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(Source: Progressive Railroading, January 23, 2024)

CN yesterday reported financial and operating results for fourth-quarter 2023. The Class I posted Q4 revenue of C$4.5 billion, down 2%; net income of C$2.1 billion, up 50%; and C$3.29 diluted earnings per share (EPS), up 57%, compared with Q4 2022 results. Adjusted Q4 net income came in at C$1.3 billion, down 8%, and adjusted diluted EPS totaled C$2.02, down 4%. The railroad posted operating income of C$1.8 billion, down 5%; and an operating ratio of 59.3%, up 1.4 points.

Full story: Progressive Railroading