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Rail News Home Canadian National Railway - CN


Rail News: Canadian National Railway - CN

CN reports lower revenue, income in Q1


CN yesterday reported first-quarter 2024 revenue declined 1% to CA$4.2 billion, and net income fell 9% to CA$1.1 billion compared with the same quarter a year ago.

Diluted earnings per share in the quarter fell 5% to CA$1.72 from CA$1.82 a year ago.

The Class I logged Q1 2024 operating income of CA$1.5 billion, down 7% from the previous year's quarter. CN recorded an operating ratio of 63.6% in the quarter, up from 61.5% a year ago.

"Our team of railroaders delivered to plan in the first quarter and our scheduled operating model continued to enhance our service to customers. Looking forward, we are confident for 2024," said CN President and CEO Tracy Robinson in a press release. "We are seeing the expected improvements in the economy, and our CN-specific growth opportunities are materializing. We remain committed to delivering on our growth agenda and powering the economy."