% from 63.1%
2019 Annual Earnings Net Earnings: Decreased to $540.8 million from $629.4 million Earnings Per Share: Decreased 12% to $5.40 per diluted share from $6.13 per diluted share Revenue: Increased 6% to $2.9 billion from $2.7 billion Operating Income: Decreased to $886.3 million from $986.3 million Operating Expenses: Increased to $1.98 billion from $1.73 billion Operating Ratio: Worsened 540 basis points to 69.1% from 63.7%
4th Quarter 2019 Net Earnings: Decreased 5% to $666 million from $702 million Earnings Per Share: Decreased 1% to $2.55 per diluted share from $2.57 per diluted share Revenue: Decreased 7% to 2.7 billion from $2.9 billion Operating Income: Decreased 11% to $1.0 billion from $1.1 billion Operating Expenses: Decreased 5% to $1.7 billion from $1.8 billion Operating Ratio: Worsened to 64.2% from 62.8%
2019 Annual Earnings Net Earnings: Increased 2% to $2.72 billion from $2.67 billion Earnings Per Share: Increased 8% to $10.25 per diluted share from $9.51 per diluted share Revenue: Decreased 1% to $11.3 billion from $11.5 billion Operating Income: Increased 1% to $3.989 billion from $3.959 billion Operating Expenses: Decreased 3% to $7.3 billion from $7.5 billion Operating Ratio: Improved to a record 64.7% from 65.4%
4th Quarter 2019 Net Earnings: Decreased 10% to $1.4 billion from $1.6 billion Earnings Per Share: Decreased 5% to $2.02 per diluted share from $2.12 per diluted share Revenue: Decreased 9% to $5.2 billion from $5.8 billion Operating Income: Decreased 5% to $2.1 billion from $2.2 billion Operating Expenses: Decreased 12% to $3.1 billion from $3.5 billion Operating Ratio: Increased 1.9 points to a record 59.7% from 61.6%
2019 Annual Earnings Net Earnings: Decreased 1% to $5.91 billion from $5.97 billion Earnings Per Share: Increased 6% to $8.38 per diluted share from $7.91 per diluted share Revenue: Decreased 5% to $21.7 billion from $22.8 billion Operating Income: Stayed flat at $8.6 billion Operating Expenses: Decreased 8% to $13.2 billion from $14.3 billion Operating Ratio: Decreased 2.1 points to 60.6% from 62.7%
Operating ratio is a railroad’s operating expenses expressed as a percentage of operating revenue, and is considered by economists to be the basic measure of carrier profitability. The lower the operating ratio, the more efficient the railroad.
All comparisons are made to 2018’s fourth quarter and annual financial results respectively for each railroad.
All figures for CN & CP are in Canadian currency, except for earnings per share
Net Earnings: $552 million or $5.33 per diluted share, compared with 2016’s $130 million or $1.21 per diluted share Revenue: 4th quarter record of $660 million, a 10 percent increase Operating Income: 4th quarter record of $238 million, a 13 percent increase Operating Ratio: 64.0 percent, 0.8 point improvement over fourth quarter 2016
2017 Annual Earnings
Net Earnings: $964 million or $9.16 per diluted share, as compared to 2016’s $480 million or $4.43 per diluted share Revenue: A record $2.6 billion, up 11 percent from 2016 Operating Income: A record $922 million, a 13 percent increase Operating Ratio: A record 64.3 percent, a 0.6 improvement
Net Earnings: Increased by 156 percent to C$2,611 million and diluted earnings per share increased by 164 percent to C$3.48 Revenue: Increased 2 percent to C$3,285 million Operating Income: Decreased by 7 percent to C$1,301 million Operating Ratio: 60.4 percent, an increase of 3.8 points
