Canadian National Railway Co

CNR: XTSE (CAN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Canadian National Earnings: Intermodal Jumps on Easy Comps, but Carload Headwinds Persist

Matthew Young

Oct 31, 2025

Canadian National's third-quarter top line increased 1% year over year on higher intermodal volume, partly offset by mix-related yield pressure (lower merchandise carloads, higher intermodal activity). Consolidated profitability improved on good network productivity management.

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Canadian National Railway Co

Canadian National Earnings: Intermodal Jumps on Easy Comps, but Carload Headwinds Persist

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