CN Rail reported earnings that easily beat analysts’ forecasts as strong volumes allowed the railroad to increase prices and fuel surcharges to offset rising costs.
Canadian National Railway Co. reported earnings that easily beat analysts’ estimates, as strong volumes allowed the railroad to increase prices and fuel surcharges to offset rising costs.
Montreal-based Canadian National earned $1.93 a share on an adjusted basis, beating forecasts of $1.76 per share. The company also reaffirmed an earlier outlook that calls for 15 per cent to 20 per cent earnings growth this year compared with 2021. A Canadian National Railway locomotive pulls a train in Montreal, Quebec, Canada, on Tuesday, April 20, 2021. Canadian National Railway Co. offered US$30 billion to snatch Kansas City Southern away from a rival, spurring a possible bidding war over one of the industrys biggest deals in decades.
Robinson is under pressure to boost efficiency at the railway, which has underperformed Canadian Pacific Railway Ltd. over the past several years. She took the helm in February when former CEO Jean-Jacques Ruest departed following a campaign against him by one of the company’s largest shareholders, Christopher Hohn’s TCI Fund Management Ltd.
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