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CN on Tuesday provided an updated outlook for full-year financial results and issued guidance for 2014 based on a number of assumptions, including continued economic recovery.The Class I now expects 2013 adjusted diluted earnings per share (EPS) to range from $3.05 to $3.10, and free cash flow before dividends to range from $1.5 billion to $1.6 billion (in Canadian dollars). The mid-point of the EPS range is consistent with the railroad's initial target of high single-digit growth compared with 2012's adjusted diluted EPS of $2.81, CN officials said in a press release."CN's agenda is gaining momentum. We are building on a strong foundation of operational and service excellence, with an end-to-end supply chain approach that is helping our customers win in their markets," said CN President and Chief Executive Officer Claude Mongeau. "Our focus on efficiency and profitable growth continues to drive solid shareholder value."The Class I also expects to register double-digit EPS growth in 2014 above the mid-point of its updated 2013 guidance, and free cash flow before dividends to total about $1.6 billion to $1.7 billion (in Canadian dollars). In addition, CN projects 2014 capital expenditures of about $2.1 billion compared with this year's $2 billion budget.
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