A possible recession will lead to lower shipment volumes, CEO warns
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The railroad said the increase in revenue was mainly due to higher fuel surcharge revenue as a result of higher fuel prices, the positive translation impact of a weaker Canadian dollar, freight rate increases and higher volumes of U.S. grain.Advertisement 3But chief executive Tracy Robinson warned analysts on a conference call Tuesday that 2023 could be significantly more challenging.
“Without a doubt, we are in an uncertain economic time. And like many others, we are assuming this year, a mild recession,” Robinson said. “In this company, like others, we’ve dealt with recessions in the past, and we’ll deal with this one.”Article content
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