2% decline in CN Rail Q3 net income to $1.09B, due to Alberta wildfires and labor disputes, but revenues rose 3% to $4.11B.

Canadian National Railway Co. (CN Rail) reported a 2% decline in net income for Q3, falling to $1.09 billion, impacted by wildfires in Alberta and labor disputes, including a nationwide lockout. Despite these challenges, revenues rose 3% to $4.11 billion, driven by significant growth in petroleum, chemicals (up 11%), and grain and fertilizers (up 9%). Adjusted earnings per share increased nearly 2% to $1.72, aligning with analysts' expectations.

October 22, 2024
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