无需额外资本支出,CN Rail盈利及现金流前景向好

投资观察
Jul 28

12:37 ET——加拿大国家铁路公司(CN Rail)正于货运环境持续改善的背景下运营,而今年下半年仍可能蕴藏额外的增长契机。在加拿大皇家银行(RBC)的一份报告中,分析师Walter Spracklin指出,近期业绩上调的幅度超出了预期,并强调:“若假设每股收益指引相当于7%的同比增长,则意味着每股收益为8.16美元,远高于市场普遍预期的7.94美元以及我们预估的8.05美元。”Spracklin表示,低个位数的运量指引显示下半年增长不会加速,然而,“如果市场条件持续改善(我们相信会如此),这将为业绩带来进一步的上行空间。”他补充道,CN Rail正实现这一增长,却无需增加资本支出——过去的大量投资已创造了充足产能,足以支撑更高的运量,进而有望提振自由现金流。

(adriano.marchese@wsj.com)

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