Regardless of these setbacks, CPKC posted an earnings achieve of seven% 12 months over 12 months. The 4 classes that made probably the most impression had been grain, power, plastics and chemical substances, and so they grew revenues by 11%. CPKC says the cargo of wheat to Mexico from the Canadian and American Prairies over the previous 12 months was precisely the kind of “synergy win” that it hoped for when the previous Canadian Pacific acquired Kansas Metropolis Southern again in 2021. This railway stays the one one to span Canada, the US and Mexico.
CNR CEO Tracy Robinson commented on the railway’s operational challenges. “Our scheduled working plan demonstrated its resilience within the third quarter, permitting us to adapt our operations to challenges posed by wildfires and extended labor points,” she mentioned. “Our operations recovered shortly and the railroad is operating properly. As we shut 2024, we are going to proceed to give attention to recovering volumes, progress, and making certain our assets are aligned to demand.”
CNR’s revenues had been up 3% 12 months over 12 months; nevertheless, elevated bills meant the corporate’s working ratio rose 1.1% to 63.1% (indicating that bills are rising as a share of income). The railway introduced it was elevating its quarterly dividend from $0.79 to $0.845. This elevate of practically 7% is true in keeping with CNR’s mission to conservatively elevate its dividend payouts every year.
For extra data on these railroads, take a look at my article on Canadian railway shares at MillionDollarJourney.ca.
Canada’s finest dividend shares
Tough day for Rogers
Thursday’s income miss left some Rogers shareholders shaking their heads.
Rogers earnings highlights
Right here’s what the big cell firm reported this week:
- Rogers Communications (RCI/TSX): Earnings per share of $1.42 (versus $1.34 predicted) and revenues of $5.13 billion (versus $5.17 predicted).
Whereas stable earnings numbers did take away among the sting, Rogers’ share value was down 3% on Thursday. Decrease-than-expected numbers for brand spanking new wi-fi clients had been on the root of low income progress. The oligopolistic Canadian wi-fi market stays uncharacteristically aggressive as Rogers, Telus and Bell all proceed to battle for market share. That competitors is hurting revenue margins for all three telecommunications giants in the intervening time. (In contrast to in previous years, when the three telcos all loved charging among the highest wi-fi plan charges on the earth.)
One spotlight for Rogers was its sports activities income vertical, which was up 11% from final quarter. Rogers has actually doubled down on its sports activities media technique over the previous few years and now owns a controlling share of the:
- Toronto Blue Jays within the Main League Baseball league (MLB)
- Toronto Maple Leafs within the Nationwide Hockey League (NHL)
- Toronto Raptors within the Nationwide Basketball Affiliation (NBA)
- Toronto FC in Main League Soccer (MLS)
- Toronto Argonauts within the Canadian Soccer League (CFL)
- SportsNet, a significant Canadian sports activities community
- Toronto’s Rogers Centre and Scotiabank Enviornment venues
- Naming rights of sports activities venues in Edmonton, Toronto and Vancouver
- Nationwide NHL media rights in Canada
- Native media rights to the NHL’s Vancouver Canucks, Calgary Flames and Edmonton Oilers
- Partial native media rights to the Maple Leafs and Raptors
- A number of minor-league franchises and esports (gaming) groups
Regardless of proudly owning all these household-name sports activities belongings, it’s value noting that Rogers’ wi-fi and cable divisions had been accountable for near 90% of revenues, with sports activities and media making up the remainder.
