CN: 2Q Earnings Snapshot
MONTREAL (AP) _ Canadian National Railway Co. (CNI) on Tuesday reported second-quarter profit of $1.02 billion.
On a per-share basis, the Montreal-based company said it had profit of $1.41. Earnings, adjusted for pretax gains, were $1.29 per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.26 per share.
The railroad posted revenue of $2.96 billion in the period, which fell short of Street forecasts. Six analysts surveyed by Zacks expected $3 billion.
CN expects full-year earnings to be $4.11 per share.
CN shares have increased 23% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $91.06, a climb of 6.5% in the last 12 months.