topstockalerts
Sep 23, 8:10 PM
Canadian rail traffic remained positive last week, with CN up 0.7% year over year and CPKC rising 7.6%, according to Raymond James. CN’s growth was driven by metals and minerals, automotive and petrochemicals, while CPKC continued to benefit from strength in grain, energy, chemicals and plastics, metals and minerals, and intermodal.
Quarter-to-date, CN traffic is up 4.6%, led by automotive (+22.8%), grain (+15.7%), metals and minerals (+5.6%) and petrochemicals (+4.8%), partly offset by declines in coal, forestry and intermodal. CPKC traffic has accelerated to 6.4%, supported by grain (+24.2%), intermodal (+10.1%), metals and minerals (+9.1%) and forestry (+2.2%), while coal, fertilizers, potash and automotive remained weak.
Both railroads are running ahead of Raymond James’ Q3 2026 estimates, by 3.1% for CN and 4.1% for CPKC, with only one week left in the quarter. The firm expects tougher year-over-year comparisons in Q4.
$CNI $CP
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