Oct. 31 at 12:43 PM
Canadian National Railway reported Q3 results on Friday that topped analyst expectations, posting adjusted EPS of C
$1.83, beating estimates by C
$0.05, while revenue of C
$4.17 billion matched consensus forecasts.
The railway operator delivered a 6% increase in diluted EPS despite only a 1% rise in revenue ton-miles (RTMs) and a 5% increase in carloads. Its operating ratio improved by 170 basis points to 61.4%, reflecting strong cost control and operational efficiency.
CEO Tracy Robinson said CN achieved earnings growth through disciplined cost management and is taking “proactive steps to position our cost structure for future demand.”
Expenses fell 1%, mainly due to lower fuel costs, while CN executed C $ 1 billion in share buybacks, cutting its diluted share count by 1%.
$CNI