(Source: Canadian Press, April 25, 2022)
MONTREAL — Canadian National Railway Co. on Tuesday lowered its earnings forecast for the year after profits sagged in its first quarter. Citing tough operating conditions and “worldwide economic uncertainty,” the company now predicts adjusted diluted earnings per share growth of between 15 and 20 per cent, versus its target of 20 per cent at the start of the year. Canada’s largest railroad operator said net income for the first quarter dropped to $918 million from $976 million in the first three months of 2021. Revenues rose five per cent year over year to $3.71 billion compared with $3.54 billion a year earlier.
Full story: Coast Reporter