(Source: CN press release, October 22, 2024)
CN today reported its financial and operating results for the third quarter ended September 30, 2024.
Quarterly highlights:
- Revenue ton miles (RTMs) of 56,548 (millions), an increase of 2%.
- Revenues of C$4,110 million, an increase of C$123 million, or 3%.
- Operating income of C$1,515 million was in line with prior year.
- Operating ratio, defined as operating expenses as a percentage of revenues, of 63.1%, an increase of 1.1-points.
- Diluted earnings per share (EPS) of C$1.72, an increase of 2%.
2024 guidance and long-term financial outlook
CN continues to expect to deliver adjusted diluted EPS growth in the low single-digit range and continues to expect to invest approximately C$3.5 billion in its capital program, net of amounts reimbursed by customers. The Company also continues to expect adjusted return on invested capital (ROIC) to be in the 13%-15% range.
Over the 2024-2026 period, CN continues to target compounded annual adjusted diluted EPS growth in the high single-digit range.
Full story: www.cn.ca