Canadian National Railway Q3 Profit Rises

(RTTNews) - Canadian National Railway Company (CN) Tuesday reported third-quarter net income of $1.195 billion or $1.66 per share, up from $1.134 billion or $1.54 per share last year.

Total revenues for the third quarter rose to $3.83 billion from $3.69 billion last year.

Analysts polled by Thomson Reuters estimated earnings of $1.22 per share on revenues of $2.92 billion for the quarter.

In light of the deterioration in North American rail demand, as the economy continues to weaken, CN said it now expects 2019 adjusted earnings growth in the high single-digit range this year versus last year's adjusted diluted EPS of $5.50 per share.

Analysts currently estimate earnings of $4.60 per share.