2017 Annual Earnings
Net Earnings: Increased 51 percent to C$5,484 million and diluted earnings per share increased 55 percent to C$7.24 Revenue: Increased 8 percent to C$13,041 million Operating Income: Increased 5 percent to C$5,558 million Operating Ratio: 57.4 percent, an increase of 1.5 points
Net Earnings: Increased 156 percent to a record C$984 million from C$384 million and diluted earnings per share increased by 159 percent to C$6.77 from C$2.61 Revenue: A record 4th quarter with an increase of 5 percent to C$1.71 billion, up from C$1.64 billion Operating Income: Increased 5 percent to C$753 million Operating Ratio: A record 56.1 percent, an improvement of 10 basis points
2017 Annual Earnings
Net Earnings: Increase of 50 percent to C$2.4 billion Revenue: Increased 5 percent to C$6.55 billion from C$6.23 billion Operating Income: Increased 8 percent to C$2.8 billion from C$2.6 billion Operating Ratio: Improved 40 basis-points to a record 58.2 percent from 58.6 percent
Net Earnings: $4.1 billion or $4.62 per share, up from $458 million or $0.49 per share Revenue: Decreased 6 percent to $2,863 million from $3,037 million Operating Income: Increased by 12 percent to $1.12 billion from $1.00 billion Operating Ratio: Improved 6.1 basis points to 60.9 percent from 67.0 percent
2017 Annual Earnings
Net Earnings: Increased 219% to $2.3 billion from $1.02 billion Revenue: Increased by 3 percent to $11.4 billion, up from $11.07 billion Operating Income: $3.7 billion, up 8 percent from $3.4 billion Operating Ratio: 67.9 percent, improvement from 69.4 percent
Net Earnings: Increased 17 percent to $3,968 million and diluted earnings per share (EPS) increased 19 percent to $13.79 (adjusted EPS is a record $1.69) Revenue: Increased 7 percent to $2,669 million from $2,490 million Operating Income: Increased 13 percent to $1,014 million from $761 million Operating Ratio: 62.0 percent, improved over 67.7 percent
2017 Annual Earnings
Net Earnings: Increased 15 percent to $5,404 million and increased 18 percent to a record diluted earnings per share of $18.61 (or $6.61 adjusted EPS) Revenue: Increased 7 percent to $10.6 billion from $9.89 billion Operating Income: Increased 12 percent to $3,586 million from $3,074 million Operating Ratio: Improved by 2 percent to a record 67.4 percent from 68.9 percent
Net Earnings: Increased to $7.3 billion or $9.25 per diluted share as compared to $1.1 billion or $1.39 per diluted share Revenue: Increased 5 percent to $5.5 billion from $5.2 billion Operating Income: Increased 4 percent to $2,039 million from $1,965 million Operating Ratio: Improved 0.6 points to 62.6 percent from 62.0 percent
2017 Annual Earnings
Net Earnings: $10.7 billion or $13.36 earnings per share, from $4.2 billion or $5.07 per diluted share Revenue: Increased to $21.2 billion from $19.9 billion Operating Income: $7.8 billion from $7.3 billion, an 8 percent increase Operating Ratio: Improved 0.5 points to 63 percent from 63.5 percent
Note: Operating ratio is a railroad’s operating expenses expressed as a percentage of operating revenue, and is considered by economists to be the basic measure of carrier profitability. The lower the operating ratio, the more efficient the railroad.
