(The following appeared on the Calgary Herald website on July 23, 2010.)
CALGARY — Canadian National Railway reported a 38 per cent jump in quarterly profit on Thursday and raised its full-year forecast based on its strong results over the past six months and expectation the economy will continue to recover.
CN, Canada’s biggest railway, said it now expects 2010 adjusted earnings per share will be 25 per cent above the $3.24 it reported for 2009. It also expects free cash flow of $1.1 billion.
“We’ve had very, very strong first-half results and we expect the economy to continue on its gradual course of recovery, said chief financial officer Luc Jobin, noting the rate of growth is expected to decline in the second half of 2010.