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Canadian National Railway Shares Down on Lower 1Q Profit, Revenue

Provided by Dow Jones

Apr 24, 2024 3:52pm

By Adriano Marchese

Shares in Canadian National Railway were lower Wednesday morning after reporting lower profit and revenue in the first quarter.

In late morning trading, shares in Toronto were down 4.4% at 169.04 Canadian dollars ($123.73).

Late Tuesday, the railroad operator reported a profit of C$1.1 billion, or C$1.72 a share, down from C$1.22 billion or C$1.82 a share a year earlier.

Analysts were expected earnings of C$1.71 a share, according to FactSet.

Revenue was down by 1.5% at C$4.25 billion, and missed analysts' expectations of C$4.28 billion, according to FactSet.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

April 24, 2024 11:52 ET (15:52 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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