Net Earnings: $458 million or $0.49 per share, up from $466 million or $0.48 per share in 2015’s 4th quarter Revenue: Increased by 9 percent to $3,037 billion Operating Income: Increased to $1 billion over last year’s $791 million Operating Ratio: 67 percent, an improvement over last year’s 71.6 percent
2016 Annual Earnings
Net Earnings: Decreased to $1.7 billion or $1.81 earnings per share, down from $1.96 billion or $2.00 per share in 2015 Revenue: Decreased to $11.1 billion from $11.8 billion in 2015 Operating Income: Decreased $3.4 billion from $3.6 billion in 2015 Operating Ratio: 69.4 percent
Click here to read CSX’s full earnings report
4th Quarter 2016
Net Earnings: Net income increased by 20 percent to C$3.84 million; diluted earnings per share increased 25 percent to C$2.61 from fourth quarter 2015’s reported C$2.08 Revenue: Decreased 3 percent to C$1.64 billion from C$1.69 billion Operating Income: Increased 6 percent to C$717 million over fourth quarter 2015’s C$677 million Operating Ratio: 56.2 percent, a record low
2016 Annual Earnings
Net Earnings: Net income increased by 18 percent to C$1.6 billion from C$1.4 billion; diluted earnings per share increased 27 percent to C$10.63 from C$8.40 Revenue: Decreased 7 percent to C$6.23 billion from 2015’s reported C$6.71 billion Operating Income: Decreased 4 percent from 2015’s C$2.7 billion to C$2.6 billion Operating Ratio: 58.6 percent, a record low
Click here to read CP’s full earnings report
4th Quarter 2016
Net Earnings: $1.1 billion or $1.39 per diluted share, an increase of 6 percent Revenue: Down 1 percent to $5.2 billion Operating Income: Up 2 percent to $2.0 billion Operating Ratio: Improved by 1.2 points to 62.0 percent
2016 Annual Earnings
Net Earnings: Decreased by 11 percent to $4.2 billion or 8 percent to $5.07 per diluted share, down from 2015’s reported $4.8 billion or $5.49 per diluted share Revenue: Decreased to $19.9 billion from $21.8 billion Operating Income: Decreased by 10 percent to $7.3 billion Operating Ratio: Increased 0.4 points to 63.5 percent
Click here to read UP’s full earnings report
4th Quarter 2016
Net Earnings: Decreased by 5 percent to $130 million or $1.21 earnings per share Revenue: Static at $599 million Operating Income: Decreased by 4 percent to $211 million Operating Ratio: 64.8 percent, a 1.4 point increase from 2015’s 4th quarter report of 63.4 percent
2016 Annual Earnings
Net Earnings: $480 million or $4.43 per share, down from 2015’s reported $485 million or $4.40 per share Revenue: Down 3 percent to $2.3 billion Operating Income: Increased by 2 percent to $819 million Operating Ratio: 64.9 percent, a 1.9 point improvement over 2015
Click here to read KCS’s full earnings report
4th Quarter 2016
Net Earnings: Increased 8 percent to C$1,018 million; diluted earnings per share increased 12 percent to C$1.32 Revenue: Increased by 2 percent to C$3,217 million Operating Income: Increased by 3 percent to C$1,395 million Operating Ratio: 56.6 percent, an improvement of 0.6 points
2016 Annual Earnings
Net Earnings: Increased 3 percent to C$3,640 million; diluted earnings per share rose 6 percent to C$4.67 Revenue: Decreased by 5 percent to C$12,037 million Operating Income: Increased 1 percent to C$5,312 million Operating Ratio: Improved 2.3 points to 55.9 percent
Click here to read CN’s full earnings report
4th Quarter 2016
Net Earnings: Increased 15 percent to $416 million; diluted earnings per share increased 18 percent to $1.42 Revenue: Decreased 1 percent to $2.5 billion Operating Income: Increased 19 percent to $761 million Operating Ratio: 69.4 percent, a 510 point improvement over 74.5 percent reported for the fourth quarter of 2015
2016 Annual Earnings
Net Earnings: Increased 7 percent to $1.7 billion; diluted earnings per share increased 10 percent to $5.62 Revenue: Decreased by 6 percent to $9.9 billion Operating Income: Increased 7 percent to $3.1 billion Operating Ratio: Improved 370 points to 68.9 percent as compared to 2015’s reported 72.6 percent
Click here to read NS’s full earnings report
Note: Operating ratio is a railroad’s operating expenses expressed as a percentage of operating revenue, and is considered by economists to be the basic measure of carrier profitability. The lower the operating ratio, the more efficient the railroad.
