CN Railway Boosts Full-Year Guidance as Freight Prices Jump
A Canadian National Railway locomotive in Montreal, Quebec.
Photographer: Christinne Muschi/BloombergThis article is for subscribers only.
Canadian National Railway Co. raised its earnings outlook for the year as it reaps the benefits of a strong US dollar and a decision to impose higher fuel surcharges on customers.
The Montreal-based railway expects adjusted earnings per share to grow 25% this year over 2021. Previously, it told investors to expect 15% to 20% growth. Canadian National beat analysts’ estimates for sales and profit in the third quarter. Revenue was C$4.51 billion ($3.3 billion), exceeding the consensus forecast of C$4.32 billion.