2024 CN earnings guidance lowered due to labor stoppage impacting major Canadian railways.
Canadian National Railway Co. (CN) has lowered its 2024 earnings guidance following a recent labor stoppage that disrupted operations across Canada's major railways. After recovering from the shutdown, CN now anticipates adjusted earnings-per-share growth in the low single-digit range, down from mid to high single-digit growth projected in July. The labor dispute involved over 9,000 workers and has led to binding arbitration ordered by the Canada Industrial Relations Board, which is being contested by the Teamsters union.
September 10, 2024
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