MONTREAL — Canadian National Railway Co. generated its highest ever quarterly revenue and adjusted earnings per share, driven by sharp increases in crude-by-rail and container traffic.
Canada’s largest railroad operator says net income rose four per cent year over year to $1.36 billion in the quarter ended June 30.
On an adjusted basis, diluted earnings per share climbed 15 per cent to $1.73 — a record for the second quarter — compared to $1.51 during the same period in 2018.
Analysts had expected adjusted diluted earnings of $1.65 per share, according to the financial markets data firm Refinitiv.
Revenues rose nine per cent to a record $3.96 billion.
Revenue from containers and petroleum and chemicals — its two biggest lines of business — rose 15 per cent and 26 per cent, respectively, to hit a total of $1.77 billion, roughly 45 per cent of total revenues.
Companies in this story: (TSX:CN)
The Canadian Press