Q: Can you provide what% of business for BN is ex-Canada.?Also a viewpoint on how the company will fare in this potential tariff situation?
5i Research Answer:
In the last full year of data available, BN had $28.3B in US revenue of a total of $95B, so 70% was ex-USA. We do not think it will be seriously jeopardized. While it has some exposure, it does not have a lot of Canada-US products moving back and forth. Individual subsidiaries will have more or less exposure depending on which one, but in aggregate we would not see a material impact to the company.