Reduced traffic in grain, fertilizers and petroleum, against increased costs from “challenging operating conditions,” ate into the first-quarter bottom line for Canadian National Railway (CN). Montreal-based CN on Monday booked net income of $741 million on total revenues of $3.194 billion for its quarter ending March 31, down from $884 million on $3.206 billion in […] Read more
Grain handle drops in CN’s first quarter
Canadian railways in catch-22 over crude shipment
Reuters — Canadian railway operators see a lucrative opportunity to transport more crude oil to the U.S. as a rise in output forces producers to find new routes to its southern neighbour. However, their need for long-term contracts and the pressure to move a surplus of grains in the country is making it hard to […] Read more
Equipment firm Buhler’s year-end ledger improves
Improved sales in the North American market have helped push the 2017 results for Canadian farm equipment maker Buhler Industries back into the black. The Winnipeg-based company, which makes Versatile tractors and Farm King implements, on Friday booked year-end net income of about $500,000 on gross revenue of $312 million, up from a $2.7 million […] Read more
Feds, provinces end dispute on how to split pot tax revenues
Ottawa | Reuters –– The Canadian government and the 10 provinces on Monday settled a disagreement on how to split the revenues from a proposed federal tax on the sale of marijuana once the drug is legalized, Finance Minister Bill Morneau said. Morneau told reporters that for an initial two years, 75 per cent of […] Read more
CP’s third-quarter grain handle down
“Volume momentum” in its third quarter has Canadian Pacific Railway looking forward to a rosier year-end ledger, though its grain traffic for the quarter dragged on that momentum. Calgary-based CP on Tuesday reported net income of $510 million on $1.595 billion in revenues for the third quarter ending Sept. 30, up from $347 million on […] Read more
Agrium posts smaller-than-expected loss for quarter
Reuters — Agrium, the world’s biggest farm retailer, reported a smaller-than-expected loss on Monday, helped by higher selling prices for potash. The Calgary-based fertilizer and ag retail firm sold 636,000 tonnes of wholesale potash in the first quarter ended March 31 at an average of $208 per tonne, compared with 456,000 tonnes at $199 per […] Read more
Online tool gives snapshot of farm’s fiscal health
Analyzer uses eight numbers from the year-end balance sheet to quickly produce 11 key financial ratios linked to industry benchmarks
Reading Time: 2 minutes To help producers be aware of the ratios for their farm businesses, Alberta Agriculture and Forestry has a decision-making tool called the ABA Simple Farm Ratio Analyzer. Start with your year-end net worth statement (the balance sheet for 2016), which is also your opening net worth statement for 2017, said farm finance specialist Rick Dehod. […] Read more
CN feels Prairie harvest delays in Q3 revenues
Weather-related stalls in this fall’s Prairie grain harvest have chipped away at Canadian National Railway’s (CN) third-quarter financials, as the railway booked lower profits and revenues on “shifting traffic demands.” Montreal-based CN on Tuesday reported overall net income of $972 million on $3.014 billion in revenue for the quarter ending Sept. 30, down from $1.007 […] Read more
Cargill posts Q4 loss on one-time charges, revenue down
Reuters — Cargill Inc. on Thursday became the latest large agribusiness to report disappointing quarterly results as one-time charges and slowing economies in key emerging markets stung the privately held global commodities trader. Minnesota-based Cargill said it lost a net $51 million in the fiscal fourth quarter ended May 31, compared with a profit of […] Read more