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10/23/2024
CN yesterday reported third-quarter 2024 revenue rose 3% to C$4 billion, and operating income remained about the same at C$1.5 billion, compared to third-quarter financials announced a year ago.
The Class I posted diluted earnings per share of C$1.72, up 2%, compared to earnings in Q3 2023, according to a CN press release.
CN's operating ratio for the quarter was 63.1% compared to 62% a year ago. The railroad logged revenue ton miles of 56,548 (millions), a 2% increase compared to last year's Q3 RTMs.
“Our scheduled operating plan demonstrated its resilience in the third quarter, allowing us to adapt our operations to challenges posed by wildfires and prolonged labor issues," said CN President and CEO Tracy Robinson. "Our operations recovered quickly and the railroad is running well."
For its 2024 guidance and long-term outlook, CN continues to expect to deliver adjusted diluted EPS growth in the low single-digit range, CN officials said. The Class I still expects to invest C$3.5 billion in its capital program, net of amounts reimbursed by customers.